Boston Trust Walden Corp Sells 58,692 Shares of Watts Water Technologies, Inc. $WTS

Boston Trust Walden Corp lowered its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 13.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 379,024 shares of the technology company’s stock after selling 58,692 shares during the period. Watts Water Technologies makes up about 0.9% of Boston Trust Walden Corp’s holdings, making the stock its 16th biggest position. Boston Trust Walden Corp owned about 1.14% of Watts Water Technologies worth $110,027,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WTS. Wexford Capital LP purchased a new stake in shares of Watts Water Technologies in the third quarter worth about $26,000. Acumen Wealth Advisors LLC bought a new stake in Watts Water Technologies during the 4th quarter worth approximately $28,000. Clearstead Advisors LLC increased its holdings in Watts Water Technologies by 69.4% during the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after acquiring an additional 43 shares during the period. Advisory Services Network LLC purchased a new stake in Watts Water Technologies in the 3rd quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. bought a new position in Watts Water Technologies in the 4th quarter valued at $29,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Trading Down 3.3%

NYSE WTS opened at $368.69 on Friday. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. The stock’s 50-day simple moving average is $319.35 and its two-hundred day simple moving average is $306.97. Watts Water Technologies, Inc. has a twelve month low of $242.77 and a twelve month high of $394.54. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 3.38 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. The firm had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.37 EPS. Research analysts forecast that Watts Water Technologies, Inc. will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 23.06%.

Insider Buying and Selling at Watts Water Technologies

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WTS shares. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $358.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Royal Bank Of Canada raised their price target on Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, Stifel Nicolaus set a $379.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $338.20.

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.