Watts Water Technologies (NYSE:WTS) Trading Down 4.9%

Shares of Watts Water Technologies, Inc. (NYSE:WTS) fell 4.9% during trading on Thursday . The stock traded as low as $180.23 and last traded at $184.28. 17,391 shares changed hands during trading, a decline of 88% from the average session volume of 144,298 shares. The stock had previously closed at $193.68.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WTS shares. StockNews.com downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird cut their target price on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Stifel Nicolaus decreased their target price on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a research report on Friday.

Watts Water Technologies Price Performance

The firm has a market capitalization of $6.09 billion, a P/E ratio of 22.64, a P/E/G ratio of 2.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 1.44. The stock’s fifty day simple moving average is $190.24 and its 200 day simple moving average is $199.87.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.13. The firm had revenue of $597.30 million for the quarter, compared to the consensus estimate of $589.55 million. Watts Water Technologies had a return on equity of 19.61% and a net margin of 12.53%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 EPS. On average, equities research analysts predict that Watts Water Technologies, Inc. will post 8.7 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 21.34%.

Insider Buying and Selling

In related news, CFO Shashank Patel sold 1,508 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total transaction of $324,370.80. Following the completion of the sale, the chief financial officer now directly owns 20,204 shares in the company, valued at $4,345,880.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Elie Melhem sold 2,051 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $215.51, for a total value of $442,011.01. Following the completion of the sale, the insider now owns 13,226 shares of the company’s stock, valued at $2,850,335.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Shashank Patel sold 1,508 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $215.10, for a total transaction of $324,370.80. Following the completion of the transaction, the chief financial officer now owns 20,204 shares in the company, valued at $4,345,880.40. The disclosure for this sale can be found here. Insiders sold a total of 5,753 shares of company stock worth $1,236,753 in the last 90 days. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WTS. Allworth Financial LP lifted its stake in Watts Water Technologies by 47.5% during the fourth quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock worth $36,000 after purchasing an additional 56 shares in the last quarter. QRG Capital Management Inc. raised its stake in Watts Water Technologies by 3.4% in the fourth quarter. QRG Capital Management Inc. now owns 2,013 shares of the technology company’s stock valued at $419,000 after buying an additional 66 shares in the last quarter. Park Avenue Securities LLC boosted its position in shares of Watts Water Technologies by 4.2% during the 1st quarter. Park Avenue Securities LLC now owns 1,645 shares of the technology company’s stock worth $350,000 after acquiring an additional 67 shares in the last quarter. Banco Santander S.A. raised its position in shares of Watts Water Technologies by 1.2% during the 2nd quarter. Banco Santander S.A. now owns 6,424 shares of the technology company’s stock worth $1,178,000 after acquiring an additional 76 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Watts Water Technologies by 30.0% during the second quarter. Fifth Third Bancorp now owns 338 shares of the technology company’s stock worth $62,000 after purchasing an additional 78 shares during the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

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.