Legal & General Group Plc Sells 8,040 Shares of Watts Water Technologies, Inc. $WTS

Legal & General Group Plc reduced its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 6.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 110,812 shares of the technology company’s stock after selling 8,040 shares during the quarter. Legal & General Group Plc’s holdings in Watts Water Technologies were worth $30,586,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wexford Capital LP purchased a new stake in Watts Water Technologies during the 3rd quarter valued at about $26,000. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies in the 3rd quarter worth approximately $29,000. Stance Capital LLC purchased a new position in shares of Watts Water Technologies in the 3rd quarter valued at approximately $62,000. Allworth Financial LP lifted its stake in shares of Watts Water Technologies by 29.7% in the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Watts Water Technologies by 144.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 291 shares of the technology company’s stock valued at $81,000 after purchasing an additional 172 shares during the period. 95.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stifel Nicolaus set a $379.00 price objective on Watts Water Technologies in a research note on Friday, May 8th. The Goldman Sachs Group lifted their price objective on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Royal Bank Of Canada lifted their price objective on Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $358.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. Finally, Wall Street Zen cut Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $329.44.

Insiders Place Their Bets

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the sale, the insider owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the sale, the director directly owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. The trade was a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,738 shares of company stock valued at $1,125,138. Corporate insiders own 1.00% of the company’s stock.

Watts Water Technologies Stock Down 0.8%

Watts Water Technologies stock opened at $308.62 on Friday. The firm has a market cap of $10.30 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 2.74 and a beta of 1.20. The stock has a fifty day simple moving average of $298.47 and a two-hundred day simple moving average of $295.57. Watts Water Technologies, Inc. has a 12 month low of $237.15 and a 12 month high of $345.17. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. The business had revenue of $677.30 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.37 EPS. Equities analysts predict 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 will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 19.03%.

Watts Water Technologies 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.