Mirova US LLC Sells 276,506 Shares of Watts Water Technologies, Inc. $WTS

Mirova US LLC lowered its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 36.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 471,822 shares of the technology company’s stock after selling 276,506 shares during the period. Watts Water Technologies comprises 1.3% of Mirova US LLC’s holdings, making the stock its 26th largest holding. Mirova US LLC owned about 1.41% of Watts Water Technologies worth $131,770,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WTS. MTM Investment Management LLC bought a new position in shares of Watts Water Technologies in the second quarter worth $25,000. Cullen Frost Bankers Inc. increased its stake in Watts Water Technologies by 156.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after acquiring an additional 80 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Watts Water Technologies by 31.6% in the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after acquiring an additional 62 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Watts Water Technologies by 474.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock valued at $83,000 after acquiring an additional 280 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Watts Water Technologies by 138.4% during the third quarter. Farther Finance Advisors LLC now owns 329 shares of the technology company’s stock worth $92,000 after purchasing an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

Shares of WTS stock opened at $282.51 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 2.83 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $275.56 and a 200-day moving average price of $269.48. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $287.89. The firm has a market capitalization of $9.42 billion, a PE ratio of 29.15, a P/E/G ratio of 3.02 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.21. The business had revenue of $611.70 million during the quarter, compared to the consensus estimate of $576.20 million. Watts Water Technologies had a net margin of 13.79% and a return on equity of 18.31%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 EPS. As a group, equities research analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, December 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 21.47%.

Analyst Ratings Changes

Several brokerages have recently commented on WTS. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Watts Water Technologies in a research note on Monday, December 15th. Wall Street Zen lowered Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Jefferies Financial Group initiated coverage on Watts Water Technologies in a research report on Friday, December 12th. They issued a “hold” rating and a $300.00 price objective on the stock. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Barclays raised their price target on Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $279.25.

Insider Transactions at Watts Water Technologies

In other news, CAO Virginia A. Halloran sold 605 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total transaction of $167,451.90. Following the completion of the sale, the chief accounting officer owned 13,412 shares of the company’s stock, valued at $3,712,173.36. This represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Timothy P. Horne sold 6,814 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total transaction of $1,855,588.48. Following the sale, the insider owned 15,000 shares of the company’s stock, valued at $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 15,605 shares of company stock valued at $4,296,387. Corporate insiders own 1.10% of the company’s stock.

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.