VIRGINIA RETIREMENT SYSTEMS ET Al Has $2.15 Million Position in Watts Water Technologies, Inc. $WTS

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 29.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,770 shares of the technology company’s stock after selling 3,320 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Watts Water Technologies were worth $2,145,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WTS. Integrated Wealth Concepts LLC grew its holdings in Watts Water Technologies by 10.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after acquiring an additional 174 shares during the period. Jones Financial Companies Lllp grew its holdings in Watts Water Technologies by 80.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after acquiring an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after acquiring an additional 7,537 shares during the period. Sivia Capital Partners LLC acquired a new stake in Watts Water Technologies during the 2nd quarter worth about $219,000. Finally, Cetera Investment Advisers grew its holdings in Watts Water Technologies by 43.2% during the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock worth $426,000 after acquiring an additional 523 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $327.31, for a total value of $5,258,562.46. Following the transaction, the chief executive officer owned 191,202 shares of the company’s stock, valued at approximately $62,582,326.62. This trade represents a 7.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 332 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $301.70, for a total transaction of $100,164.40. Following the completion of the transaction, the director directly owned 2,212 shares in the company, valued at approximately $667,360.40. The trade was a 13.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 31,931 shares of company stock worth $10,349,195 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $296.06 on Friday. Watts Water Technologies, Inc. has a fifty-two week low of $235.14 and a fifty-two week high of $345.17. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 2.68 and a beta of 1.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The firm’s 50-day simple moving average is $298.35 and its 200 day simple moving average is $293.38.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $638.13 million. During the same quarter last year, the firm earned $2.37 EPS. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, research analysts anticipate that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.52 annualized dividend and a yield of 0.9%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 23.06%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. The Goldman Sachs Group raised their target price on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Finally, KeyCorp raised their target price on Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $329.44.

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.