2,561 Watts Water Technologies, Inc. $WTS Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC lessened its position in Watts Water Technologies, Inc. (NYSE:WTS) by 44.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,246 shares of the technology company’s stock after selling 2,561 shares during the quarter. Kestra Investment Management LLC’s holdings in Watts Water Technologies were worth $1,150,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Watts Water Technologies by 20,071.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock valued at $40,989,000 after purchasing an additional 140,500 shares during the period. Squarepoint Ops LLC grew its stake in Watts Water Technologies by 8,421.5% in the second quarter. Squarepoint Ops LLC now owns 104,815 shares of the technology company’s stock worth $41,030,000 after purchasing an additional 103,585 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Watts Water Technologies by 79.8% during the 1st quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company’s stock worth $63,525,000 after purchasing an additional 97,115 shares during the period. Renaissance Technologies LLC increased its holdings in Watts Water Technologies by 58.7% during the 1st quarter. Renaissance Technologies LLC now owns 135,140 shares of the technology company’s stock worth $39,230,000 after purchasing an additional 49,960 shares during the period. Finally, First Trust Advisors LP raised its position in Watts Water Technologies by 6.7% during the 1st quarter. First Trust Advisors LP now owns 545,404 shares of the technology company’s stock valued at $158,325,000 after purchasing an additional 34,381 shares in the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $359.04 on Wednesday. The firm has a 50 day moving average of $355.17 and a 200 day moving average of $333.13. The company has a quick ratio of 1.71, a current ratio of 2.80 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 3.49 and a beta of 1.13. Watts Water Technologies, Inc. has a 52 week low of $262.96 and a 52 week high of $394.54.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, November 4th. The technology company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.26. Watts Water Technologies had a return on equity of 19.75% and a net margin of 16.00%. The business had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $692.57 million. During the same quarter last year, the firm earned $2.50 EPS. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, sell-side analysts predict that Watts Water Technologies, Inc. will post 12.87 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, December 1st. Watts Water Technologies’s dividend payout ratio is 18.89%.

Insider Transactions at Watts Water Technologies

In related news, insider Elie Melhem sold 1,096 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $359.55, for a total transaction of $394,066.80. Following the sale, the insider owned 7,867 shares of the company’s stock, valued at $2,828,579.85. This trade represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WTS has been the subject of several research reports. KeyCorp upped their target price on Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Barclays cut their price target on Watts Water Technologies from $425.00 to $424.00 and set an “overweight” rating on the stock in a research note on Friday, November 6th. Robert W. Baird set a $405.00 price objective on Watts Water Technologies in a report on Friday, August 7th. Stifel Nicolaus set a $430.00 price objective on shares of Watts Water Technologies in a research note on Monday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $374.00 target price on shares of Watts Water Technologies in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Watts Water Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $368.30.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc. designs and manufactures products that help control the safety, flow, and quality of water in plumbing, heating, and water-treatment systems. Its products serve residential, commercial, and industrial applications. The company’s offerings include backflow preventers, valves, water pressure regulators, drainage products, water-quality and treatment systems, and controls for heating and hot-water applications. It also provides solutions for water reuse and other water-management needs.