Watts Water Technologies (NYSE:WTS) Major Shareholder Sells $1,948,878.10 in Stock

Watts Water Technologies, Inc. (NYSE:WTS) major shareholder Timothy Horne sold 6,994 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $278.65, for a total value of $1,948,878.10. Following the sale, the insider owned 23,006 shares in the company, valued at approximately $6,410,621.90. This trade represents a 23.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Watts Water Technologies Trading Down 0.5%

NYSE WTS traded down $1.50 on Thursday, hitting $274.93. The company’s stock had a trading volume of 23,539 shares, compared to its average volume of 189,656. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $287.89. The firm has a market cap of $9.17 billion, a PE ratio of 29.54, a PEG ratio of 3.27 and a beta of 1.17. The company’s 50-day moving average is $277.61 and its 200 day moving average is $259.67.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The firm had revenue of $611.70 million for the quarter, compared to the consensus estimate of $576.20 million. During the same period in the previous year, the business earned $2.03 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Watts Water Technologies has set its FY 2025 guidance at EPS. As a group, analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Watts Water Technologies’s dividend payout ratio is 21.47%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Barclays raised their price objective on shares of Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Stifel Nicolaus boosted their target price on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Weiss Ratings restated a “buy (b+)” rating on shares of Watts Water Technologies in a report on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Watts Water Technologies in a report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and a consensus target price of $264.25.

Institutional Investors Weigh In On Watts Water Technologies

Several large investors have recently added to or reduced their stakes in the business. Cerity Partners LLC boosted its position in shares of Watts Water Technologies by 8.3% during the 1st quarter. Cerity Partners LLC now owns 13,443 shares of the technology company’s stock valued at $2,741,000 after acquiring an additional 1,033 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Watts Water Technologies by 1.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 7,700 shares of the technology company’s stock valued at $1,570,000 after acquiring an additional 100 shares during the period. CWM LLC grew its holdings in shares of Watts Water Technologies by 47.6% in the first quarter. CWM LLC now owns 707 shares of the technology company’s stock worth $144,000 after purchasing an additional 228 shares during the last quarter. Securian Asset Management Inc. increased its position in shares of Watts Water Technologies by 5.0% in the first quarter. Securian Asset Management Inc. now owns 2,119 shares of the technology company’s stock valued at $432,000 after acquiring an additional 100 shares during the period. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Watts Water Technologies during the first quarter valued at approximately $2,488,000. Institutional investors own 95.02% of the company’s stock.

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.