NewEdge Wealth LLC Decreases Stock Holdings in Watts Water Technologies, Inc. $WTS

NewEdge Wealth LLC reduced its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 11.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,980 shares of the technology company’s stock after selling 1,723 shares during the quarter. NewEdge Wealth LLC’s holdings in Watts Water Technologies were worth $3,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Watts Water Technologies in the fourth quarter valued at about $100,627,000. AQR Capital Management LLC boosted its holdings in shares of Watts Water Technologies by 148.3% during the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock worth $68,276,000 after purchasing an additional 165,837 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake 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 worth $40,989,000 after purchasing an additional 140,500 shares during the last quarter. UBS Group AG grew its stake in shares of Watts Water Technologies by 223.0% in the third quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after purchasing an additional 139,637 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Watts Water Technologies by 79.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company’s stock valued at $78,067,000 after purchasing an additional 125,218 shares during the period. Institutional investors own 95.02% of the company’s stock.

Insider Activity at Watts Water Technologies

In other news, insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the sale, the insider directly owned 8,963 shares of the company’s stock, valued at $2,697,863. The trade was a 20.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the sale, the director directly owned 1,814 shares in the company, valued at approximately $561,668.82. This represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WTS shares. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. KeyCorp boosted their target price on Watts Water Technologies from $360.00 to $380.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Royal Bank Of Canada upped their target price on Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $345.30.

Watts Water Technologies Stock Up 0.3%

Shares of Watts Water Technologies stock opened at $344.62 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The company has a 50-day moving average of $335.93 and a 200 day moving average of $314.57. The firm has a market cap of $11.51 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 2.97 and a beta of 1.14. Watts Water Technologies, Inc. has a 1 year low of $250.63 and a 1 year high of $394.54.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. During the same period last year, the company posted $2.37 EPS. Watts Water Technologies’s revenue was up 21.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 23.06%.

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.