Jupiter Asset Management Ltd. Sells 24,093 Shares of Watts Water Technologies, Inc. $WTS

Jupiter Asset Management Ltd. reduced its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 22.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,830 shares of the technology company’s stock after selling 24,093 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.25% of Watts Water Technologies worth $23,412,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Watts Water Technologies in the 3rd quarter worth approximately $6,444,000. Allianz Asset Management GmbH lifted its holdings in Watts Water Technologies by 17.7% during the third quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company’s stock worth $50,375,000 after acquiring an additional 27,093 shares during the period. AE Wealth Management LLC boosted its position in Watts Water Technologies by 10.9% in the third quarter. AE Wealth Management LLC now owns 138,293 shares of the technology company’s stock worth $38,622,000 after purchasing an additional 13,642 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Watts Water Technologies in the 2nd quarter valued at $233,000. Finally, JPMorgan Chase & Co. increased its position in shares of Watts Water Technologies by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock valued at $60,425,000 after purchasing an additional 23,447 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

NYSE WTS opened at $326.57 on Friday. The firm has a market cap of $10.89 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $297.43 and its 200-day moving average is $283.19. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $345.17.

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

Watts Water Technologies Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a dividend of $0.52 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, February 27th. Watts Water Technologies’s payout ratio is presently 20.45%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WTS shares. HSBC started coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They set a “buy” rating for the company. Wall Street Zen raised shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. Zacks Research upgraded shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Stifel Nicolaus upped their price objective on Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Wells Fargo & Company set a $275.00 price objective on Watts Water Technologies in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $334.11.

Insider Buying and Selling

In related news, General Counsel Kenneth Robert Lepage sold 5,025 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the sale, the general counsel owned 12,284 shares of the company’s stock, valued at approximately $3,944,146.72. This represents a 29.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Timothy P. Horne sold 6,814 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $272.32, for a total value of $1,855,588.48. Following the completion of the transaction, the insider owned 15,000 shares of the company’s stock, valued at approximately $4,084,800. This represents a 31.24% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 29,452 shares of company stock valued at $9,151,499. 1.00% of the stock is owned by company 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.