Watts Water Technologies, Inc. $WTS Stock Position Lessened by Intech Investment Management LLC

Intech Investment Management LLC reduced its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 22.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,422 shares of the technology company’s stock after selling 3,254 shares during the quarter. Intech Investment Management LLC’s holdings in Watts Water Technologies were worth $3,190,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of WTS. Integrated Wealth Concepts LLC raised its position in shares of 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 buying an additional 174 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Watts Water Technologies by 80.2% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock valued at $222,000 after acquiring an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Watts Water Technologies by 8.3% during the first 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 purchasing an additional 7,537 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Watts Water Technologies in the second quarter worth approximately $219,000. Finally, Nisa Investment Advisors LLC boosted its stake in Watts Water Technologies by 69.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 517 shares of the technology company’s stock valued at $127,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday, December 29th. The Goldman Sachs Group upped their price target on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Barclays raised their price objective on shares of Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a research 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, HSBC began coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $334.11.

Insider Activity at Watts Water Technologies

In other news, General Counsel Kenneth Robert Lepage sold 5,025 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the transaction, the general counsel directly owned 12,284 shares in the company, valued at $3,944,146.72. The trade was a 29.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Virginia A. Halloran sold 605 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the sale, the chief accounting officer owned 13,412 shares of the company’s stock, valued at approximately $3,712,173.36. This represents a 4.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 29,196 shares of company stock valued at $9,514,741. Insiders own 1.10% of the company’s stock.

Watts Water Technologies Trading Down 0.9%

Shares of NYSE WTS opened at $325.73 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a one year low of $177.59 and a one year high of $345.17. The business has a 50-day moving average price of $303.17 and a two-hundred day moving average price of $285.94. The firm has a market capitalization of $10.86 billion, a PE ratio of 32.03, a PEG ratio of 2.99 and a beta of 1.23.

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, topping analysts’ consensus estimates of $2.36 by $0.26. The business had revenue of $625.10 million during the quarter, compared to analyst estimates of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. As a group, analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. Watts Water Technologies’s dividend payout ratio (DPR) is 20.45%.

About Watts Water Technologies

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.