Alps Advisors Inc. Cuts Stock Holdings in Watts Water Technologies, Inc. $WTS

Alps Advisors Inc. lessened its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 15.8% during the third quarter, Holdings Channel reports. The firm owned 31,746 shares of the technology company’s stock after selling 5,939 shares during the period. Alps Advisors Inc.’s holdings in Watts Water Technologies were worth $8,866,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WTS. Norges Bank purchased a new position in shares of Watts Water Technologies in the 2nd quarter worth $80,386,000. AQR Capital Management LLC raised its holdings in shares of Watts Water Technologies by 148.3% in the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock worth $68,276,000 after purchasing an additional 165,837 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Watts Water Technologies by 2,366.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 153,282 shares of the technology company’s stock valued at $37,691,000 after purchasing an additional 147,068 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Watts Water Technologies by 20.7% during the 2nd quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock worth $197,728,000 after purchasing an additional 138,034 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Watts Water Technologies by 156.2% during the 2nd quarter. Qube Research & Technologies Ltd now owns 86,681 shares of the technology company’s stock worth $21,314,000 after purchasing an additional 52,847 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Trading Up 3.4%

Shares of WTS opened at $319.38 on Monday. Watts Water Technologies, Inc. has a one year low of $177.59 and a one year high of $319.85. The stock has a 50-day moving average price of $287.05 and a 200 day moving average price of $278.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.84 and a current ratio of 2.83. The company has a market capitalization of $10.65 billion, a P/E ratio of 32.96, a P/E/G ratio of 2.97 and a beta of 1.24.

Insider Activity at Watts Water Technologies

In other news, CAO Virginia A. Halloran sold 605 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total transaction of $167,451.90. Following the completion of the transaction, the chief accounting officer directly owned 13,412 shares in the company, valued at approximately $3,712,173.36. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Timothy P. Horne sold 6,994 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $278.65, for a total transaction of $1,948,878.10. Following the sale, the insider directly owned 23,006 shares of the company’s stock, valued at $6,410,621.90. The trade was a 23.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 15,605 shares of company stock valued at $4,296,387. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WTS has been the topic of a number of recent research reports. 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. Jefferies Financial Group began coverage on shares of Watts Water Technologies in a research report on Friday, December 12th. They set a “hold” rating and a $300.00 price target for the company. Royal Bank Of Canada initiated coverage on Watts Water Technologies in a report on Monday, January 5th. They issued a “sector perform” rating and a $288.00 price target for the company. HSBC began coverage on Watts Water Technologies in a research note on Tuesday, January 27th. They set a “buy” rating on the stock. Finally, Barclays increased their target price on Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $288.57.

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.