Insider Selling: Watts Water Technologies (NYSE:WTS) Major Shareholder Sells $2,475,300.00 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) major shareholder Timothy Horne sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $330.04, for a total value of $2,475,300.00. Following the transaction, the insider directly owned 7,500 shares in the company, valued at $2,475,300. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Watts Water Technologies Trading Down 0.3%

Shares of Watts Water Technologies stock opened at $329.73 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49. The business has a fifty day simple moving average of $300.33 and a two-hundred day simple moving average of $284.69. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $345.17. The company has a market capitalization of $11.00 billion, a price-to-earnings ratio of 32.42, a P/E/G ratio of 3.01 and a beta of 1.24.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data 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. The company had revenue of $625.10 million for the quarter, compared to analyst estimates of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The company’s revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. Research analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.52 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, February 27th. Watts Water Technologies’s payout ratio is currently 20.45%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Zacks Research raised Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Wall Street Zen raised Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. KeyCorp upped their price target on shares of Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. HSBC initiated coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus increased their target price on shares of Watts Water Technologies from $320.00 to $389.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $334.11.

Institutional Investors Weigh In On Watts Water Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Boston Partners raised its position in shares of Watts Water Technologies by 2.2% in the 3rd quarter. Boston Partners now owns 907,336 shares of the technology company’s stock valued at $253,211,000 after buying an additional 19,247 shares in the last quarter. Geode Capital Management LLC increased its stake in Watts Water Technologies by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 832,148 shares of the technology company’s stock valued at $229,721,000 after acquiring an additional 25,501 shares during the last quarter. First Trust Advisors LP increased its stake in Watts Water Technologies by 0.9% in the second quarter. First Trust Advisors LP now owns 545,724 shares of the technology company’s stock valued at $134,188,000 after acquiring an additional 4,689 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Watts Water Technologies by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 522,624 shares of the technology company’s stock valued at $144,261,000 after purchasing an additional 1,418 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in 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 during the last quarter. Institutional investors own 95.02% of the company’s stock.

About Watts Water Technologies

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.