Insider Selling: Watts Water Technologies Inc (WTS) Insider Sells $942,374.40 in Stock
Watts Water Technologies Inc (NYSE:WTS) insider Robert J. Pagano, Jr. sold 11,040 shares of Watts Water Technologies stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $85.36, for a total transaction of $942,374.40. Following the transaction, the insider now owns 116,545 shares of the company’s stock, valued at approximately $9,948,281.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Watts Water Technologies opened at $84.05 on Friday, according to MarketBeat.com. The stock has a market cap of $2.93 billion, a PE ratio of 28.16, a PEG ratio of 1.94 and a beta of 1.05. Watts Water Technologies Inc has a 12 month low of $59.15 and a 12 month high of $93.35. The company has a quick ratio of 1.38, a current ratio of 2.29 and a debt-to-equity ratio of 0.45.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. The business had revenue of $407.90 million during the quarter, compared to the consensus estimate of $403.60 million. Watts Water Technologies had a net margin of 5.83% and a return on equity of 13.88%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. research analysts predict that Watts Water Technologies Inc will post 3.69 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of WTS. Teachers Advisors LLC grew its holdings in shares of Watts Water Technologies by 2.3% during the fourth quarter. Teachers Advisors LLC now owns 65,106 shares of the technology company’s stock worth $4,945,000 after buying an additional 1,443 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Watts Water Technologies during the fourth quarter worth about $996,000. Xact Kapitalforvaltning AB purchased a new stake in Watts Water Technologies in the fourth quarter valued at approximately $224,000. Wells Fargo & Company MN grew its holdings in Watts Water Technologies by 80.2% in the first quarter. Wells Fargo & Company MN now owns 90,322 shares of the technology company’s stock valued at $7,018,000 after purchasing an additional 40,205 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in Watts Water Technologies in the first quarter valued at approximately $203,000. Institutional investors and hedge funds own 76.34% of the company’s stock.
A number of brokerages have issued reports on WTS. Zacks Investment Research upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Friday, April 20th. Northcoast Research restated a “buy” rating and set a $105.00 target price on shares of Watts Water Technologies in a research report on Friday, August 3rd. Stifel Nicolaus lifted their target price on shares of Watts Water Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Boenning Scattergood restated a “neutral” rating on shares of Watts Water Technologies in a research report on Thursday, August 2nd. Finally, ValuEngine upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Watts Water Technologies has an average rating of “Hold” and an average target price of $85.33.
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. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
Read More: Google Finance Portfolio Tips and Tricks
Receive News & Ratings for Watts Water Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watts Water Technologies and related companies with MarketBeat.com's FREE daily email newsletter.