Groupama Asset Managment Sells 32,956 Shares of Watts Water Technologies, Inc. $WTS

Groupama Asset Managment reduced its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 33.1% during the 3rd quarter, Holdings Channel reports. The firm owned 66,740 shares of the technology company’s stock after selling 32,956 shares during the period. Groupama Asset Managment’s holdings in Watts Water Technologies were worth $18,639,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Wexford Capital LP acquired a new position in Watts Water Technologies in the third quarter valued at about $26,000. Advisory Services Network LLC acquired a new position in shares of Watts Water Technologies during the 3rd quarter worth about $29,000. Stance Capital LLC bought a new stake in shares of Watts Water Technologies in the 3rd quarter valued at about $62,000. GAMMA Investing LLC raised its position in shares of Watts Water Technologies by 31.6% in the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after acquiring an additional 62 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Watts Water Technologies by 144.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 291 shares of the technology company’s stock worth $81,000 after acquiring an additional 172 shares during the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Elie Melhem sold 379 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $300.03, for a total transaction of $113,711.37. Following the completion of the transaction, the insider directly owned 11,592 shares in the company, valued at approximately $3,477,947.76. The trade was a 3.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total value of $1,613,427.00. Following the transaction, the general counsel directly owned 12,284 shares in the company, valued at $3,944,146.72. The trade was a 29.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,302 shares of company stock valued at $9,561,165. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 target price for the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $339.00 price target on shares of Watts Water Technologies in a report on Friday, February 13th. Barclays upped their price objective on shares of Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. The Goldman Sachs Group lifted their target price on Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Finally, HSBC started coverage on Watts Water Technologies in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $334.11.

Watts Water Technologies Stock Performance

Shares of WTS opened at $296.66 on Thursday. The firm has a fifty day simple moving average of $309.30 and a 200 day simple moving average of $288.30. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 2.74 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 18.55% and a net margin of 13.98%.The business’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. Research analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

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

Watts Water Technologies Company 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.