Watts Water Technologies, Inc. $WTS Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB cut its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 74,667 shares of the technology company’s stock after selling 1,758 shares during the period. E. Ohman J or Asset Management AB’s holdings in Watts Water Technologies were worth $26,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in shares of Watts Water Technologies by 769.2% in the second quarter. NewEdge Advisors LLC now owns 113 shares of the technology company’s stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. Assetmark Inc. raised its stake in Watts Water Technologies by 211.3% in the 1st quarter. Assetmark Inc. now owns 165 shares of the technology company’s stock worth $48,000 after purchasing an additional 112 shares in the last quarter. Costello Asset Management INC boosted its holdings in Watts Water Technologies by 900.0% in the 1st quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $87,000 after purchasing an additional 270 shares during the period. Blue Trust Inc. boosted its holdings in Watts Water Technologies by 352.9% in the 1st quarter. Blue Trust Inc. now owns 317 shares of the technology company’s stock valued at $92,000 after purchasing an additional 247 shares during the period. Finally, Reyes Financial Architecture Inc. boosted its holdings in Watts Water Technologies by 47.1% in the 3rd quarter. Reyes Financial Architecture Inc. now owns 409 shares of the technology company’s stock valued at $145,000 after purchasing an additional 131 shares during the period. 95.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Elie Melhem sold 1,096 shares of the stock in a transaction that occurred 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 approximately $2,828,579.85. This trade represents a 12.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total transaction of $1,291,078.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

Watts Water Technologies Trading Down 1.9%

WTS opened at $356.37 on Friday. Watts Water Technologies, Inc. has a twelve month low of $260.00 and a twelve month high of $394.54. The company has a 50-day simple moving average of $360.05 and a 200 day simple moving average of $339.98. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 3.53 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 earnings per share (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 firm had revenue of $763.20 million for the quarter, compared to the consensus estimate of $725.99 million. During the same period in the prior year, the company posted $3.09 earnings per share. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. Analysts predict that Watts Water Technologies, Inc. will post 12.87 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 1st. Watts Water Technologies’s dividend payout ratio is 22.01%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WTS. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $374.00 target price on shares of Watts Water Technologies in a report on Friday, August 7th. Weiss Ratings upgraded Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. Wall Street Zen downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. TD Cowen increased their price target on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, Barclays raised their price objective on Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $371.90.

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.