ProShare Advisors LLC Has $7.83 Million Stake in Watts Water Technologies, Inc. $WTS

ProShare Advisors LLC reduced its stake in shares of Watts Water Technologies, Inc. (NYSE:WTSFree Report) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,047 shares of the technology company’s stock after selling 3,839 shares during the period. ProShare Advisors LLC’s holdings in Watts Water Technologies were worth $7,833,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its position in shares of Watts Water Technologies by 10.2% during the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after acquiring an additional 174 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Watts Water Technologies by 80.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after purchasing an additional 445 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Watts Water Technologies by 8.3% in the 1st 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 during the period. Sivia Capital Partners LLC acquired a new position in shares of Watts Water Technologies in the 2nd quarter worth approximately $219,000. Finally, Truist Financial Corp boosted its stake in shares of Watts Water Technologies by 94.7% in the 2nd quarter. Truist Financial Corp now owns 3,002 shares of the technology company’s stock valued at $738,000 after purchasing an additional 1,460 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Insiders Place Their Bets

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 605 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total transaction of $167,451.90. Following the transaction, the chief accounting officer owned 13,412 shares in the company, valued at approximately $3,712,173.36. This represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Timothy P. Horne sold 6,814 shares of Watts Water Technologies stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total transaction of $1,855,588.48. Following the transaction, the insider owned 15,000 shares of the company’s stock, valued at $4,084,800. This represents a 31.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 8,611 shares of company stock worth $2,347,509. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. HSBC began coverage on Watts Water Technologies in a report on Tuesday, January 27th. They set a “buy” rating for the company. TD Cowen reissued a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Wells Fargo & Company set a $275.00 target price on Watts Water Technologies in a research report on Thursday, January 8th. Finally, Barclays raised 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $300.50.

Check Out Our Latest Report on WTS

Watts Water Technologies Price Performance

WTS stock opened at $314.50 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.83 and a quick ratio of 1.84. The company’s 50-day moving average is $289.64 and its 200-day moving average is $279.88. The stock has a market capitalization of $10.49 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.93 and a beta of 1.24. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $321.87.

Watts Water Technologies (NYSE:WTSGet Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.26. The business had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 EPS. Equities research analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.52 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, February 27th. Watts Water Technologies’s dividend payout ratio is presently 21.47%.

Watts Water Technologies News Roundup

Here are the key news stories impacting Watts Water Technologies this week:

Watts Water Technologies Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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