Handelsbanken Fonder AB Sells 4,651 Shares of Watts Water Technologies, Inc. $WTS

Handelsbanken Fonder AB trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 9.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 44,654 shares of the technology company’s stock after selling 4,651 shares during the period. Handelsbanken Fonder AB’s holdings in Watts Water Technologies were worth $17,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC purchased a new position in Watts Water Technologies in the fourth quarter valued at about $2,848,000. Cumberland Partners Ltd increased its stake in shares of Watts Water Technologies by 100.0% in the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 6,500 shares in the last quarter. AE Wealth Management LLC raised its position in shares of Watts Water Technologies by 23.8% in the fourth quarter. AE Wealth Management LLC now owns 171,194 shares of the technology company’s stock valued at $47,253,000 after purchasing an additional 32,901 shares during the period. Mach 1 Financial Group LLC purchased a new stake in shares of Watts Water Technologies during the 4th quarter valued at approximately $1,950,000. Finally, Candriam S.C.A. boosted its holdings in Watts Water Technologies by 26.6% in the 1st quarter. Candriam S.C.A. now owns 34,579 shares of the technology company’s stock worth $10,038,000 after buying an additional 7,256 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $387.18 on Thursday. The firm has a market capitalization of $12.93 billion, a P/E ratio of 33.81, a P/E/G ratio of 3.17 and a beta of 1.15. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $350.68 and its two-hundred day simple moving average is $321.30. Watts Water Technologies, Inc. has a twelve month low of $260.00 and a twelve month high of $394.54.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.32. The firm had revenue of $763.10 million during the quarter, compared to the consensus estimate of $725.99 million. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the company posted $3.09 EPS. As a group, equities analysts anticipate that Watts Water Technologies, Inc. will post 12.81 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Watts Water Technologies’s dividend payout ratio (DPR) is currently 22.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Watts Water Technologies from $350.00 to $417.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $374.00 price objective on shares of Watts Water Technologies in a research note on Friday, August 7th. Robert W. Baird set a $405.00 target price on Watts Water Technologies in a research note on Friday, August 7th. Stifel Nicolaus upped their price target on Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Finally, Barclays raised their price objective on shares of Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Watts Water Technologies presently has a consensus rating of “Hold” and a consensus price target of $367.70.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

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.