Jupiter Asset Management Ltd. Sells 24,093 Shares of Watts Water Technologies, Inc. $WTS

Jupiter Asset Management Ltd. reduced its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 22.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,830 shares of the technology company’s stock after selling 24,093 shares during the period. Jupiter Asset Management Ltd.’s holdings in Watts Water Technologies were worth $23,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WTS. Beacon Harbor Wealth Advisors Inc. bought a new stake in Watts Water Technologies during the third quarter valued at $6,444,000. Allianz Asset Management GmbH increased its stake in Watts Water Technologies by 17.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company’s stock worth $50,375,000 after acquiring an additional 27,093 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Watts Water Technologies by 10.9% in the 3rd quarter. AE Wealth Management LLC now owns 138,293 shares of the technology company’s stock valued at $38,622,000 after acquiring an additional 13,642 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Watts Water Technologies during the 2nd quarter valued at about $233,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Watts Water Technologies by 10.5% during the second quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock worth $60,425,000 after purchasing an additional 23,447 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Timothy P. Horne sold 6,814 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total value of $1,855,588.48. Following the transaction, the insider owned 15,000 shares in the company, valued at approximately $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of Watts Water Technologies stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the completion of the transaction, the general counsel directly owned 12,284 shares in the company, valued at approximately $3,944,146.72. The trade was a 29.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,452 shares of company stock valued at $9,151,499 in the last 90 days. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

WTS has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on shares of Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Wells Fargo & Company set a $275.00 price target on shares of Watts Water Technologies in a report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $339.00 price objective on shares of Watts Water Technologies in a report on Friday, February 13th. TD Cowen reissued a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada lifted their price target on Watts Water Technologies from $288.00 to $337.00 and gave the stock a “sector perform” rating in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $334.11.

Watts Water Technologies Price Performance

WTS stock opened at $326.57 on Friday. The firm has a market cap of $10.89 billion, a P/E ratio of 32.11, a P/E/G ratio of 3.00 and a beta of 1.24. The firm’s fifty day moving average is $297.43 and its 200 day moving average is $283.19. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $345.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results 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. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The business had revenue of $625.10 million during the quarter, compared to analyst estimates of $610.40 million. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. 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 monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a yield of 1.9%. Watts Water Technologies’s dividend payout ratio is currently 20.45%.

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.