Watts Water Technologies (NYSE:WTS) Director Michael Dubose Sells 398 Shares

Key Points

• Insider sale: Watts Water Technologies director Michael Dubose sold 398 shares on May 28 at an average price of $309.63, totaling about $123,233. After the sale, he still held 1,814 shares.
• Strong quarterly results: The company reported Q1 earnings of $3.04 per share, topping estimates of $2.72, on revenue of $677.3 million versus expectations of $638.1 million. Revenue rose 21.4% year over year.
• Dividend and analyst view: Watts announced a quarterly dividend of $0.63 per share, payable June 15, and now yields about 0.8%. Analysts currently have a consensus Hold rating with an average price target of $329.44.

Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) Director Michael Dubose sold 398 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the transaction, the director owned 1,814 shares in the company, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Watts Water Technologies Stock Performance

NYSE:WTS traded down $4.18 during midday trading on Thursday, reaching $310.62. The stock had a trading volume of 396,517 shares, compared to its average volume of 233,448. Watts Water Technologies, Inc. has a 1-year low of $237.15 and a 1-year high of $345.17. The firm's fifty day simple moving average is $298.04 and its 200-day simple moving average is $295.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The stock has a market capitalization of $10.37 billion, a P/E ratio of 28.42, a PEG ratio of 2.77 and a beta of 1.20.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating analysts' consensus estimates of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same period in the prior year, the firm earned $2.37 EPS. The business's revenue was up 21.4% on a year-over-year basis. On average, equities research analysts forecast that Watts Water Technologies, Inc. will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, June 1st. Watts Water Technologies's payout ratio is 23.06%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Zacks Research downgraded shares of Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, February 27th. Royal Bank Of Canada lifted their price target on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. Barclays dropped their target price on shares of Watts Water Technologies from $323.00 to $317.00 and set an "equal weight" rating for the company in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $358.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $329.44.

Institutional Investors Weigh In On Watts Water Technologies

Several large investors have recently bought and sold shares of the company. Advyzon Investment Management LLC increased its stake in Watts Water Technologies by 3.8% in the fourth quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company's stock valued at $233,000 after purchasing an additional 31 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Watts Water Technologies by 0.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company's stock worth $1,149,000 after purchasing an additional 32 shares in the last quarter. C M Bidwell & Associates Ltd. increased its holdings in Watts Water Technologies by 5.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company's stock worth $179,000 after purchasing an additional 34 shares in the last quarter. Centennial Wealth Advisory LLC increased its holdings in Watts Water Technologies by 3.8% during the 4th quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company's stock worth $279,000 after purchasing an additional 37 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Watts Water Technologies by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company's stock worth $1,521,000 after purchasing an additional 38 shares in 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.

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