Fox Run Management L.L.C. Trims Stock Position in Watts Water Technologies, Inc. $WTS

Fox Run Management L.L.C. lessened its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 66.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,608 shares of the technology company’s stock after selling 3,212 shares during the period. Fox Run Management L.L.C.’s holdings in Watts Water Technologies were worth $449,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WTS. Geode Capital Management LLC raised its position in Watts Water Technologies by 20.7% in the second quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock worth $197,728,000 after acquiring an additional 138,034 shares during the period. First Trust Advisors LP raised its holdings in Watts Water Technologies by 0.9% in the 2nd quarter. First Trust Advisors LP now owns 545,724 shares of the technology company’s stock worth $134,188,000 after purchasing an additional 4,689 shares during the period. Invesco Ltd. lifted its position in Watts Water Technologies by 16.5% during the second quarter. Invesco Ltd. now owns 349,418 shares of the technology company’s stock valued at $85,918,000 after purchasing an additional 49,462 shares in the last quarter. Norges Bank purchased a new position in Watts Water Technologies during the second quarter valued at $80,386,000. Finally, AQR Capital Management LLC grew 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 during the period. 95.02% of the stock is currently owned by institutional investors.

Insider Transactions at Watts Water Technologies

In related news, General Counsel Kenneth Robert Lepage sold 5,025 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total value of $1,613,427.00. Following the completion of the transaction, the general counsel directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Virginia A. Halloran sold 605 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was 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 in the company, valued at $3,712,173.36. This represents a 4.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,196 shares of company stock worth $9,514,741. 1.10% of the stock is owned by corporate insiders.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $329.04 on Monday. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 2.99 and a beta of 1.23. The firm has a fifty day moving average price of $302.31 and a 200 day moving average price of $285.58. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $345.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, topping the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The business had revenue of $625.10 million for the quarter, compared to analysts’ expectations of $610.40 million. During the same quarter in the previous year, the company earned $2.05 EPS. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

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

Analyst Ratings Changes

WTS has been the topic of several recent research reports. Jefferies Financial Group assumed coverage on Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 price objective on the stock. Zacks Research raised shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Robert W. Baird set a $361.00 price objective on shares of Watts Water Technologies in a research note on Friday, February 13th. Weiss Ratings restated a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. Finally, Royal Bank Of Canada upped their target price on shares of Watts Water Technologies from $288.00 to $337.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $334.11.

Watts Water Technologies Company Profile

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.