Insider Selling: Watts Water Technologies, Inc. (NYSE:WTS) CEO Sells 20,810 Shares of Stock

Watts Water Technologies, Inc. (NYSE:WTS) CEO Robert J. Pagano, Jr. sold 20,810 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $212.20, for a total value of $4,415,882.00. Following the completion of the transaction, the chief executive officer now owns 176,045 shares in the company, valued at approximately $37,356,749. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Watts Water Technologies Stock Performance

Shares of NYSE WTS opened at $208.45 on Monday. The stock has a market cap of $6.95 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 2.98 and a beta of 0.90. Watts Water Technologies, Inc. has a 1 year low of $175.37 and a 1 year high of $219.52. The firm has a fifty day moving average price of $201.10 and a 200-day moving average price of $197.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. The business had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.83 million. During the same quarter in the prior year, the business posted $2.04 EPS. Watts Water Technologies’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Watts Water Technologies, Inc. will post 8.74 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Friday, November 29th. Watts Water Technologies’s payout ratio is presently 20.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus decreased their target price on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $200.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Seven Eight Capital LP bought a new stake in shares of Watts Water Technologies in the 1st quarter valued at approximately $1,366,000. AE Wealth Management LLC raised its stake in shares of Watts Water Technologies by 64.9% in the second quarter. AE Wealth Management LLC now owns 71,555 shares of the technology company’s stock valued at $13,121,000 after acquiring an additional 28,170 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Watts Water Technologies during the second quarter valued at approximately $2,897,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Watts Water Technologies by 54.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 44,840 shares of the technology company’s stock worth $9,348,000 after acquiring an additional 15,901 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Watts Water Technologies by 21.1% during the 1st quarter. Sei Investments Co. now owns 35,918 shares of the technology company’s stock valued at $7,634,000 after acquiring an additional 6,255 shares during the period. 95.02% of the stock is owned by hedge funds and other 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.