Watts Water Technologies, Inc. $WTS Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC lowered its position in Watts Water Technologies, Inc. (NYSE:WTS) by 34.8% during the third quarter, HoldingsChannel.com reports. The fund owned 3,179 shares of the technology company’s stock after selling 1,699 shares during the quarter. Curated Wealth Partners LLC’s holdings in Watts Water Technologies were worth $1,126,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC raised its holdings in Watts Water Technologies by 769.2% during the second quarter. NewEdge Advisors LLC now owns 113 shares of the technology company’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Assetmark Inc. boosted its position in Watts Water Technologies by 211.3% during the first quarter. Assetmark Inc. now owns 165 shares of the technology company’s stock worth $48,000 after purchasing an additional 112 shares in the last quarter. Costello Asset Management INC grew its holdings in Watts Water Technologies by 900.0% in the first quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $87,000 after purchasing an additional 270 shares during the last quarter. Blue Trust Inc. grew its holdings in Watts Water Technologies by 352.9% in the first quarter. Blue Trust Inc. now owns 317 shares of the technology company’s stock valued at $92,000 after purchasing an additional 247 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Watts Water Technologies by 11.4% in the second quarter. GAMMA Investing LLC now owns 478 shares of the technology company’s stock valued at $187,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Insider Activity

In other Watts Water Technologies news, insider Elie Melhem sold 1,096 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $359.55, for a total transaction of $394,066.80. Following the sale, the insider directly owned 7,867 shares of the company’s stock, valued at $2,828,579.85. This trade represents a 12.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph T. Noonan sold 3,650 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WTS has been the subject of several research reports. Robert W. Baird set a $405.00 price target on Watts Water Technologies in a research note on Friday, August 7th. KeyCorp boosted their price objective on shares of Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Stifel Nicolaus raised their target price on shares of Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $374.00 target price on shares of Watts Water Technologies in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $367.70.

Watts Water Technologies Price Performance

NYSE:WTS traded up $0.30 during trading hours on Thursday, reaching $352.40. 74,871 shares of the company traded hands, compared to its average volume of 259,343. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. The firm’s 50-day moving average is $363.31 and its 200-day moving average is $337.06. The stock has a market cap of $11.76 billion, a P/E ratio of 30.78, a P/E/G ratio of 3.41 and a beta of 1.15. Watts Water Technologies, Inc. has a 1-year low of $260.00 and a 1-year high of $394.54.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%. The company had revenue of $763.20 million during the quarter, compared to analysts’ expectations of $725.99 million. During the same period in the previous year, the firm posted $3.09 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. Equities research analysts expect that Watts Water Technologies, Inc. will post 12.87 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies’s payout ratio is presently 22.01%.

Watts Water Technologies Profile

Watts Water Technologies, Inc designs and manufactures products that help manage the safety, efficiency, and quality of water in residential, commercial, institutional, and industrial systems. Its offerings are used in plumbing, heating, water distribution, and drainage applications.

The company’s product portfolio includes backflow prevention devices, pressure regulators, safety and relief valves, water quality and conditioning equipment, leak detection products, drainage systems, and hydronic and HVAC components.