Watts Water Technologies, Inc. (NYSE:WTS) Stake Reduced by Stifel Financial Corp

Stifel Financial Corp trimmed its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 1.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,813 shares of the technology company’s stock after selling 461 shares during the quarter. Stifel Financial Corp owned approximately 0.12% of Watts Water Technologies worth $8,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WTS. HWG Holdings LP acquired a new position in Watts Water Technologies in the second quarter worth approximately $28,000. V Square Quantitative Management LLC bought a new stake in Watts Water Technologies during the 3rd quarter worth approximately $30,000. Gradient Investments LLC acquired a new stake in shares of Watts Water Technologies in the second quarter valued at $31,000. Blue Trust Inc. grew its stake in shares of Watts Water Technologies by 520.5% during the second quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock valued at $50,000 after purchasing an additional 229 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Watts Water Technologies by 30.0% in the 2nd quarter. Fifth Third Bancorp now owns 338 shares of the technology company’s stock valued at $62,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

Insider Activity

In related news, CEO Robert J. Pagano, Jr. sold 20,810 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $212.20, for a total transaction of $4,415,882.00. Following the sale, the chief executive officer now owns 176,045 shares in the company, valued at approximately $37,356,749. This trade represents a 10.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Shashank Patel sold 4,569 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $209.10, for a total transaction of $955,377.90. Following the transaction, the chief financial officer now owns 15,635 shares of the company’s stock, valued at approximately $3,269,278.50. This represents a 22.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,974 shares of company stock worth $6,924,594. 1.10% of the stock is currently owned by company insiders.

Watts Water Technologies Stock Down 0.4 %

WTS stock opened at $220.52 on Friday. The business’s fifty day moving average price is $207.82 and its two-hundred day moving average price is $197.98. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 3.14 and a beta of 0.92. Watts Water Technologies, Inc. has a fifty-two week low of $175.37 and a fifty-two week high of $222.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. The business had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.83 million. During the same quarter in the previous year, the company earned $2.04 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Watts Water Technologies, Inc. will post 8.75 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 0.78%. Watts Water Technologies’s dividend payout ratio is presently 20.62%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WTS shares. Stifel Nicolaus upped their price target on Watts Water Technologies from $202.00 to $218.00 and gave the company a “hold” rating in a research note on Wednesday. StockNews.com upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Monday, November 4th.

About Watts Water Technologies

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.