Vest Financial LLC Acquires 2,601 Shares of Watts Water Technologies, Inc. $WTS

Vest Financial LLC lifted its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 13.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,299 shares of the technology company’s stock after buying an additional 2,601 shares during the period. Vest Financial LLC’s holdings in Watts Water Technologies were worth $6,228,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. AEGON ASSET MANAGEMENT UK Plc grew its holdings in shares of Watts Water Technologies by 18.5% during the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 77,892 shares of the technology company’s stock worth $19,164,000 after purchasing an additional 12,148 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Watts Water Technologies in the 2nd quarter valued at approximately $233,000. JPMorgan Chase & Co. boosted its position in Watts Water Technologies by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock worth $60,425,000 after buying an additional 23,447 shares during the period. Vaughan Nelson Investment Management L.P. bought a new stake in Watts Water Technologies during the 2nd quarter worth approximately $50,400,000. Finally, Allianz Asset Management GmbH grew its holdings in Watts Water Technologies by 2,366.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 153,282 shares of the technology company’s stock worth $37,691,000 after acquiring an additional 147,068 shares during the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company set a $275.00 price target on shares of Watts Water Technologies in a research note on Thursday, January 8th. Barclays raised their target price on Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. 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 target on the stock. Royal Bank Of Canada started coverage on Watts Water Technologies in a research report on Monday, January 5th. They set a “sector perform” rating and a $288.00 price objective for the company. Finally, Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued 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 $288.57.

Watts Water Technologies Stock Up 4.2%

Shares of NYSE:WTS opened at $301.53 on Thursday. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 2.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.83 and a quick ratio of 1.84. The business’s 50-day moving average is $279.52 and its 200-day moving average is $274.25. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $304.42.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.The business had revenue of $611.70 million during the quarter, compared to the consensus estimate of $576.20 million. During the same period in the previous year, the company posted $2.03 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities research analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, December 1st. Watts Water Technologies’s payout ratio is presently 21.47%.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 6,994 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $278.65, for a total value of $1,948,878.10. Following the completion of the sale, the insider directly owned 23,006 shares in the company, valued at approximately $6,410,621.90. This trade represents a 23.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total transaction of $167,451.90. Following the completion of the sale, the chief accounting officer directly owned 13,412 shares of the company’s stock, valued at approximately $3,712,173.36. This trade represents a 4.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 15,605 shares of company stock worth $4,296,387. 1.00% of the stock is owned by insiders.

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.