Watts Water Technologies Inc (WTS) Major Shareholder Timothy P. Horne Sells 3,719 Shares of Stock

Watts Water Technologies Inc (NYSE:WTS) major shareholder Timothy P. Horne sold 3,719 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $81.00, for a total transaction of $301,239.00. Following the sale, the insider now owns 29,700 shares of the company’s stock, valued at approximately $2,405,700. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of WTS stock traded down $0.84 on Thursday, hitting $78.82. The stock had a trading volume of 2,456 shares, compared to its average volume of 125,785. Watts Water Technologies Inc has a twelve month low of $61.17 and a twelve month high of $93.35. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 2.01 and a beta of 1.23. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 0.36.

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Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Thursday, February 7th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.01. Watts Water Technologies had a net margin of 7.97% and a return on equity of 14.72%. The company had revenue of $387.60 million during the quarter, compared to analyst estimates of $382.33 million. During the same quarter in the previous year, the business earned $0.74 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. Research analysts expect that Watts Water Technologies Inc will post 4.07 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, February 28th. Watts Water Technologies’s dividend payout ratio (DPR) is 22.46%.

WTS has been the subject of several recent research reports. Seaport Global Securities upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 4th. Oppenheimer reissued a “hold” rating on shares of Watts Water Technologies in a report on Monday, February 11th. Finally, Janney Montgomery Scott lowered shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and boosted their price target for the company from $81.00 to $83.00 in a report on Monday, February 11th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $89.50.

Several hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in Watts Water Technologies by 70.0% in the 4th quarter. FMR LLC now owns 425 shares of the technology company’s stock worth $27,000 after purchasing an additional 175 shares during the period. We Are One Seven LLC acquired a new position in Watts Water Technologies in the 4th quarter worth $32,000. Quantamental Technologies LLC acquired a new position in Watts Water Technologies in the 4th quarter worth $52,000. Clean Yield Group acquired a new position in Watts Water Technologies in the 4th quarter worth $88,000. Finally, Whittier Trust Co. acquired a new position in Watts Water Technologies in the 4th quarter worth $90,000. 76.03% of the stock is owned by institutional investors.

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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. The company 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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