Insider Selling: Watts Water Technologies Inc (WTS) General Counsel Sells $870,598.05 in Stock

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Watts Water Technologies Inc (NYSE:WTS) General Counsel Kenneth Robert Lepage sold 10,115 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $86.07, for a total transaction of $870,598.05. Following the sale, the general counsel now owns 39,966 shares in the company, valued at $3,439,873.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Kenneth Robert Lepage also recently made the following trade(s):

  • On Thursday, July 26th, Kenneth Robert Lepage sold 6,201 shares of Watts Water Technologies stock. The stock was sold at an average price of $85.00, for a total transaction of $527,085.00.
  • On Friday, July 20th, Kenneth Robert Lepage sold 15,476 shares of Watts Water Technologies stock. The stock was sold at an average price of $7,420.42, for a total transaction of $114,838,419.92.

Shares of NYSE:WTS opened at $84.05 on Friday. Watts Water Technologies Inc has a 52 week low of $59.15 and a 52 week high of $93.35. The company has a current ratio of 2.29, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.94 and a beta of 1.05.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, August 1st. The technology company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.04. Watts Water Technologies had a net margin of 5.83% and a return on equity of 13.88%. The company had revenue of $407.90 million for the quarter, compared to the consensus estimate of $403.60 million. During the same period in the prior year, the firm posted $0.83 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. research analysts forecast that Watts Water Technologies Inc will post 3.69 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, August 30th. Watts Water Technologies’s dividend payout ratio is presently 27.81%.

A number of equities research analysts have issued reports on the stock. Boenning Scattergood reiterated a “neutral” rating on shares of Watts Water Technologies in a report on Thursday, August 2nd. Northcoast Research reiterated a “buy” rating and set a $105.00 target price on shares of Watts Water Technologies in a report on Friday, August 3rd. Stifel Nicolaus increased their target price on shares of Watts Water Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Robert W. Baird reiterated a “hold” rating and set a $82.00 target price on shares of Watts Water Technologies in a report on Friday, July 20th. Finally, Zacks Investment Research upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Saturday, July 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $85.33.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Watts Water Technologies by 9.3% in the 2nd quarter. BlackRock Inc. now owns 4,546,758 shares of the technology company’s stock valued at $356,466,000 after purchasing an additional 385,696 shares during the last quarter. GAM Holding AG purchased a new stake in shares of Watts Water Technologies in the 2nd quarter valued at approximately $368,000. Pinebridge Investments L.P. increased its position in shares of Watts Water Technologies by 3.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 25,262 shares of the technology company’s stock valued at $1,981,000 after purchasing an additional 925 shares during the last quarter. Swiss National Bank increased its position in shares of Watts Water Technologies by 4.6% in the 2nd quarter. Swiss National Bank now owns 48,200 shares of the technology company’s stock valued at $3,779,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Wesbanco Bank Inc. increased its position in shares of Watts Water Technologies by 49.0% in the 2nd quarter. Wesbanco Bank Inc. now owns 10,066 shares of the technology company’s stock valued at $789,000 after purchasing an additional 3,310 shares during the last quarter. 76.34% of the stock is currently owned by institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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