Watts Water Technologies, Inc. (NYSE:WTS) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 17.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,810 shares of the technology company’s stock after selling 1,708 shares during the period. Advisors Asset Management Inc.’s holdings in Watts Water Technologies were worth $1,618,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WTS. HWG Holdings LP acquired a new position in shares of Watts Water Technologies in the second quarter worth $28,000. V Square Quantitative Management LLC purchased a new stake in Watts Water Technologies during the 3rd quarter worth about $30,000. Gradient Investments LLC acquired a new stake in Watts Water Technologies in the 2nd quarter valued at about $31,000. Blue Trust Inc. boosted its stake in shares of Watts Water Technologies by 520.5% in the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock valued at $50,000 after buying an additional 229 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of Watts Water Technologies during the first quarter worth about $53,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Performance

NYSE WTS opened at $215.17 on Monday. The business’s 50-day moving average price is $204.72 and its 200 day moving average price is $197.62. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $219.52. The firm has a market cap of $7.17 billion, a P/E ratio of 25.80, a P/E/G ratio of 3.08 and a beta of 0.90. The company has a quick ratio of 1.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. The company had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.83 million. During the same period in the previous year, the company posted $2.04 EPS. Watts Water Technologies’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that Watts Water Technologies, Inc. will post 8.75 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 annualized dividend and a dividend yield of 0.80%. Watts Water Technologies’s payout ratio is currently 20.62%.

Insiders Place Their Bets

In related news, CEO Robert J. Pagano, Jr. sold 20,810 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $212.20, for a total value of $4,415,882.00. Following the sale, the chief executive officer now directly owns 176,045 shares of the company’s stock, valued at approximately $37,356,749. This represents a 10.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 3,429 shares of Watts Water Technologies stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $194.65, for a total transaction of $667,454.85. Following the transaction, the general counsel now owns 14,064 shares of the company’s stock, valued at approximately $2,737,557.60. The trade was a 19.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,974 shares of company stock worth $6,924,594. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Northcoast Research raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Monday, November 4th. Stifel Nicolaus dropped their price objective on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Robert W. Baird dropped their target price on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Watts Water Technologies presently has a consensus rating of “Hold” and an average target price of $200.25.

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.