Watts Water Technologies Inc (WTS) Sees Large Decline in Short Interest

Watts Water Technologies Inc (NYSE:WTS) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 555,068 shares, a decrease of 36.5% from the November 30th total of 874,103 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average daily volume of 157,052 shares, the days-to-cover ratio is presently 3.5 days.

Several equities research analysts have recently commented on WTS shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price target on shares of Watts Water Technologies in a research report on Thursday, December 14th. Boenning Scattergood reiterated a “buy” rating on shares of Watts Water Technologies in a research note on Thursday, November 2nd. Zacks Investment Research downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Robert W. Baird reiterated a “hold” rating and set a $71.00 price objective on shares of Watts Water Technologies in a research note on Wednesday, October 4th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Watts Water Technologies in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $73.83.

Watts Water Technologies (WTS) opened at $76.25 on Friday. The stock has a market capitalization of $2,600.00, a P/E ratio of 28.35, a P/E/G ratio of 1.92 and a beta of 1.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 2.57. Watts Water Technologies has a 52 week low of $59.15 and a 52 week high of $78.05.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.03. The company had revenue of $347.70 million during the quarter, compared to the consensus estimate of $361.22 million. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. research analysts predict that Watts Water Technologies will post 3.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 28.25%.

In other news, CEO Robert J. Pagano, Jr. sold 11,852 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $73.53, for a total transaction of $871,477.56. Following the completion of the sale, the chief executive officer now owns 137,474 shares of the company’s stock, valued at approximately $10,108,463.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elie Melhem sold 2,545 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $70.48, for a total transaction of $179,371.60. The disclosure for this sale can be found here. Insiders have sold a total of 18,348 shares of company stock valued at $1,339,628 in the last ninety days. Insiders own 1.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. AHL Partners LLP boosted its stake in Watts Water Technologies by 47.6% in the 2nd quarter. AHL Partners LLP now owns 60,511 shares of the technology company’s stock worth $3,824,000 after purchasing an additional 19,513 shares during the period. Goldman Sachs Group Inc. boosted its stake in Watts Water Technologies by 5.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 719,108 shares of the technology company’s stock worth $45,448,000 after purchasing an additional 36,723 shares during the period. Legal & General Group Plc boosted its stake in Watts Water Technologies by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 54,436 shares of the technology company’s stock worth $3,440,000 after purchasing an additional 4,375 shares during the period. Guyasuta Investment Advisors Inc. boosted its stake in Watts Water Technologies by 10.6% in the 3rd quarter. Guyasuta Investment Advisors Inc. now owns 20,800 shares of the technology company’s stock worth $1,439,000 after purchasing an additional 2,000 shares during the period. Finally, Palisade Capital Management LLC NJ boosted its stake in Watts Water Technologies by 10.5% in the 3rd quarter. Palisade Capital Management LLC NJ now owns 201,205 shares of the technology company’s stock worth $13,923,000 after purchasing an additional 19,179 shares during the period. Institutional investors and hedge funds own 77.55% of the company’s stock.

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About Watts Water Technologies

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

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