Keybank National Association OH Decreases Stake in Watts Water Technologies, Inc. $WTS

Keybank National Association OH reduced its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 21.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,759 shares of the technology company’s stock after selling 490 shares during the period. Keybank National Association OH’s holdings in Watts Water Technologies were worth $433,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of WTS. Principal Financial Group Inc. increased its stake in shares of Watts Water Technologies by 1.0% during the first quarter. Principal Financial Group Inc. now owns 78,159 shares of the technology company’s stock valued at $15,938,000 after buying an additional 795 shares during the period. GAMMA Investing LLC increased its stake in shares of Watts Water Technologies by 80.5% during the first quarter. GAMMA Investing LLC now owns 278 shares of the technology company’s stock valued at $57,000 after buying an additional 124 shares during the period. HB Wealth Management LLC purchased a new position in shares of Watts Water Technologies during the first quarter valued at approximately $259,000. GSA Capital Partners LLP purchased a new position in shares of Watts Water Technologies during the first quarter valued at approximately $802,000. Finally, AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of Watts Water Technologies by 18.5% during the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 77,892 shares of the technology company’s stock valued at $19,164,000 after buying an additional 12,148 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Trading Up 1.1%

Watts Water Technologies stock opened at $274.78 on Wednesday. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $278.16 and its two-hundred day simple moving average is $257.08. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $287.89. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 3.27 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, August 6th. The technology company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.68 by $0.41. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The business had revenue of $643.70 million for the quarter, compared to the consensus estimate of $612.15 million. During the same period in the previous year, the company posted $2.46 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, December 1st. Watts Water Technologies’s payout ratio is 22.37%.

Insider Buying and Selling

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following the sale, the director directly owned 1,194 shares of the company’s stock, valued at approximately $327,693.30. The trade was a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

WTS has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on Watts Water Technologies from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Weiss Ratings reissued a “buy (b+)” rating on shares of Watts Water Technologies in a research note on Tuesday, October 14th. Barclays initiated coverage on Watts Water Technologies in a research note on Friday, September 19th. They set an “equal weight” rating and a $287.00 target price on the stock. Zacks Research lowered Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $261.00.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.