Watts Water Technologies, Inc. $WTS Shares Sold by Kestra Investment Management LLC

Kestra Investment Management LLC cut its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 44.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,246 shares of the technology company’s stock after selling 2,561 shares during the period. Kestra Investment Management LLC’s holdings in Watts Water Technologies were worth $1,150,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WTS. Tidal Investments LLC grew its stake in Watts Water Technologies by 18.7% during the 2nd quarter. Tidal Investments LLC now owns 30,668 shares of the technology company’s stock worth $12,005,000 after buying an additional 4,832 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Watts Water Technologies during the 3rd quarter valued at about $1,576,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Watts Water Technologies during the 2nd quarter valued at about $3,496,000. Lazard Asset Management LLC raised its stake in Watts Water Technologies by 79.8% in the first quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company’s stock valued at $63,525,000 after buying an additional 97,115 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Watts Water Technologies by 1,808.0% in the first quarter. Empowered Funds LLC now owns 27,876 shares of the technology company’s stock valued at $8,092,000 after buying an additional 26,415 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Trading Down 0.2%

NYSE:WTS opened at $359.04 on Wednesday. The company has a market capitalization of $11.98 billion, a P/E ratio of 26.91, a PEG ratio of 3.49 and a beta of 1.13. The company has a current ratio of 2.80, a quick ratio of 1.71 and a debt-to-equity ratio of 0.04. Watts Water Technologies, Inc. has a 12 month low of $262.96 and a 12 month high of $394.54. The firm has a fifty day simple moving average of $355.17 and a 200-day simple moving average of $333.13.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, November 4th. The technology company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.26. The firm had revenue of $728.00 million for the quarter, compared to the consensus estimate of $692.57 million. Watts Water Technologies had a return on equity of 19.75% and a net margin of 16.00%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 EPS. On average, equities research analysts anticipate that Watts Water Technologies, Inc. will post 12.87 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, December 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 currently 18.89%.

Insider Transactions at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elie Melhem sold 1,096 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the completion of the sale, the insider owned 7,867 shares in the company, valued at approximately $2,828,579.85. This represents a 12.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. KeyCorp raised their price target on Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Barclays cut their price objective on shares of Watts Water Technologies from $425.00 to $424.00 and set an “overweight” rating on the stock in a report on Friday, November 6th. The Goldman Sachs Group restated a “neutral” rating and set a $374.00 price objective on shares of Watts Water Technologies in a report on Friday, August 7th. Wall Street Zen raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Robert W. Baird set a $405.00 target price on shares of Watts Water Technologies in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $368.30.

Watts Water Technologies Profile

Watts Water Technologies, Inc. designs and manufactures products that help control the safety, flow, and quality of water in plumbing, heating, and water-treatment systems. Its products serve residential, commercial, and industrial applications. The company’s offerings include backflow preventers, valves, water pressure regulators, drainage products, water-quality and treatment systems, and controls for heating and hot-water applications. It also provides solutions for water reuse and other water-management needs.