Watts Water Technologies, Inc. $WTS Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,177 shares of the technology company’s stock after selling 17,564 shares during the quarter. JPMorgan Chase & Co. owned about 0.68% of Watts Water Technologies worth $63,725,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Integrated Wealth Concepts LLC raised its position in Watts Water Technologies by 10.2% in 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 in the last quarter. Jones Financial Companies Lllp boosted its position in shares of 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Watts Water Technologies by 8.3% during 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 during the 2nd quarter worth $219,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Watts Water Technologies by 4.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,243 shares of the technology company’s stock valued at $1,535,000 after purchasing an additional 283 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Weiss Ratings restated a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. Wells Fargo & Company set a $275.00 target price on shares of Watts Water Technologies in a report on Thursday, January 8th. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. Finally, Jefferies Financial Group started coverage on Watts Water Technologies in a report on Friday, December 12th. They issued a “hold” rating and a $300.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $334.11.

Insider Activity

In other Watts Water Technologies news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the sale, the chief executive officer owned 191,202 shares in the company, valued at approximately $62,582,326.62. This represents a 7.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Timothy P. Horne sold 7,500 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $330.04, for a total value of $2,475,300.00. Following the completion of the transaction, the insider directly owned 7,500 shares of the company’s stock, valued at approximately $2,475,300. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,674 shares of company stock worth $9,669,838. 1.00% of the stock is owned by corporate insiders.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $293.92 on Friday. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 2.69 and a beta of 1.23. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $345.17. The company’s 50-day moving average price is $309.45 and its 200 day moving average price is $288.34. 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 (NYSE:WTS) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The firm had revenue of $625.10 million during the quarter, compared to the consensus estimate of $610.40 million. During the same period last year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, research analysts forecast that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.52 per share. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, February 27th. Watts Water Technologies’s payout ratio is currently 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.