Key Points
- CEO Robert Pagano, Jr. sold 16,066 shares on Feb. 19 at an average of $327.31 for a total of ~$5.26M, cutting his ownership by 7.75% to 191,202 shares worth about $62.58M.
- Watts beat quarterly expectations with EPS of $2.62 vs. $2.36 est. and revenue of $625.1M (up 15.7% year-over-year), reporting an ROE of 18.55% and a net margin of 13.98%.
- The company announced a monthly dividend of $0.52 per share (ex-dividend Feb. 27, payable Mar. 13), implying a ~1.9% yield and a payout ratio around 20.45%.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) CEO Robert Pagano, Jr. sold 16,066 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the completion of the sale, the chief executive officer directly owned 191,202 shares in the company, valued at $62,582,326.62. This trade represents a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Watts Water Technologies Stock Performance
NYSE:WTS opened at $326.57 on Friday. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $345.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51. The company has a 50 day moving average price of $297.43 and a 200 day moving average price of $283.19. The stock has a market capitalization of $10.89 billion, a P/E ratio of 32.11, a PEG ratio of 3.00 and a beta of 1.24.
Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The company had revenue of $625.10 million for the quarter, compared to analyst estimates of $610.40 million. During the same quarter in the previous year, the company earned $2.05 earnings per share. The firm's quarterly revenue was up 15.7% compared to the same quarter last year. Equities research analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.
Watts Water Technologies Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a yield of 1.9%. Watts Water Technologies's dividend payout ratio is presently 20.45%.
Institutional Trading of Watts Water Technologies
A number of institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Watts Water Technologies in the 4th quarter valued at about $100,627,000. Cartenna Capital LP acquired a new position in Watts Water Technologies in the third quarter valued at approximately $47,478,000. AQR Capital Management LLC increased its stake in Watts Water Technologies by 148.3% in the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company's stock valued at $68,276,000 after purchasing an additional 165,837 shares during the last quarter. UBS Group AG raised its holdings in Watts Water Technologies by 223.0% during the third quarter. UBS Group AG now owns 202,250 shares of the technology company's stock worth $56,484,000 after purchasing an additional 139,637 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Watts Water Technologies by 20.7% during the 2nd quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company's stock worth $197,728,000 after buying an additional 138,034 shares during the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Watts Water Technologies from $267.00 to $323.00 and gave the stock a "neutral" rating in a research note on Friday, February 13th. Weiss Ratings restated a "buy (b)" rating on shares of Watts Water Technologies in a report on Monday, December 29th. Zacks Research upgraded shares of Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday, December 29th. HSBC began coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They issued a "buy" rating for the company. Finally, TD Cowen reaffirmed a "hold" rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $334.11.
Read 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.
Further Reading
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