Key Points
- Major shareholder Timothy Horne sold 942 shares at an average of $272.26 for a total of $256,468.92, trimming his stake by 4.14% to 21,814 shares (about $5.94M).
- Watts Water beat expectations for the quarter with EPS of $2.50 versus $2.29 expected and revenue of $611.7M versus $576.2M, a 12.5% year-over-year revenue increase.
- The company declared a $0.52 quarterly dividend (ex-dividend Dec. 1, payable Dec. 15), while analysts remain mixed — consensus rating "Hold" with a $264.25 target despite some firms raising targets to $300.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) major shareholder Timothy Horne sold 942 shares of the business's stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $272.26, for a total value of $256,468.92. Following the sale, the insider owned 21,814 shares of the company's stock, valued at $5,939,079.64. The trade was a 4.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Watts Water Technologies Trading Up 2.7%
Shares of WTS stock opened at $277.66 on Wednesday. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $287.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. The stock's fifty day moving average is $275.60 and its two-hundred day moving average is $263.41. The firm has a market capitalization of $9.26 billion, a P/E ratio of 29.86, a PEG ratio of 3.27 and a beta of 1.17.
Watts Water Technologies (NYSE:WTS - Get Free Report) last released its earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.21. The business had revenue of $611.70 million during the quarter, compared to analyst estimates of $576.20 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The company's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 earnings per share. Watts Water Technologies has set its FY 2025 guidance at EPS. Research analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.
Watts Water Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.52 dividend. The ex-dividend date is Monday, December 1st. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies's dividend payout ratio is presently 21.47%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on WTS. Barclays boosted their target price on Watts Water Technologies from $287.00 to $300.00 and gave the stock an "equal weight" rating in a report on Friday, November 7th. Wall Street Zen upgraded Watts Water Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 8th. Stifel Nicolaus lifted their price target on Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 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. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $264.25.
View Our Latest Report on Watts Water Technologies
Institutional Investors Weigh In On Watts Water Technologies
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MTM Investment Management LLC purchased a new position in shares of Watts Water Technologies during the 2nd quarter worth $25,000. Wexford Capital LP acquired a new position in Watts Water Technologies in the third quarter valued at about $26,000. Advisory Services Network LLC acquired a new position in Watts Water Technologies in the third quarter valued at about $29,000. Cullen Frost Bankers Inc. boosted its stake in Watts Water Technologies by 156.9% during the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company's stock worth $32,000 after buying an additional 80 shares during the period. Finally, Costello Asset Management INC acquired a new stake in shares of Watts Water Technologies during the first quarter valued at about $33,000. Hedge funds and other institutional investors own 95.02% of the company's stock.
About Watts Water Technologies
(
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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