Watts Water Technologies, Inc. (NYSE:WTS) Shares Sold by Mirova US LLC

Mirova US LLC reduced its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 712,787 shares of the technology company’s stock after selling 4,441 shares during the quarter. Watts Water Technologies comprises approximately 2.2% of Mirova US LLC’s portfolio, making the stock its 17th largest holding. Mirova US LLC’s holdings in Watts Water Technologies were worth $148,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of WTS. American Century Companies Inc. raised its stake in Watts Water Technologies by 12.9% during the 1st quarter. American Century Companies Inc. now owns 4,237 shares of the technology company’s stock worth $591,000 after acquiring an additional 483 shares in the last quarter. US Bancorp DE increased its stake in Watts Water Technologies by 41.6% in the first quarter. US Bancorp DE now owns 881 shares of the technology company’s stock valued at $123,000 after purchasing an additional 259 shares during the period. Rhumbline Advisers increased its stake in Watts Water Technologies by 14.8% in the first quarter. Rhumbline Advisers now owns 79,951 shares of the technology company’s stock valued at $11,160,000 after purchasing an additional 10,288 shares during the period. Vontobel Holding Ltd. acquired a new position in Watts Water Technologies in the first quarter valued at $2,395,000. Finally, Lord Abbett & CO. LLC acquired a new position in Watts Water Technologies in the first quarter valued at $14,626,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS traded up $0.62 during midday trading on Wednesday, hitting $200.27. The stock had a trading volume of 87,791 shares, compared to its average volume of 92,381. The company has a market capitalization of $6.67 billion, a PE ratio of 25.62, a P/E/G ratio of 2.93 and a beta of 0.94. The stock has a 50 day moving average price of $204.55 and a two-hundred day moving average price of $196.66. The company has a current ratio of 2.61, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. Watts Water Technologies, Inc. has a 1 year low of $156.29 and a 1 year high of $219.52.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Monday, February 12th. The technology company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.19. The business had revenue of $547.50 million for the quarter, compared to the consensus estimate of $532.58 million. Watts Water Technologies had a net margin of 12.75% and a return on equity of 19.38%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 earnings per share. As a group, equities analysts predict that Watts Water Technologies, Inc. will post 8.52 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Thursday, February 29th. Watts Water Technologies’s dividend payout ratio is currently 18.41%.

Insider Buying and Selling

In related news, insider Elie Melhem sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $199.50, for a total transaction of $498,750.00. Following the sale, the insider now owns 13,564 shares of the company’s stock, valued at $2,706,018. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Elie Melhem sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $199.50, for a total value of $498,750.00. Following the completion of the transaction, the insider now owns 13,564 shares of the company’s stock, valued at $2,706,018. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Virginia A. Halloran sold 1,520 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $202.11, for a total transaction of $307,207.20. Following the completion of the transaction, the chief accounting officer now directly owns 14,818 shares of the company’s stock, valued at approximately $2,994,865.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,113 shares of company stock valued at $1,023,106. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

WTS has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Watts Water Technologies from $191.00 to $208.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Stifel Nicolaus lifted their price objective on shares of Watts Water Technologies from $199.00 to $206.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $190.60.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.