JPMorgan Chase & Co. Sells 17,564 Shares of Watts Water Technologies, Inc. $WTS

JPMorgan Chase & Co. cut its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 228,177 shares of the technology company’s stock after selling 17,564 shares during the period. JPMorgan Chase & Co. owned 0.68% of Watts Water Technologies worth $63,725,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in Watts Water Technologies by 20.7% in the 2nd quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock worth $197,728,000 after purchasing an additional 138,034 shares during the period. First Trust Advisors LP increased its position in Watts Water Technologies by 0.9% in the second quarter. First Trust Advisors LP now owns 545,724 shares of the technology company’s stock worth $134,188,000 after buying an additional 4,689 shares in the last quarter. Invesco Ltd. raised its stake in shares of Watts Water Technologies by 16.5% in the second quarter. Invesco Ltd. now owns 349,418 shares of the technology company’s stock worth $85,918,000 after buying an additional 49,462 shares during the period. Norges Bank purchased a new position in shares of Watts Water Technologies during the 2nd quarter valued at about $80,386,000. Finally, AQR Capital Management LLC lifted its holdings in Watts Water Technologies by 148.3% during the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after purchasing an additional 165,837 shares in the last quarter. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Trading Up 2.0%

WTS opened at $330.33 on Wednesday. The stock has a 50-day moving average of $299.29 and a 200 day moving average of $284.37. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The firm has a market cap of $11.02 billion, a P/E ratio of 32.48, a P/E/G ratio of 2.95 and a beta of 1.24.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business had revenue of $625.10 million during the quarter, compared to analyst estimates of $610.40 million. During the same period last year, the company earned $2.05 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, research analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 1.9%. Watts Water Technologies’s payout ratio is presently 20.45%.

Analyst Upgrades and Downgrades

WTS has been the subject of several recent analyst reports. Barclays upped their target price on shares of Watts Water Technologies from $300.00 to $323.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Jefferies Financial Group initiated coverage on Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 price objective for the company. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a report on Thursday, January 8th. Finally, The Goldman Sachs Group increased their price objective on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $334.11.

Insiders Place Their Bets

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 605 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the sale, the chief accounting officer owned 13,412 shares in the company, valued at $3,712,173.36. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of Watts Water Technologies stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total value of $1,613,427.00. Following the sale, the general counsel owned 12,284 shares of the company’s stock, valued at approximately $3,944,146.72. This trade represents a 29.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 29,196 shares of company stock worth $9,514,741. 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.