Robert Pagano, Jr. Sells 16,066 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) CEO Robert Pagano, Jr. sold 16,066 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the transaction, the chief executive officer owned 191,202 shares in the company, valued at $62,582,326.62. This represents a 7.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Watts Water Technologies Stock Down 0.8%

Shares of WTS traded down $2.65 on Friday, reaching $326.67. The stock had a trading volume of 57,224 shares, compared to its average volume of 199,038. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $345.17. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. The company has a 50-day simple moving average of $296.48 and a 200-day simple moving average of $282.73.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. The company had revenue of $625.10 million during the quarter, compared to analysts’ expectations of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. Watts Water Technologies’s revenue was up 15.7% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. Sell-side analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.52 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, February 27th. Watts Water Technologies’s payout ratio is currently 20.45%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, January 8th. Stifel Nicolaus raised their price target on Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a report on Friday, February 13th. Zacks Research upgraded shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. Finally, HSBC assumed coverage on shares of Watts Water Technologies in a research note on Tuesday, January 27th. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $334.11.

Hedge Funds Weigh In On Watts Water Technologies

A number of hedge funds have recently bought and sold shares of WTS. Integrated Wealth Concepts LLC boosted its holdings in shares of Watts Water Technologies by 10.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock valued at $385,000 after acquiring an additional 174 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Watts Water Technologies by 80.2% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock valued at $222,000 after purchasing an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Watts Water Technologies by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after purchasing an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Watts Water Technologies in the second quarter worth approximately $219,000. Finally, CWM LLC grew its position in Watts Water Technologies by 59.1% in the 2nd quarter. CWM LLC now owns 1,125 shares of the technology company’s stock worth $277,000 after purchasing an additional 418 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

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.