Assenagon Asset Management S.A. Sells 31,179 Shares of Watts Water Technologies, Inc. $WTS

Assenagon Asset Management S.A. decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 57.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 23,202 shares of the technology company’s stock after selling 31,179 shares during the period. Assenagon Asset Management S.A.’s holdings in Watts Water Technologies were worth $6,735,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wexford Capital LP purchased a new stake in Watts Water Technologies during the 3rd quarter valued at $26,000. Acumen Wealth Advisors LLC purchased a new position in shares of Watts Water Technologies in the fourth quarter worth $28,000. Clearstead Advisors LLC lifted its holdings in shares of Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies during the third quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Watts Water Technologies during the fourth quarter valued at $29,000. Institutional investors own 95.02% of the company’s stock.

Insider Buying and Selling

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

Watts Water Technologies Stock Down 0.1%

Watts Water Technologies stock opened at $358.99 on Monday. Watts Water Technologies, Inc. has a one year low of $242.77 and a one year high of $375.89. The stock has a fifty day moving average of $313.19 and a 200 day moving average of $304.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The stock has a market cap of $11.99 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.19.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.32. The business had revenue of $677.30 million for 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 business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the firm posted $2.37 earnings per share. As a group, sell-side analysts predict that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $358.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a report on Friday, May 8th. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Weiss Ratings lowered shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada increased their price objective on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and an average target price of $329.44.

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.