Shashank Patel Sells 4,569 Shares of Watts Water Technologies, Inc. (NYSE:WTS) Stock

Watts Water Technologies, Inc. (NYSE:WTS) CFO Shashank Patel sold 4,569 shares of Watts Water Technologies stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $209.10, for a total transaction of $955,377.90. Following the transaction, the chief financial officer now directly owns 15,635 shares of the company’s stock, valued at $3,269,278.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Watts Water Technologies Stock Up 0.6 %

Shares of NYSE:WTS opened at $208.45 on Friday. The firm has a market cap of $6.95 billion, a P/E ratio of 24.99, a PEG ratio of 2.98 and a beta of 0.90. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $219.52. The business’s 50 day simple moving average is $201.10 and its two-hundred day simple moving average is $197.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.55 and a current ratio of 2.55.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. 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 previous year, the business posted $2.04 EPS. Watts Water Technologies’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Watts Water Technologies, Inc. will post 8.74 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

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

Institutional Trading of Watts Water Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. purchased a new position in shares of Watts Water Technologies during the third quarter valued at approximately $302,000. Intech Investment Management LLC bought a new position in Watts Water Technologies during the 3rd quarter valued at $1,068,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Watts Water Technologies by 28.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 96,428 shares of the technology company’s stock worth $19,979,000 after acquiring an additional 21,214 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of Watts Water Technologies by 0.5% in the third quarter. King Luther Capital Management Corp now owns 18,816 shares of the technology company’s stock valued at $3,898,000 after purchasing an additional 92 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in shares of Watts Water Technologies by 24.4% in the third quarter. Banque Cantonale Vaudoise now owns 5,879 shares of the technology company’s stock valued at $1,218,000 after purchasing an additional 1,154 shares during the last quarter. 95.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WTS has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. StockNews.com raised Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Northcoast Research raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Monday, November 4th. Finally, Stifel Nicolaus lowered their price objective on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Watts Water Technologies currently has an average rating of “Hold” and a consensus price target of $200.25.

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.