Groupama Asset Managment Sells 32,956 Shares of Watts Water Technologies, Inc. $WTS

Groupama Asset Managment cut its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 33.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,740 shares of the technology company’s stock after selling 32,956 shares during the period. Groupama Asset Managment owned about 0.20% of Watts Water Technologies worth $18,639,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Wexford Capital LP bought a new position in shares of Watts Water Technologies during the third quarter valued at $26,000. Advisory Services Network LLC bought a new stake in shares of Watts Water Technologies in the 3rd quarter worth about $29,000. Stance Capital LLC acquired a new stake in shares of Watts Water Technologies during the 3rd quarter worth about $62,000. GAMMA Investing LLC lifted its holdings in Watts Water Technologies by 31.6% during the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after purchasing an additional 62 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Watts Water Technologies by 144.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 291 shares of the technology company’s stock valued at $81,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 7,500 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the transaction, the insider directly owned 7,500 shares in the company, valued at approximately $2,475,300. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of Watts Water Technologies stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the sale, the general counsel owned 12,284 shares of the company’s stock, valued at approximately $3,944,146.72. This represents a 29.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 29,302 shares of company stock valued at $9,561,165. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WTS. The Goldman Sachs Group upped their price objective on shares of Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Barclays boosted their target price on Watts Water Technologies from $300.00 to $323.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $339.00 price target on shares of Watts Water Technologies in a research report on Friday, February 13th. Jefferies Financial Group started coverage on Watts Water Technologies in a research report on Friday, December 12th. They issued a “hold” rating and a $300.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Watts Water Technologies currently has a consensus rating of “Hold” and an average price target of $334.11.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock opened at $296.66 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49. The firm has a 50 day simple moving average of $309.30 and a 200 day simple moving average of $288.30. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $345.17. The firm has a market cap of $9.89 billion, a P/E ratio of 29.17, a P/E/G ratio of 2.74 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.26. The firm had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 EPS. Sell-side 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 monthly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $0.52 dividend. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a yield of 2.1%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 20.45%.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.