Key Points
- Director Joseph Noonan sold 3,650 Watts Water Technologies shares at an average price of $353.72, generating approximately $1.29 million in proceeds.
- WTS shares opened at $351.83, with the stock down 1.1%; the company has a $11.75 billion market capitalization and trades at a P/E ratio of 30.73.
- Watts reported quarterly revenue of $763.1 million and adjusted earnings of $3.66 per share, beating analyst estimates, while analysts maintain a consensus “Hold” rating with an average price target of $367.70.
Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) Director Joseph Noonan sold 3,650 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a filing with the SEC, which is available through this link.
Watts Water Technologies Trading Down 1.1%
Shares of WTS stock opened at $351.83 on Thursday. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The firm has a market cap of $11.75 billion, a P/E ratio of 30.73, a PEG ratio of 3.49 and a beta of 1.13. The company has a 50 day moving average of $362.75 and a 200-day moving average of $328.11. Watts Water Technologies, Inc. has a 12-month low of $260.00 and a 12-month high of $394.54.
Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The business had revenue of $763.10 million for the quarter, compared to the consensus estimate of $725.99 million. During the same quarter in the prior year, the business earned $3.09 earnings per share. Watts Water Technologies's revenue for the quarter was up 18.6% on a year-over-year basis. Sell-side analysts anticipate that Watts Water Technologies, Inc. will post 12.75 earnings per share for the current year.
Watts Water Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Watts Water Technologies's dividend payout ratio is currently 22.01%.
Hedge Funds Weigh In On Watts Water Technologies
Large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC raised its stake in shares of Watts Water Technologies by 10.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company's stock valued at $385,000 after purchasing an additional 174 shares during the period. Jones Financial Companies Lllp boosted its stake in Watts Water Technologies by 80.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company's stock worth $222,000 after purchasing an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Watts Water Technologies by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company's stock worth $20,163,000 after purchasing an additional 7,537 shares during the period. Sivia Capital Partners LLC purchased a new position in Watts Water Technologies during the 2nd quarter valued at about $219,000. Finally, Cetera Investment Advisers grew its holdings in Watts Water Technologies by 43.2% during the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company's stock valued at $426,000 after buying an additional 523 shares in the last quarter. 95.02% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on WTS shares. Barclays lifted their price objective on Watts Water Technologies from $414.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. TD Cowen upped their price objective on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a "hold" rating in a report on Thursday, July 2nd. Weiss Ratings raised shares of Watts Water Technologies from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday. Royal Bank Of Canada increased their target price on shares of Watts Water Technologies from $350.00 to $417.00 and gave the stock a "sector perform" rating in a research report on Friday, August 7th. Finally, Robert W. Baird set a $405.00 target price on shares of Watts Water Technologies in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of "Hold" and an average price target of $367.70.
Check Out Our Latest Analysis on WTS
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.
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