Insider Selling: Watts Water Technologies, Inc. (NYSE:WTS) CFO Sells 1,508 Shares of Stock

Watts Water Technologies, Inc. (NYSE:WTS) CFO Shashank Patel sold 1,508 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.10, for a total value of $324,370.80. Following the transaction, the chief financial officer now directly owns 20,204 shares in the company, valued at $4,345,880.40. The sale was disclosed in a document filed with the SEC, which is available at this link.

Watts Water Technologies Trading Down 0.8 %

Shares of WTS stock opened at $208.50 on Monday. The business has a 50-day moving average of $207.29 and a 200 day moving average of $202.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 1.44. Watts Water Technologies, Inc. has a 1-year low of $156.85 and a 1-year high of $219.52. The stock has a market capitalization of $6.96 billion, a PE ratio of 25.87, a P/E/G ratio of 3.04 and a beta of 0.95.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, May 8th. The technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.22. Watts Water Technologies had a return on equity of 19.61% and a net margin of 12.53%. The firm had revenue of $570.90 million during the quarter, compared to analyst estimates of $547.20 million. During the same quarter in the prior year, the firm posted $1.92 earnings per share. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Watts Water Technologies, Inc. will post 8.57 earnings per share for the current year.

Watts Water Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.36. Watts Water Technologies’s dividend payout ratio (DPR) is 17.87%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Stifel Nicolaus increased their price target on shares of Watts Water Technologies from $206.00 to $209.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Robert W. Baird increased their target price on shares of Watts Water Technologies from $212.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Watts Water Technologies presently has a consensus rating of “Hold” and an average price target of $199.50.

Hedge Funds Weigh In On Watts Water Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of Watts Water Technologies in the first quarter worth about $26,000. Contravisory Investment Management Inc. purchased a new position in shares of Watts Water Technologies during the fourth quarter valued at approximately $26,000. Allworth Financial LP increased its stake in shares of Watts Water Technologies by 47.5% during the fourth quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock valued at $36,000 after buying an additional 56 shares during the period. McGlone Suttner Wealth Management Inc. bought a new position in shares of Watts Water Technologies during the fourth quarter valued at approximately $39,000. Finally, AdvisorNet Financial Inc lifted its stake in Watts Water Technologies by 2,857.1% in the fourth quarter. AdvisorNet Financial Inc now owns 207 shares of the technology company’s stock worth $43,000 after acquiring an additional 200 shares during the period. 95.02% of the stock is owned by institutional investors.

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.