Boston Trust Walden Corp Sells 16,192 Shares of Watts Water Technologies, Inc. $WTS

Boston Trust Walden Corp reduced its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 4.4% during the third quarter, Holdings Channel reports. The institutional investor owned 352,775 shares of the technology company’s stock after selling 16,192 shares during the quarter. Watts Water Technologies comprises 1.0% of Boston Trust Walden Corp’s portfolio, making the stock its 14th biggest holding. Boston Trust Walden Corp’s holdings in Watts Water Technologies were worth $124,946,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Chicago Partners Investment Group LLC purchased a new stake in Watts Water Technologies during the 3rd quarter valued at about $316,000. Markel Group Inc. bought a new stake in Watts Water Technologies in the third quarter valued at approximately $1,196,000. Provenance Wealth Advisors LLC bought a new stake in Watts Water Technologies in the third quarter valued at approximately $37,000. Welch Group LLC boosted its stake in shares of Watts Water Technologies by 2.5% during the third quarter. Welch Group LLC now owns 5,537 shares of the technology company’s stock valued at $1,961,000 after purchasing an additional 137 shares during the period. Finally, Vise Technologies Inc. boosted its position in Watts Water Technologies by 22.3% during the 3rd quarter. Vise Technologies Inc. now owns 3,327 shares of the technology company’s stock valued at $1,178,000 after buying an additional 606 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insider Buying and Selling

In other news, insider Elie Melhem sold 1,096 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the completion of the sale, the insider directly owned 7,867 shares of the company’s stock, valued at $2,828,579.85. This represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Noonan sold 3,650 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.

Watts Water Technologies Price Performance

WTS opened at $354.23 on Thursday. The stock has a 50-day moving average price of $356.53 and a 200-day moving average price of $332.02. The firm has a market cap of $11.82 billion, a PE ratio of 30.49, a P/E/G ratio of 3.50 and a beta of 1.13. Watts Water Technologies, Inc. has a 1 year low of $260.00 and a 1 year high of $394.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, November 4th. The technology company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.26. The firm had revenue of $728.00 million during the quarter, compared to analyst estimates of $692.57 million. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.50 earnings per share. Sell-side analysts predict that Watts Water Technologies, Inc. will post 12.87 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, December 1st. Watts Water Technologies’s payout ratio is currently 22.01%.

Key Headlines Impacting Watts Water Technologies

Here are the key news stories impacting Watts Water Technologies this week:

• Positive Sentiment: Watts Water reported Q3 earnings of $3.40 per share, topping estimates of about $3.14–$3.15 and rising from $2.50 a year earlier. Revenue reached $728 million, above the $692.6 million consensus and up 19% year over year. The company described the quarter as a record. Earnings release
• Neutral Sentiment: The company maintained its quarterly dividend at $0.63 per share, payable December 15 to shareholders of record December 1. This continues the existing payout rather than signaling a change in dividend policy. Dividend announcement

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WTS shares. The Goldman Sachs Group restated a “neutral” rating and issued a $374.00 price objective on shares of Watts Water Technologies in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Stifel Nicolaus set a $445.00 target price on Watts Water Technologies in a research note on Monday, October 19th. Wall Street Zen cut Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $417.00 price target on shares of Watts Water Technologies in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $371.90.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.