Watts Water Technologies, Inc. $WTS Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB lessened its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 12.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,437 shares of the technology company’s stock after selling 6,781 shares during the quarter. Nordea Investment Management AB owned about 0.14% of Watts Water Technologies worth $12,936,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Wexford Capital LP purchased a new stake in Watts Water Technologies in the third quarter valued at approximately $26,000. Advisory Services Network LLC purchased a new position in shares of Watts Water Technologies during the third quarter worth approximately $29,000. Stance Capital LLC purchased a new position in shares of Watts Water Technologies during the third quarter worth approximately $62,000. Allworth Financial LP increased its holdings in shares of Watts Water Technologies by 29.7% in the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock valued at $71,000 after acquiring an additional 58 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Watts Water Technologies by 31.6% in the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $298.81 on Wednesday. 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 stock has a fifty day moving average price of $309.82 and a 200 day moving average price of $288.83. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $345.17. The company has a market cap of $9.96 billion, a PE ratio of 29.38, a P/E/G ratio of 2.67 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.26. The company had revenue of $625.10 million for the quarter, compared to analysts’ expectations of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. Watts Water Technologies’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. Sell-side analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 2.1%. Watts Water Technologies’s payout ratio is presently 20.45%.

Insider Buying and Selling at Watts Water Technologies

In related news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the completion of the transaction, the chief executive officer directly owned 191,202 shares of the company’s stock, valued at $62,582,326.62. This represents a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Timothy P. Horne sold 7,500 shares of the firm’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 completion of the sale, the insider owned 7,500 shares of the company’s stock, valued at approximately $2,475,300. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,674 shares of company stock valued at $9,669,838. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on WTS. Barclays upped their price target on shares of Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Robert W. Baird set a $361.00 price objective on shares of Watts Water Technologies in a research note on Friday, February 13th. Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $334.11.

Watts Water Technologies Company Profile

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.