Fideuram Intesa Sanpaolo Private Banking S.P.A. Trims Stock Holdings in Watts Water Technologies, Inc. $WTS

Fideuram Intesa Sanpaolo Private Banking S.P.A. lowered its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 22.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,051 shares of the technology company’s stock after selling 2,288 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Watts Water Technologies were worth $2,337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in WTS. Wexford Capital LP purchased a new position in shares of Watts Water Technologies during the 3rd quarter valued at $26,000. Acumen Wealth Advisors LLC purchased a new stake in Watts Water Technologies in the 4th quarter worth $28,000. Advisory Services Network LLC purchased a new stake in Watts Water Technologies in the 3rd quarter worth $29,000. Clearstead Advisors LLC raised its holdings in Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after acquiring an additional 43 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new stake in Watts Water Technologies during the fourth quarter valued at about $29,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $368.69 on Friday. Watts Water Technologies, Inc. has a twelve month low of $242.77 and a twelve month high of $394.54. The company’s 50 day moving average is $320.71 and its 200 day moving average is $307.40. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The company has a market cap of $12.31 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 3.24 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. During the same quarter in the prior year, the business earned $2.37 earnings per share. The company’s revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts forecast that Watts Water Technologies, Inc. will post 12.03 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio is 23.06%.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the transaction, the director directly owned 1,814 shares of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the sale, the insider directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays raised Watts Water Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $317.00 to $414.00 in a report on Tuesday. Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $358.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a report on Friday, May 8th. Finally, Stifel Nicolaus set a $379.00 price objective on Watts Water Technologies in a report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $338.20.

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.