Key Points
- Watts Water Technologies General Counsel Kenneth Robert Lepage sold 5,025 shares at an average price of $321.08 for a total of $1,613,427, leaving him with 12,284 shares—a 29.03% reduction in his ownership.
- The company beat Q4 estimates with EPS of $2.62 (vs. $2.36) and revenue of $625.1M (vs. $610.4M), posted 15.7% year‑over‑year revenue growth, and declared a monthly $0.52 dividend (ex‑div Feb 27, payable Mar 13) with a ~1.9% yield; analysts' consensus is a "Moderate Buy" with a $334.11 price target.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) General Counsel Kenneth Robert Lepage sold 5,025 shares of Watts Water Technologies stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total value of $1,613,427.00. Following the transaction, the general counsel owned 12,284 shares of the company's stock, valued at $3,944,146.72. This represents a 29.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Watts Water Technologies Stock Up 0.1%
WTS opened at $329.92 on Thursday. The stock's fifty day simple moving average is $295.46 and its 200 day simple moving average is $282.41. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $345.17. The stock has a market cap of $11.00 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 3.00 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 - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.36 by $0.26. The firm had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The company's quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 earnings per share. As a group, research analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.
Watts Water Technologies Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.52 dividend. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 1.9%. Watts Water Technologies's dividend payout ratio is 20.45%.
Institutional Trading of Watts Water Technologies
A number of institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of Watts Water Technologies in the fourth quarter worth $100,627,000. Cartenna Capital LP acquired a new stake in Watts Water Technologies during the third quarter worth about $47,478,000. AQR Capital Management LLC grew its stake in Watts Water Technologies by 148.3% during the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company's stock worth $68,276,000 after buying an additional 165,837 shares in the last quarter. UBS Group AG increased its holdings in Watts Water Technologies by 223.0% in the 3rd quarter. UBS Group AG now owns 202,250 shares of the technology company's stock valued at $56,484,000 after buying an additional 139,637 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Watts Water Technologies by 20.7% in the 2nd quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company's stock valued at $197,728,000 after buying an additional 138,034 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $339.00 price objective on shares of Watts Water Technologies in a report on Friday, February 13th. Barclays boosted their price target on 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. Stifel Nicolaus increased their price objective on Watts Water Technologies from $320.00 to $389.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. The Goldman Sachs Group boosted their target price on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a "neutral" rating in a research report on Friday, February 13th. Finally, TD Cowen restated a "hold" rating on shares of Watts Water Technologies in a research note on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $334.11.
Check Out Our Latest Research Report on Watts Water Technologies
About Watts Water Technologies
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
