Manchester Capital Management LLC Lowers Stock Position in Watts Water Technologies, Inc. $WTS

Manchester Capital Management LLC lessened its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 96.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118 shares of the technology company’s stock after selling 3,713 shares during the quarter. Manchester Capital Management LLC’s holdings in Watts Water Technologies were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Clark Capital Management Group Inc. boosted its stake in shares of Watts Water Technologies by 17.4% during the 3rd quarter. Clark Capital Management Group Inc. now owns 27,985 shares of the technology company’s stock worth $7,816,000 after acquiring an additional 4,140 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Watts Water Technologies during the 3rd quarter worth approximately $6,308,000. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Watts Water Technologies by 80.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,978 shares of the technology company’s stock worth $1,949,000 after acquiring an additional 3,101 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Watts Water Technologies by 122.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 54,381 shares of the technology company’s stock worth $15,010,000 after acquiring an additional 29,942 shares in the last quarter. Finally, Cumberland Partners Ltd boosted its stake in shares of Watts Water Technologies by 100.0% during the 4th quarter. Cumberland Partners Ltd now owns 13,000 shares of the technology company’s stock worth $3,588,000 after acquiring an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Trading Down 2.0%

Shares of Watts Water Technologies stock opened at $313.55 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. Watts Water Technologies, Inc. has a 1 year low of $237.72 and a 1 year high of $345.17. The company has a market capitalization of $10.47 billion, a P/E ratio of 28.69, a P/E/G ratio of 2.84 and a beta of 1.19. The business has a 50 day moving average price of $301.93 and a 200 day moving average price of $298.19.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same period in the previous year, the firm posted $2.37 EPS. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. Sell-side analysts anticipate that Watts Water Technologies, Inc. will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, June 1st. Watts Water Technologies’s payout ratio is currently 23.06%.

Analysts Set New Price Targets

Several brokerages have recently commented on WTS. KeyCorp boosted their price target on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Royal Bank Of Canada boosted their price target on Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Stifel Nicolaus set a $379.00 price target on Watts Water Technologies in a research note on Friday, May 8th. The Goldman Sachs Group boosted their price target on Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Finally, Barclays decreased their price target on Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $329.44.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the transaction, the insider directly owned 8,963 shares in the company, 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 at this hyperlink. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies 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 transaction, the director owned 1,814 shares of the company’s stock, valued at $561,668.82. This represents a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,406 shares of company stock valued at $1,024,973 over the last 90 days. Insiders own 1.00% of the company’s stock.

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.