Watts Water Technologies, Inc. (NYSE:WTS) Director Sells $195,682.85 in Stock

Key Points

• Director Joseph T. Noonan sold 713 shares of Watts Water Technologies at an average price of $274.45, totaling approximately $195,682.85, which reduced his ownership by 37.39%.
• Watts Water Technologies reported $3.09 EPS for the last quarter, exceeding estimates by $0.41, with revenue increasing by 7.8% year-over-year.
• The company declared a quarterly dividend of $0.52 per share, resulting in an annualized dividend yield of 0.7% for shareholders.

Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) Director Joseph T. Noonan sold 713 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the transaction, the director owned 1,194 shares in the company, valued at $327,693.30. This represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Watts Water Technologies Stock Performance

Shares of WTS stock traded down $3.19 during midday trading on Friday, hitting $271.23. 156,366 shares of the company were exchanged, compared to its average volume of 247,480. The firm has a market capitalization of $9.05 billion, a P/E ratio of 29.16, a PEG ratio of 3.32 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. The firm's 50 day moving average price is $253.02 and its two-hundred day moving average price is $227.98. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $278.20.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.41. The firm had revenue of $643.70 million during the quarter, compared to the consensus estimate of $612.15 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 EPS. As a group, equities research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.52 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. Watts Water Technologies's payout ratio is presently 22.37%.

Hedge Funds Weigh In On Watts Water Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cerity Partners LLC increased its position in Watts Water Technologies by 0.5% during the 4th quarter. Cerity Partners LLC now owns 12,410 shares of the technology company's stock worth $2,541,000 after purchasing an additional 58 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Watts Water Technologies by 0.6% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 10,796 shares of the technology company's stock valued at $2,655,000 after purchasing an additional 65 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Watts Water Technologies by 0.8% in the second quarter. Johnson Investment Counsel Inc. now owns 9,416 shares of the technology company's stock valued at $2,315,000 after purchasing an additional 71 shares during the last quarter. CW Advisors LLC boosted its position in Watts Water Technologies by 4.9% during the second quarter. CW Advisors LLC now owns 1,578 shares of the technology company's stock worth $388,000 after purchasing an additional 74 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Watts Water Technologies by 2.0% in the first quarter. Mackenzie Financial Corp now owns 4,172 shares of the technology company's stock valued at $851,000 after acquiring an additional 80 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WTS shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Wall Street Zen upgraded shares of Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Northcoast Research downgraded shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, May 16th. Finally, Stifel Nicolaus lifted their price objective on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $245.50.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.