Watts Water Technologies Inc (NYSE:WTS) major shareholder Timothy P. Horne sold 10,142 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $79.57, for a total transaction of $806,998.94. Following the transaction, the insider now directly owns 2,358 shares of the company’s stock, valued at $187,626.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of NYSE:WTS opened at $79.00 on Friday. The company has a market capitalization of $2.68 billion, a PE ratio of 21.12, a P/E/G ratio of 1.94 and a beta of 1.22. Watts Water Technologies Inc has a twelve month low of $61.17 and a twelve month high of $93.35. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 0.36.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Thursday, February 7th. The technology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $387.60 million during the quarter, compared to analyst estimates of $382.33 million. Watts Water Technologies had a net margin of 7.97% and a return on equity of 14.71%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. Equities analysts forecast that Watts Water Technologies Inc will post 4.07 earnings per share for the current year.
Several large investors have recently modified their holdings of WTS. Norges Bank acquired a new stake in shares of Watts Water Technologies in the 4th quarter worth approximately $30,091,000. Victory Capital Management Inc. lifted its stake in shares of Watts Water Technologies by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 969,869 shares of the technology company’s stock worth $62,586,000 after acquiring an additional 182,700 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Watts Water Technologies by 6,087.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 175,664 shares of the technology company’s stock worth $14,580,000 after purchasing an additional 172,825 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Watts Water Technologies by 5.1% in the 4th quarter. Impax Asset Management Group plc now owns 2,529,189 shares of the technology company’s stock worth $163,209,000 after purchasing an additional 122,256 shares in the last quarter. Finally, Man Group plc raised its holdings in shares of Watts Water Technologies by 205.5% in the 3rd quarter. Man Group plc now owns 113,835 shares of the technology company’s stock worth $9,448,000 after purchasing an additional 76,570 shares in the last quarter. 75.89% of the stock is owned by institutional investors.
A number of research firms have issued reports on WTS. Janney Montgomery Scott lowered shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and boosted their target price for the company from $81.00 to $83.00 in a research note on Monday, February 11th. Oppenheimer reissued a “hold” rating on shares of Watts Water Technologies in a research note on Monday, February 11th. Finally, Seaport Global Securities raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $89.50.
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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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