Key Points
- Major shareholder Timothy Horne sold 7,500 shares of Watts Water Technologies on Feb. 20 at an average price of $330.04, totaling $2,475,300 and cutting his position by 50% to 7,500 shares.
- Watts Water Technologies beat expectations for the quarter with EPS of $2.62 (vs. $2.36 est.) and revenue of $625.1M, up 15.7% year-over-year.
- The company declared a monthly dividend of $0.52 per share (record date Feb. 27, pay date Mar. 13), implying about a 1.9% yield and a 20.45% payout ratio.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) major shareholder Timothy Horne sold 7,500 shares of Watts Water Technologies stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $330.04, for a total value of $2,475,300.00. Following the sale, the insider directly owned 7,500 shares in the company, valued at $2,475,300. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Watts Water Technologies Stock Performance
Shares of NYSE WTS opened at $323.44 on Tuesday. The business has a fifty day simple moving average of $298.27 and a 200 day simple moving average of $283.89. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 2.97 and a beta of 1.24. Watts Water Technologies, Inc. has a one year low of $177.59 and a one year high of $345.17.
Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, topping analysts' consensus estimates 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 business's revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 earnings per share. Sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.
Watts Water Technologies Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.52 per share. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, February 27th. Watts Water Technologies's payout ratio is 20.45%.
Institutional Investors Weigh In On Watts Water Technologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wexford Capital LP acquired a new position in shares of Watts Water Technologies during the 3rd quarter worth approximately $26,000. MTM Investment Management LLC bought a new position in shares of Watts Water Technologies in the second quarter valued at about $25,000. Acumen Wealth Advisors LLC acquired a new stake in Watts Water Technologies during the 4th quarter worth approximately $28,000. Advisory Services Network LLC acquired a new position in shares of Watts Water Technologies in the third quarter valued at about $29,000. Finally, Clearstead Advisors LLC grew its position in shares of Watts Water Technologies by 69.4% during the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company's stock worth $29,000 after purchasing an additional 43 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Wall Street Zen raised Watts Water Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, January 10th. Robert W. Baird set a $361.00 target price on Watts Water Technologies in a research report on Friday, February 13th. TD Cowen reiterated a "hold" rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. KeyCorp increased their price objective on Watts Water Technologies from $340.00 to $360.00 and gave the stock an "overweight" rating in a research note on Thursday, February 12th. Finally, Barclays boosted their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $334.11.
Check Out Our Latest Stock Analysis on WTS
Watts Water Technologies Company Profile
(
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.
Featured Stories
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].
