Key Points
- Major shareholder Timothy Horne sold 250 WTS shares on Nov. 20 at an average price of $272 for $68,000, reducing his stake by 1.09% to 22,756 shares (≈$6.19M).
- Company fundamentals and outlook: Watts beat Q3 estimates with $2.50 EPS vs $2.29 expected and $611.7M revenue (up 12.5% YoY), announced a $0.52 quarterly dividend (annualized $2.08, 0.8% yield), and holds a consensus "Hold" rating with a $264.25 price target.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) major shareholder Timothy Horne sold 250 shares of the firm's stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $272.00, for a total value of $68,000.00. Following the transaction, the insider owned 22,756 shares in the company, valued at approximately $6,189,632. The trade was a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Watts Water Technologies Stock Performance
NYSE:WTS opened at $270.44 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $287.89. The firm has a market cap of $9.02 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 3.27 and a beta of 1.17. The business has a 50 day moving average price of $275.67 and a 200-day moving average price of $263.12.
Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its earnings results on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.29 by $0.21. The company had revenue of $611.70 million for the quarter, compared to the consensus estimate of $576.20 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The firm's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.03 earnings per share. Watts Water Technologies has set its FY 2025 guidance at EPS. Equities research analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.
Watts Water Technologies Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. Watts Water Technologies's dividend payout ratio (DPR) is presently 21.47%.
Hedge Funds Weigh In On Watts Water Technologies
A number of institutional investors and hedge funds have recently made changes to their positions in the business. MTM Investment Management LLC purchased a new stake in Watts Water Technologies during the second quarter valued at approximately $25,000. Wexford Capital LP bought a new stake in shares of Watts Water Technologies during the 3rd quarter valued at $26,000. Advisory Services Network LLC purchased a new stake in shares of Watts Water Technologies in the 3rd quarter worth $29,000. Cullen Frost Bankers Inc. raised its holdings in Watts Water Technologies by 156.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company's stock worth $32,000 after purchasing an additional 80 shares during the period. Finally, Costello Asset Management INC purchased a new position in Watts Water Technologies during the first quarter valued at $33,000. Hedge funds and other institutional investors own 95.02% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on WTS. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Wall Street Zen raised shares of Watts Water Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, November 8th. Zacks Research cut shares of Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Watts Water Technologies in a research note on Monday, November 17th. Finally, Stifel Nicolaus increased their target price on Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $264.25.
Check Out Our Latest Stock Report on WTS
Watts Water Technologies Company Profile
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Get Free Report)
Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.
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