Watts Water Technologies (NYSE:WTS) CEO Sells $5,258,562.46 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) CEO Robert Pagano, Jr. sold 16,066 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the sale, the chief executive officer owned 191,202 shares of the company’s stock, valued at approximately $62,582,326.62. The trade was a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Watts Water Technologies Stock Performance

NYSE WTS opened at $326.57 on Monday. The business has a 50 day moving average price of $297.43 and a 200 day moving average price of $283.45. The company has a market capitalization of $10.89 billion, a P/E ratio of 32.11, a PEG ratio of 2.97 and a beta of 1.24. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $345.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The company had revenue of $625.10 million for the quarter, compared to analyst estimates of $610.40 million. During the same quarter in the prior year, the company earned $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 fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.52 per share. 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%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They set a “hold” rating and a $300.00 price objective for the company. The Goldman Sachs Group increased their target price on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Royal Bank Of Canada boosted their price target on Watts Water Technologies from $288.00 to $337.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Watts Water Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $334.11.

Hedge Funds Weigh In On Watts Water Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Wexford Capital LP acquired a new stake in Watts Water Technologies in the 3rd quarter worth about $26,000. MTM Investment Management LLC purchased a new position in shares of Watts Water Technologies during the 2nd quarter worth about $25,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Watts Water Technologies in the fourth quarter worth approximately $28,000. Advisory Services Network LLC purchased a new stake in Watts Water Technologies in the third quarter valued at approximately $29,000. Finally, Clearstead Advisors LLC increased its position in Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after purchasing an additional 43 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

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.