Watts Water Technologies, Inc. $WTS Stock Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC trimmed its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 65.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,302 shares of the technology company’s stock after selling 4,415 shares during the quarter. Smith Group Asset Management LLC’s holdings in Watts Water Technologies were worth $815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC raised its position in shares of Watts Water Technologies by 48.4% during the third quarter. Signaturefd LLC now owns 429 shares of the technology company’s stock valued at $152,000 after buying an additional 140 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of Watts Water Technologies in the third quarter worth $444,000. Simplicity Wealth LLC bought a new position in shares of Watts Water Technologies during the third quarter worth $363,000. RWC Asset Management LLP boosted its position in shares of Watts Water Technologies by 3.4% during the third quarter. RWC Asset Management LLP now owns 2,309 shares of the technology company’s stock worth $818,000 after acquiring an additional 77 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in shares of Watts Water Technologies by 10.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 1,814 shares of the technology company’s stock worth $642,000 after acquiring an additional 175 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Watts Water Technologies

In related news, insider Elie Melhem sold 1,096 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the sale, the insider owned 7,867 shares in the company, valued at approximately $2,828,579.85. The trade was a 12.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Noonan sold 3,650 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total transaction of $1,291,078.00. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.

Watts Water Technologies Stock Performance

NYSE:WTS opened at $342.81 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. Watts Water Technologies, Inc. has a 1 year low of $260.00 and a 1 year high of $394.54. The stock’s 50 day simple moving average is $358.48 and its two-hundred day simple moving average is $330.45. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 29.94, a PEG ratio of 3.49 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.32. The business had revenue of $763.20 million for the quarter, compared to analysts’ expectations of $725.99 million. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.09 EPS. As a group, equities analysts anticipate that Watts Water Technologies, Inc. will post 12.87 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio (DPR) is 22.01%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WTS. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $417.00 target price on shares of Watts Water Technologies in a research note on Wednesday, October 14th. KeyCorp boosted their price target on shares of Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Stifel Nicolaus set a $445.00 price target on shares of Watts Water Technologies in a research note on Monday, October 19th. The Goldman Sachs Group reissued a “neutral” rating and set a $374.00 price objective on shares of Watts Water Technologies in a report on Friday, August 7th. Finally, Barclays raised their price objective on Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $371.90.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.