Insider Selling: Watts Water Technologies (NYSE:WTS) General Counsel Sells $1,613,427.00 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) General Counsel Kenneth Robert Lepage sold 5,025 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total value of $1,613,427.00. Following the completion of the transaction, the general counsel directly owned 12,284 shares in the company, valued at approximately $3,944,146.72. This trade represents a 29.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Watts Water Technologies Stock Down 0.8%

Shares of NYSE:WTS opened at $326.57 on Friday. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 3.00 and a beta of 1.24. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $345.17. The business has a 50-day moving average price of $297.43 and a 200 day moving average price of $283.19. 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 (NYSE:WTS) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The company had revenue of $625.10 million during the quarter, compared to analyst estimates of $610.40 million. During the same quarter last year, the firm posted $2.05 earnings per share. Watts Water Technologies’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.52 dividend. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, February 27th. Watts Water Technologies’s dividend payout ratio (DPR) is 20.45%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WTS. TD Cowen restated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. HSBC started coverage on Watts Water Technologies in a report on Tuesday, January 27th. They set a “buy” rating for the company. Robert W. Baird set a $361.00 target price on Watts Water Technologies in a research report on Friday, February 13th. Barclays increased their price target on shares of Watts Water Technologies from $300.00 to $323.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Finally, Jefferies Financial Group started coverage on shares of Watts Water Technologies in a report on Friday, December 12th. They issued a “hold” rating and a $300.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $334.11.

Institutional Trading of Watts Water Technologies

A number of large investors have recently made changes to their positions in the company. Boston Partners lifted its stake in Watts Water Technologies by 2.2% in the third quarter. Boston Partners now owns 907,336 shares of the technology company’s stock worth $253,211,000 after acquiring an additional 19,247 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Watts Water Technologies by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 832,148 shares of the technology company’s stock valued at $229,721,000 after purchasing an additional 25,501 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Watts Water Technologies by 0.9% in the 2nd quarter. First Trust Advisors LP now owns 545,724 shares of the technology company’s stock valued at $134,188,000 after purchasing an additional 4,689 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Watts Water Technologies by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 522,624 shares of the technology company’s stock worth $144,261,000 after purchasing an additional 1,418 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Watts Water Technologies by 34.4% during the third quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after purchasing an additional 120,090 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Company Profile

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.