NewEdge Wealth LLC Sells 1,723 Shares of Watts Water Technologies, Inc. $WTS

NewEdge Wealth LLC decreased its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 11.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,980 shares of the technology company’s stock after selling 1,723 shares during the period. NewEdge Wealth LLC’s holdings in Watts Water Technologies were worth $3,768,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wexford Capital LP bought a new stake in shares of Watts Water Technologies during the third quarter valued at about $26,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Watts Water Technologies in the fourth quarter worth about $28,000. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies in the third quarter valued at approximately $29,000. Clearstead Advisors LLC boosted its position in shares of Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after acquiring an additional 43 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new position in Watts Water Technologies during the fourth quarter valued at approximately $29,000. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Trading Up 0.3%

WTS stock opened at $344.62 on Friday. The company has a market capitalization of $11.51 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 2.97 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. Watts Water Technologies, Inc. has a one year low of $250.63 and a one year high of $394.54. The company’s 50 day moving average price is $335.93 and its two-hundred day moving average price is $314.57.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. During the same quarter in the prior year, the company earned $2.37 EPS. The firm’s revenue was up 21.4% on a year-over-year basis. As a group, analysts predict that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio is presently 23.06%.

Analysts Set New Price Targets

Several analysts have issued reports on WTS shares. Weiss Ratings cut shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. KeyCorp boosted their price target on shares of Watts Water Technologies from $360.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a report on Friday, May 8th. Stifel Nicolaus increased their price objective on Watts Water Technologies from $379.00 to $403.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Royal Bank Of Canada lifted their price objective on Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and a consensus target price of $345.30.

Insider Activity

In other news, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the transaction, the director owned 1,814 shares in the company, valued at approximately $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the sale, the insider directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

About Watts Water Technologies

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.