Watts Water Technologies, Inc. $WTS Shares Sold by Manchester Capital Management LLC

Manchester Capital Management LLC cut its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 96.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 118 shares of the technology company’s stock after selling 3,713 shares during the period. Manchester Capital Management LLC’s holdings in Watts Water Technologies were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. EULAV Asset Management raised its holdings in Watts Water Technologies by 15.7% in the 4th quarter. EULAV Asset Management now owns 114,656 shares of the technology company’s stock valued at $31,647,000 after acquiring an additional 15,596 shares during the last quarter. Parallel Advisors LLC raised its holdings in Watts Water Technologies by 47.4% in the 4th quarter. Parallel Advisors LLC now owns 392 shares of the technology company’s stock valued at $108,000 after acquiring an additional 126 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Watts Water Technologies in the 4th quarter valued at $193,000. Harvest Fund Management Co. Ltd raised its holdings in Watts Water Technologies by 100.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,032 shares of the technology company’s stock valued at $286,000 after acquiring an additional 516 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new position in Watts Water Technologies in the 4th quarter valued at $409,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Down 2.0%

Shares of NYSE WTS opened at $313.55 on Thursday. Watts Water Technologies, Inc. has a 52-week low of $237.72 and a 52-week high of $345.17. The firm has a fifty day moving average of $301.93 and a 200-day moving average of $298.19. The stock has a market capitalization of $10.47 billion, a PE ratio of 28.69, a P/E/G ratio of 2.84 and a beta of 1.19. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data 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. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. During the same period in the previous year, the company earned $2.37 EPS. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. On average, analysts anticipate that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Watts Water Technologies’s dividend payout ratio is 23.06%.

Insiders Place Their Bets

In related news, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the sale, the insider directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction 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 sale, the director directly owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,406 shares of company stock valued at $1,024,973. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on WTS shares. Barclays lowered their price objective on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Weiss Ratings cut shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. KeyCorp boosted their price objective on shares of Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reissued 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, Royal Bank Of Canada boosted their price objective on shares of 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. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Watts Water Technologies presently has a consensus rating of “Hold” and a consensus target price of $329.44.

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.