Watts Water Technologies, Inc. (NYSE:WTS) Stock Holdings Lowered by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 61.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,466 shares of the technology company’s stock after selling 6,988 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Watts Water Technologies were worth $908,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WTS. Intech Investment Management LLC bought a new stake in shares of Watts Water Technologies during the 3rd quarter worth $1,068,000. Charles Schwab Investment Management Inc. boosted its position in shares of Watts Water Technologies by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 316,407 shares of the technology company’s stock valued at $65,556,000 after purchasing an additional 9,148 shares during the period. Citigroup Inc. increased its stake in Watts Water Technologies by 157.4% in the 3rd quarter. Citigroup Inc. now owns 25,006 shares of the technology company’s stock worth $5,181,000 after purchasing an additional 15,290 shares in the last quarter. Cerity Partners LLC raised its holdings in Watts Water Technologies by 24.0% during the 3rd quarter. Cerity Partners LLC now owns 12,352 shares of the technology company’s stock worth $2,559,000 after buying an additional 2,390 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Watts Water Technologies by 89.9% during the third quarter. The Manufacturers Life Insurance Company now owns 61,968 shares of the technology company’s stock valued at $12,839,000 after buying an additional 29,332 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analysts Set New Price Targets

WTS has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on shares of Watts Water Technologies from $197.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Stifel Nicolaus boosted their target price on shares of Watts Water Technologies from $218.00 to $219.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Watts Water Technologies in a report on Tuesday, December 17th. They issued a “hold” rating and a $240.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $220.00.

Insider Transactions at Watts Water Technologies

In other news, insider Elie Melhem sold 4,397 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total transaction of $925,700.41. Following the transaction, the insider now owns 10,469 shares in the company, valued at $2,204,038.57. This represents a 29.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Watts Water Technologies Stock Performance

WTS stock opened at $209.73 on Friday. The stock has a market cap of $6.99 billion, a P/E ratio of 24.13, a P/E/G ratio of 3.42 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59. The firm has a 50 day simple moving average of $211.60 and a 200 day simple moving average of $207.82. Watts Water Technologies, Inc. has a 52 week low of $175.37 and a 52 week high of $232.60.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. Research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, February 28th. Watts Water Technologies’s payout ratio is currently 19.79%.

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.