Fideuram Intesa Sanpaolo Private Banking S.P.A. Lowers Stake in Watts Water Technologies, Inc. $WTS

Fideuram Intesa Sanpaolo Private Banking S.P.A. lowered its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,051 shares of the technology company’s stock after selling 2,288 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Watts Water Technologies were worth $2,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WTS. Integrated Wealth Concepts LLC boosted its holdings in Watts Water Technologies by 10.2% in the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after acquiring an additional 174 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Watts Water Technologies by 80.2% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock valued at $222,000 after acquiring an additional 445 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Watts Water Technologies by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after purchasing an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Watts Water Technologies in the 2nd quarter worth about $219,000. Finally, Cetera Investment Advisers boosted its stake in Watts Water Technologies by 43.2% in the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock worth $426,000 after purchasing an additional 523 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Robert W. Baird set a $330.00 price objective on shares of Watts Water Technologies in a research report on Friday, May 8th. Barclays raised shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $317.00 to $414.00 in a report on Tuesday. Royal Bank Of Canada upped their target price on shares of Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. TD Cowen increased their price target on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a report on Thursday. Finally, Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Watts Water Technologies presently has a consensus rating of “Hold” and an average price target of $338.20.

Insiders Place Their Bets

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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. This trade represents a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Watts Water Technologies Price Performance

NYSE WTS opened at $368.69 on Friday. Watts Water Technologies, Inc. has a one year low of $242.77 and a one year high of $394.54. The stock has a 50-day moving average of $320.71 and a 200 day moving average of $307.40. 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 company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 3.24 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating 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 net margin of 14.32% and a return on equity of 18.92%. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.37 EPS. On average, sell-side analysts forecast that Watts Water Technologies, Inc. will post 12.03 EPS for the current year.

Watts Water Technologies Announces Dividend

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

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.