Key Points
- Watts CAO Virginia Halloran sold 605 shares at an average price of $276.78 on Dec. 17 for a total of $167,451.90, reducing her stake by 4.32% to 13,412 shares (SEC filing).
- Quarterly results beat expectations: Watts reported $2.50 EPS vs. $2.29 estimated and revenue of $611.7M (up 12.5% YoY), while the stock trades near its 52-week high with a market cap of about $9.37B.
- Dividend and analyst stance: The company pays a $0.52 quarterly dividend ($2.08 annual, 0.7% yield) and carries a consensus analyst rating of "Hold" with a $279.25 price target.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) CAO Virginia Halloran sold 605 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total transaction of $167,451.90. Following the transaction, the chief accounting officer directly owned 13,412 shares of the company's stock, valued at approximately $3,712,173.36. This trade represents a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Watts Water Technologies Stock Up 1.2%
Shares of NYSE WTS opened at $281.09 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.83 and a debt-to-equity ratio of 0.10. The firm has a market cap of $9.37 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.95 and a beta of 1.23. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $287.89. The business's 50 day moving average is $274.39 and its two-hundred day moving average is $267.13.
Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.29 by $0.21. The company had revenue of $611.70 million during the quarter, compared to analysts' expectations of $576.20 million. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.Watts Water Technologies's revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $2.03 EPS. Research analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.
Watts Water Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.08 annualized dividend and a yield of 0.7%. Watts Water Technologies's dividend payout ratio (DPR) is 21.47%.
Analysts Set New Price Targets
WTS has been the subject of several analyst reports. Barclays upped their price objective on Watts Water Technologies from $287.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Friday, November 7th. Zacks Research downgraded shares of Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 20th. Wall Street Zen cut Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, December 13th. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Watts Water Technologies in a report on Monday. Finally, Jefferies Financial Group began coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They issued a "hold" rating and a $300.00 price objective for the company. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Watts Water Technologies presently has a consensus rating of "Hold" and a consensus price target of $279.25.
Get Our Latest Report on WTS
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of WTS. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in shares of Watts Water Technologies by 18.5% during the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 77,892 shares of the technology company's stock valued at $19,164,000 after acquiring an additional 12,148 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Watts Water Technologies in the second quarter valued at $233,000. Jane Street Group LLC raised its holdings in shares of Watts Water Technologies by 210.6% in the 1st quarter. Jane Street Group LLC now owns 57,901 shares of the technology company's stock worth $11,807,000 after purchasing an additional 39,260 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Watts Water Technologies by 20.8% during the 1st quarter. Intech Investment Management LLC now owns 14,676 shares of the technology company's stock valued at $2,993,000 after acquiring an additional 2,530 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Watts Water Technologies in the 2nd quarter worth about $50,400,000. 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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