Short Interest in Watts Water Technologies Inc (WTS) Drops By 36.5%

Watts Water Technologies Inc (NYSE:WTS) was the target of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 555,068 shares, a decline of 36.5% from the November 30th total of 874,103 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average trading volume of 157,052 shares, the days-to-cover ratio is presently 3.5 days.

A number of research firms have weighed in on WTS. Cowen reiterated a “hold” rating and set a $58.00 price target on shares of Watts Water Technologies in a research note on Thursday, September 28th. Seaport Global Securities reiterated a “neutral” rating on shares of Watts Water Technologies in a research note on Friday, November 3rd. Robert W. Baird lifted their price target on shares of Watts Water Technologies from $71.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Zacks Investment Research downgraded shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Watts Water Technologies in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Watts Water Technologies has an average rating of “Hold” and an average price target of $73.83.

Shares of Watts Water Technologies (NYSE WTS) opened at $75.95 on Wednesday. Watts Water Technologies has a 52 week low of $59.15 and a 52 week high of $78.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 2.57. The firm has a market cap of $2,590.00, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.94 and a beta of 1.16.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.03. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The firm had revenue of $347.70 million for the quarter, compared to the consensus estimate of $361.22 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. equities analysts forecast that Watts Water Technologies will post 3.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.76 dividend on an annualized basis and a yield of 1.00%. Watts Water Technologies’s dividend payout ratio is currently 28.25%.

In related news, insider Elie Melhem sold 2,545 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $70.48, for a total transaction of $179,371.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert J. Pagano, Jr. sold 3,951 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $73.09, for a total transaction of $288,778.59. Following the transaction, the chief executive officer now directly owns 137,474 shares in the company, valued at approximately $10,047,974.66. The disclosure for this sale can be found here. Insiders have sold 18,348 shares of company stock worth $1,339,628 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Riverhead Capital Management LLC boosted its stake in shares of Watts Water Technologies by 44.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock valued at $109,000 after purchasing an additional 532 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Watts Water Technologies by 157.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock valued at $114,000 after purchasing an additional 1,100 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Watts Water Technologies by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after purchasing an additional 17 shares in the last quarter. Bruderman Asset Management LLC acquired a new stake in shares of Watts Water Technologies in the 2nd quarter valued at $130,000. Finally, Quantbot Technologies LP boosted its stake in shares of Watts Water Technologies by 823.9% in the 2nd quarter. Quantbot Technologies LP now owns 2,282 shares of the technology company’s stock valued at $144,000 after purchasing an additional 2,035 shares in the last quarter. Institutional investors own 77.55% of the company’s stock.

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Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

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