Mirae Asset Global Investments Co. Ltd. Trims Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,605 shares of the technology company’s stock after selling 154 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Watts Water Technologies were worth $3,043,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale lifted its stake in Watts Water Technologies by 59.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 28,939 shares of the technology company’s stock valued at $5,978,000 after buying an additional 10,741 shares in the last quarter. Allworth Financial LP lifted its stake in Watts Water Technologies by 47.5% in the 4th quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock valued at $36,000 after buying an additional 56 shares in the last quarter. Park Place Capital Corp purchased a new stake in Watts Water Technologies in the 4th quarter valued at approximately $110,000. Boston Trust Walden Corp lifted its stake in Watts Water Technologies by 0.7% in the 4th quarter. Boston Trust Walden Corp now owns 264,438 shares of the technology company’s stock valued at $55,093,000 after buying an additional 1,774 shares in the last quarter. Finally, Quilter Plc lifted its stake in Watts Water Technologies by 1.2% in the 4th quarter. Quilter Plc now owns 20,423 shares of the technology company’s stock valued at $4,293,000 after buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael J. Dubose sold 329 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $197.91, for a total value of $65,112.39. Following the transaction, the director now directly owns 2,392 shares of the company’s stock, valued at approximately $473,400.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Michael J. Dubose sold 329 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $197.91, for a total value of $65,112.39. Following the completion of the sale, the director now directly owns 2,392 shares in the company, valued at approximately $473,400.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Timothy P. Horne sold 764 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $199.00, for a total value of $152,036.00. Following the completion of the sale, the insider now owns 14,236 shares of the company’s stock, valued at $2,832,964. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,113 shares of company stock valued at $1,023,106. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WTS has been the topic of a number of recent research reports. Stifel Nicolaus upped their target price on Watts Water Technologies from $206.00 to $209.00 and gave the company a “hold” rating in a research note on Wednesday. Robert W. Baird increased their price target on Watts Water Technologies from $191.00 to $208.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $191.20.

Watts Water Technologies Trading Down 1.1 %

Shares of Watts Water Technologies stock opened at $198.11 on Thursday. Watts Water Technologies, Inc. has a fifty-two week low of $156.29 and a fifty-two week high of $219.52. The firm has a market cap of $6.60 billion, a PE ratio of 25.33, a P/E/G ratio of 2.94 and a beta of 0.94. The business’s fifty day moving average is $204.36 and its two-hundred day moving average is $196.67. The company has a quick ratio of 1.63, a current ratio of 2.61 and a debt-to-equity ratio of 0.20.

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, topping the consensus estimate of $1.78 by $0.19. The business had revenue of $547.50 million for the quarter, compared to analyst estimates of $532.58 million. Watts Water Technologies had a return on equity of 19.38% and a net margin of 12.75%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $1.60 EPS. Analysts anticipate that Watts Water Technologies, Inc. will post 8.52 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Thursday, February 29th. Watts Water Technologies’s dividend payout ratio (DPR) is currently 18.41%.

About Watts Water Technologies

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.