Short Interest in Watts Water Technologies Inc (NYSE:WTS) Drops By 36.5%

Watts Water Technologies Inc (NYSE:WTS) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 555,068 shares, a decline of 36.5% from the November 30th total of 874,103 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 157,052 shares, the days-to-cover ratio is currently 3.5 days.

In related news, CEO Robert J. Pagano, Jr. sold 3,951 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $73.09, for a total value of $288,778.59. Following the completion of the transaction, the chief executive officer now directly owns 137,474 shares in the company, valued at approximately $10,047,974.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 11,852 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $73.53, for a total transaction of $871,477.56. Following the completion of the transaction, the chief executive officer now owns 137,474 shares of the company’s stock, valued at $10,108,463.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,348 shares of company stock worth $1,339,628. Insiders own 1.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of WTS. Impax Asset Management LTD boosted its holdings in Watts Water Technologies by 7.8% in the 3rd quarter. Impax Asset Management LTD now owns 2,730,009 shares of the technology company’s stock worth $188,917,000 after buying an additional 196,626 shares during the period. Victory Capital Management Inc. boosted its holdings in Watts Water Technologies by 29.0% in the 3rd quarter. Victory Capital Management Inc. now owns 771,208 shares of the technology company’s stock worth $53,367,000 after buying an additional 173,225 shares during the period. Renaissance Technologies LLC boosted its holdings in Watts Water Technologies by 139.1% in the 2nd quarter. Renaissance Technologies LLC now owns 206,800 shares of the technology company’s stock worth $13,070,000 after buying an additional 120,300 shares during the period. Voya Investment Management LLC boosted its holdings in Watts Water Technologies by 9.8% in the 2nd quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock worth $47,987,000 after buying an additional 67,767 shares during the period. Finally, TimesSquare Capital Management LLC boosted its holdings in Watts Water Technologies by 21.1% in the 2nd quarter. TimesSquare Capital Management LLC now owns 362,960 shares of the technology company’s stock worth $22,939,000 after buying an additional 63,200 shares during the period. 77.55% of the stock is owned by institutional investors.

Shares of Watts Water Technologies (NYSE:WTS) opened at $78.65 on Monday. The company has a quick ratio of 1.70, a current ratio of 2.57 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2,685.74, a price-to-earnings ratio of 29.13, a PEG ratio of 1.99 and a beta of 1.16. Watts Water Technologies has a 12 month low of $59.15 and a 12 month high of $79.25.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $347.70 million during the quarter, compared to the consensus estimate of $361.22 million. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. Watts Water Technologies’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. research analysts anticipate that Watts Water Technologies will post 3.01 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and issued a $85.00 price objective on shares of Watts Water Technologies in a report on Thursday, December 14th. Boenning Scattergood reiterated a “buy” rating on shares of Watts Water Technologies in a research note on Monday, November 20th. Cowen reiterated a “hold” rating and set a $58.00 target price on shares of Watts Water Technologies in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Tuesday, October 3rd. Finally, Robert W. Baird boosted their target price on shares of Watts Water Technologies from $71.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $73.83.

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About Watts Water Technologies

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

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