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

Smith Group Asset Management LLC lessened its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 65.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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.

A number of other institutional investors also recently bought and sold shares of the company. Signaturefd LLC lifted its stake in shares of Watts Water Technologies by 48.4% in the 3rd quarter. Signaturefd LLC now owns 429 shares of the technology company’s stock worth $152,000 after purchasing an additional 140 shares during the period. Citizens Financial Group Inc. RI bought a new stake in Watts Water Technologies during the third quarter valued at approximately $444,000. Simplicity Wealth LLC bought a new stake in Watts Water Technologies during the third quarter valued at approximately $363,000. RWC Asset Management LLP grew its position in 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 valued at $818,000 after buying an additional 77 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its holdings in 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 valued at $642,000 after buying an additional 175 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. The Goldman Sachs Group reissued a “neutral” rating and set a $374.00 price objective on shares of Watts Water Technologies in a research report on Friday, August 7th. Robert W. Baird set a $405.00 price objective on Watts Water Technologies in a research note on Friday, August 7th. KeyCorp raised their target price on Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $417.00 target price on shares of Watts Water Technologies in a report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $371.90.

Watts Water Technologies Trading Down 5.1%

Shares of NYSE:WTS opened at $342.81 on Thursday. The stock has a 50 day moving average of $358.48 and a 200 day moving average of $330.45. The company has a market cap of $11.44 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 3.49 and a beta of 1.15. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. Watts Water Technologies, Inc. has a 12-month low of $260.00 and a 12-month high of $394.54.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The company had revenue of $763.20 million for the quarter, compared to analysts’ expectations of $725.99 million. During the same quarter last year, the business earned $3.09 EPS. The firm’s revenue was up 18.6% compared to the same quarter last year. As a group, equities research analysts expect that Watts Water Technologies, Inc. will post 12.87 EPS for the current year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid 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 is 22.01%.

Insiders Place Their Bets

In other news, Director Joseph Noonan sold 3,650 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Elie Melhem sold 1,096 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total transaction of $394,066.80. Following the sale, the insider owned 7,867 shares in the company, valued at $2,828,579.85. The trade was a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

Watts Water Technologies 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.