Watts Water Technologies, Inc. $WTS Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB decreased its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,437 shares of the technology company’s stock after selling 6,781 shares during the quarter. Nordea Investment Management AB’s holdings in Watts Water Technologies were worth $12,936,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WTS. Boston Partners boosted its position in shares of Watts Water Technologies by 2.2% during the 3rd quarter. Boston Partners now owns 907,336 shares of the technology company’s stock worth $253,211,000 after purchasing an additional 19,247 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Watts Water Technologies by 0.9% during the 2nd quarter. First Trust Advisors LP now owns 545,724 shares of the technology company’s stock worth $134,188,000 after purchasing an additional 4,689 shares during the period. Invesco Ltd. increased its holdings in shares of Watts Water Technologies by 34.4% in the 3rd quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock valued at $131,124,000 after purchasing an additional 120,090 shares in the last quarter. Norges Bank acquired a new stake in shares of Watts Water Technologies in the second quarter valued at about $80,386,000. Finally, AQR Capital Management LLC lifted its stake in shares of Watts Water Technologies by 17.5% in the third quarter. AQR Capital Management LLC now owns 326,139 shares of the technology company’s stock valued at $90,226,000 after purchasing an additional 48,470 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $298.81 on Wednesday. The firm has a market capitalization of $9.96 billion, a PE ratio of 29.38, a P/E/G ratio of 2.67 and a beta of 1.23. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $345.17. The firm’s 50-day simple moving average is $309.82 and its 200 day simple moving average is $288.83. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.26. The firm had revenue of $625.10 million during the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $2.05 EPS. On average, equities research analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $0.52 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, February 27th. Watts Water Technologies’s dividend payout ratio (DPR) is 20.45%.

Analyst Ratings Changes

WTS has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. KeyCorp boosted their price target on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Jefferies Financial Group assumed coverage on Watts Water Technologies in a report on Friday, December 12th. They issued a “hold” rating and a $300.00 price target on the stock. Finally, Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $334.11.

Insider Activity

In related news, major shareholder Timothy P. Horne sold 7,500 shares of Watts Water Technologies stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the completion of the transaction, the insider directly owned 7,500 shares in the company, valued at $2,475,300. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total value of $5,258,562.46. Following the completion of the sale, the chief executive officer directly owned 191,202 shares in the company, valued at approximately $62,582,326.62. The trade was a 7.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,674 shares of company stock worth $9,669,838. 1.10% of the stock is owned by corporate insiders.

Watts Water Technologies Profile

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.