Vaughan Nelson Investment Management L.P. Trims Stock Position in Watts Water Technologies, Inc. $WTS

Vaughan Nelson Investment Management L.P. trimmed its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 48.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 106,340 shares of the technology company’s stock after selling 98,630 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.32% of Watts Water Technologies worth $29,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AEGON ASSET MANAGEMENT UK Plc increased its stake in Watts Water Technologies by 18.5% during the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 77,892 shares of the technology company’s stock worth $19,164,000 after buying an additional 12,148 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Watts Water Technologies in the second quarter worth $233,000. Jane Street Group LLC grew its stake in shares of Watts Water Technologies by 210.6% in the first quarter. Jane Street Group LLC now owns 57,901 shares of the technology company’s stock worth $11,807,000 after acquiring an additional 39,260 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Watts Water Technologies by 20.8% during the first quarter. Intech Investment Management LLC now owns 14,676 shares of the technology company’s stock worth $2,993,000 after acquiring an additional 2,530 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Watts Water Technologies by 10.5% in the second quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock valued at $60,425,000 after acquiring an additional 23,447 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays boosted their target price on Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. Zacks Research upgraded shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Jefferies Financial Group assumed coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 price target for the company. Finally, Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies presently has an average rating of “Hold” and an average target price of $281.00.

Watts Water Technologies Stock Up 0.9%

WTS stock opened at $283.88 on Wednesday. The stock has a market cap of $9.47 billion, a P/E ratio of 29.30, a PEG ratio of 2.73 and a beta of 1.24. The company has a current ratio of 2.83, a quick ratio of 1.84 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $287.89. The company’s 50 day moving average is $275.61 and its two-hundred day moving average is $271.13.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.21. Watts Water Technologies had a net margin of 13.79% and a return on equity of 18.31%. The business had revenue of $611.70 million during the quarter, compared to analysts’ expectations of $576.20 million. During the same quarter in the prior year, the business posted $2.03 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. Research analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.52 per share. The ex-dividend date was Monday, December 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s payout ratio is 21.47%.

Insider Activity

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 6,814 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $272.32, for a total value of $1,855,588.48. Following the completion of the sale, the insider owned 15,000 shares in the company, valued at approximately $4,084,800. The trade was a 31.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Virginia A. Halloran sold 605 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total value of $167,451.90. Following the completion of the sale, the chief accounting officer directly owned 13,412 shares of the company’s stock, valued at $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,605 shares of company stock valued at $4,296,387 over the last three months. Company insiders own 1.10% 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.