Joseph Noonan Sells 3,650 Shares of Watts Water Technologies (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) Director Joseph Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Watts Water Technologies Trading Up 1.0%

WTS stock opened at $355.45 on Friday. Watts Water Technologies, Inc. has a 1-year low of $260.00 and a 1-year high of $394.54. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $362.37 and its 200-day moving average is $328.30. The firm has a market cap of $11.86 billion, a P/E ratio of 31.04, a P/E/G ratio of 3.45 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping the consensus estimate of $3.34 by $0.32. The business had revenue of $763.10 million during the quarter, compared to the consensus estimate of $725.99 million. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.Watts Water Technologies’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the company earned $3.09 EPS. Equities analysts anticipate that Watts Water Technologies, Inc. will post 12.75 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 22.01%.

Wall Street Analysts Forecast Growth

WTS has been the topic of several analyst reports. Weiss Ratings raised shares of Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. The Goldman Sachs Group reissued a “neutral” rating and set a $374.00 price target on shares of Watts Water Technologies in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. TD Cowen upped their price objective on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Finally, Barclays raised their price objective on shares of Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $367.70.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WTS. California State Teachers Retirement System raised its position in shares of Watts Water Technologies by 37,958.7% during the second quarter. California State Teachers Retirement System now owns 12,479,817 shares of the technology company’s stock worth $4,885,224,000 after acquiring an additional 12,447,026 shares during the last quarter. Norges Bank acquired a new position in shares of Watts Water Technologies during the fourth quarter valued at $100,627,000. AQR Capital Management LLC boosted its holdings in Watts Water Technologies by 148.3% in the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after acquiring an additional 165,837 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Watts Water Technologies by 20,071.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock valued at $40,989,000 after acquiring an additional 140,500 shares during the last quarter. Finally, UBS Group AG increased its position in Watts Water Technologies by 223.0% in the third quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after purchasing an additional 139,637 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

About Watts Water Technologies

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.