Joseph Noonan Sells 3,650 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) Director Joseph Noonan sold 3,650 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Watts Water Technologies Price Performance

Shares of WTS stock traded down $2.84 during trading hours on Wednesday, reaching $352.90. The company had a trading volume of 42,848 shares, compared to its average volume of 268,784. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66. The stock has a fifty day moving average of $362.79 and a 200-day moving average of $328.00. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 3.59 and a beta of 1.13. 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) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.32. The firm had revenue of $763.10 million for the quarter, compared to the consensus estimate of $725.99 million. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The firm’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.09 earnings per share. On average, equities 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. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s payout ratio is presently 22.01%.

Institutional Investors Weigh In On Watts Water Technologies

A number of institutional investors have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Watts Water Technologies in the 2nd quarter worth approximately $3,496,000. California State Teachers Retirement System boosted its position in shares of Watts Water Technologies by 37,958.7% during the 2nd quarter. California State Teachers Retirement System now owns 12,479,817 shares of the technology company’s stock worth $4,885,224,000 after purchasing an additional 12,447,026 shares during the period. AlphaGrep UK Ltd acquired a new stake in Watts Water Technologies in the 2nd quarter valued at approximately $397,000. Turner Financial Group Inc. purchased a new stake in Watts Water Technologies in the second quarter valued at approximately $285,000. Finally, Concurrent Investment Advisors LLC raised its position in Watts Water Technologies by 24.0% in the second quarter. Concurrent Investment Advisors LLC now owns 1,958 shares of the technology company’s stock valued at $766,000 after purchasing an additional 379 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on WTS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research note on Friday, August 7th. Royal Bank Of Canada increased their price target on shares of Watts Water Technologies from $350.00 to $417.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Stifel Nicolaus raised their price target on shares of Watts Water Technologies from $379.00 to $403.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Finally, Barclays upped their price objective on Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Watts Water Technologies has an average rating of “Hold” and an average price target of $367.70.

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.