Timothy Horne Sells 7,500 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) major shareholder Timothy Horne sold 7,500 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $330.04, for a total value of $2,475,300.00. Following the transaction, the insider owned 7,500 shares in the company, valued at $2,475,300. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Watts Water Technologies Stock Performance

NYSE WTS traded down $1.37 during trading on Monday, reaching $325.33. The company’s stock had a trading volume of 51,445 shares, compared to its average volume of 198,224. The firm has a 50 day moving average price of $297.43 and a 200 day moving average price of $283.45. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. The firm had revenue of $625.10 million during the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 EPS. As a group, equities analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a yield of 1.9%. Watts Water Technologies’s payout ratio is presently 20.45%.

Institutional Trading of Watts Water Technologies

Several hedge funds have recently modified their holdings of WTS. MTM Investment Management LLC acquired a new stake in shares of Watts Water Technologies in the 2nd quarter worth about $25,000. Wexford Capital LP bought a new stake in Watts Water Technologies during the 3rd quarter worth approximately $26,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Watts Water Technologies in the fourth quarter worth approximately $28,000. Clearstead Advisors LLC lifted its holdings in shares of Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Watts Water Technologies during the third quarter valued at approximately $29,000. Institutional investors own 95.02% of the company’s stock.

Analysts Set New Price Targets

WTS has been the topic of several recent research reports. HSBC assumed coverage on Watts Water Technologies in a report on Tuesday, January 27th. They set a “buy” rating on the stock. KeyCorp lifted their price objective on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Royal Bank Of Canada increased their target price on shares of Watts Water Technologies from $288.00 to $337.00 and gave the company a “sector perform” rating in a research report on Friday, February 13th. Robert W. Baird set a $361.00 price target on shares of Watts Water Technologies in a report on Friday, February 13th. Finally, Barclays upped their price objective on shares of Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $334.11.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.