Key Points
- Director Michael Dubose sold 332 shares on March 12 at an average price of $301.70 for about $100,164, reducing his ownership by 13.05% to 2,212 shares (valued at roughly $667,360).
- The company posted a quarterly beat with EPS of $2.62 versus $2.36 expected and revenue of $625.1M (up 15.7% year-over-year), with a net margin of 13.98% and ROE of 18.55%.
- Watts pays a monthly dividend of $0.52 (annualized yield ~2.1%, DPR ~20.45%), and analysts show mixed sentiment—consensus rating is "Hold" with a $334.11 average target while several firms have recently raised price targets (KeyCorp to $360).
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) Director Michael Dubose sold 332 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $301.70, for a total value of $100,164.40. Following the completion of the transaction, the director directly owned 2,212 shares of the company's stock, valued at $667,360.40. The trade was a 13.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Watts Water Technologies Trading Down 1.8%
Watts Water Technologies stock opened at $297.83 on Friday. 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, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The stock's 50 day simple moving average is $308.25 and its two-hundred day simple moving average is $287.88. The firm has a market cap of $9.93 billion, a PE ratio of 29.28, a P/E/G ratio of 2.75 and a beta of 1.23.
Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.26. The business had revenue of $625.10 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. Analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.
Watts Water Technologies Dividend Announcement
The firm also recently disclosed a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a $0.52 dividend. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, February 27th. Watts Water Technologies's dividend payout ratio (DPR) is presently 20.45%.
Analyst Ratings Changes
Several brokerages have recently weighed in on WTS. KeyCorp upped their target price 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. Royal Bank Of Canada boosted their price target on shares of Watts Water Technologies from $288.00 to $337.00 and gave the stock a "sector perform" rating in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $339.00 price objective on shares of Watts Water Technologies in a research report on Friday, February 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Watts Water Technologies in a report on Monday, December 29th. Finally, HSBC initiated coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They issued a "buy" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $334.11.
View Our Latest Stock Analysis on WTS
Institutional Investors Weigh In On Watts Water Technologies
A number of hedge funds have recently modified their holdings of WTS. Groupama Asset Managment lifted its stake in shares of Watts Water Technologies by 14.9% in the fourth quarter. Groupama Asset Managment now owns 76,674 shares of the technology company's stock worth $21,164,000 after buying an additional 9,934 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Watts Water Technologies by 124.4% in the 4th quarter. Pacer Advisors Inc. now owns 8,174 shares of the technology company's stock valued at $2,256,000 after acquiring an additional 4,531 shares during the last quarter. Corient Private Wealth LLC raised its holdings in Watts Water Technologies by 36.1% in the 4th quarter. Corient Private Wealth LLC now owns 6,140 shares of the technology company's stock valued at $1,695,000 after acquiring an additional 1,627 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Watts Water Technologies by 16.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,896 shares of the technology company's stock worth $799,000 after purchasing an additional 407 shares in the last quarter. Finally, Vident Advisory LLC lifted its stake in Watts Water Technologies by 45.2% in the 4th quarter. Vident Advisory LLC now owns 3,008 shares of the technology company's stock worth $830,000 after purchasing an additional 936 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.
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.
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