Vaughan Nelson Investment Management L.P. Trims Holdings in Watts Water Technologies, Inc. $WTS

Vaughan Nelson Investment Management L.P. decreased its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 101,260 shares of the technology company’s stock after selling 5,080 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Watts Water Technologies were worth $27,950,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. World Investment Advisors increased its holdings in Watts Water Technologies by 1.4% during the 3rd quarter. World Investment Advisors now owns 2,648 shares of the technology company’s stock worth $740,000 after acquiring an additional 37 shares during the period. Centennial Wealth Advisory LLC increased its holdings in shares of Watts Water Technologies by 3.8% in the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock worth $279,000 after purchasing an additional 37 shares during the period. Texas Yale Capital Corp. raised its position in shares of Watts Water Technologies by 4.4% in the third quarter. Texas Yale Capital Corp. now owns 940 shares of the technology company’s stock worth $263,000 after buying an additional 40 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Watts Water Technologies by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 6,457 shares of the technology company’s stock valued at $1,588,000 after buying an additional 40 shares during the period. Finally, Journey Strategic Wealth LLC grew its position in Watts Water Technologies by 4.3% during the third quarter. Journey Strategic Wealth LLC now owns 1,001 shares of the technology company’s stock worth $280,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Wall Street Analysts Forecast Growth

WTS has been the topic of several recent analyst reports. Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $339.00 price objective on shares of Watts Water Technologies in a research report on Friday, February 13th. Jefferies Financial Group initiated coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 target price on the stock. Stifel Nicolaus boosted their price target on shares of Watts Water Technologies from $320.00 to $389.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, TD Cowen reissued a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Watts Water Technologies has a consensus rating of “Hold” and an average target price of $334.11.

Insider Buying and Selling

In other news, General Counsel Kenneth Robert Lepage sold 5,025 shares of Watts Water Technologies stock in a transaction dated 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 transaction, the general counsel owned 12,284 shares in the company, valued at approximately $3,944,146.72. The trade was a 29.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Dubose sold 332 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $301.70, for a total value of $100,164.40. Following the completion of the sale, the director directly owned 2,212 shares of the company’s stock, valued at approximately $667,360.40. This trade represents a 13.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,674 shares of company stock worth $9,669,838 over the last 90 days. Insiders own 1.10% of the company’s stock.

Watts Water Technologies Price Performance

Shares of Watts Water Technologies stock opened at $290.59 on Wednesday. The firm has a market capitalization of $9.69 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 2.58 and a beta of 1.23. 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 business’s 50-day moving average price is $309.37 and its 200-day moving average price is $289.16.

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

Watts Water Technologies Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 2.1%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 20.45%.

Watts Water Technologies 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.