Geode Capital Management LLC Sells 98,299 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Geode Capital Management LLC reduced its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 13.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 643,444 shares of the technology company's stock after selling 98,299 shares during the quarter. Geode Capital Management LLC owned 1.93% of Watts Water Technologies worth $130,841,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of WTS. UMB Bank n.a. boosted its stake in Watts Water Technologies by 59.8% in the 4th quarter. UMB Bank n.a. now owns 155 shares of the technology company's stock worth $32,000 after purchasing an additional 58 shares during the period. Jones Financial Companies Lllp boosted its position in Watts Water Technologies by 660.3% during the 4th quarter. Jones Financial Companies Lllp now owns 555 shares of the technology company's stock worth $113,000 after acquiring an additional 482 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Watts Water Technologies by 45.2% in the fourth quarter. Farther Finance Advisors LLC now owns 565 shares of the technology company's stock valued at $115,000 after purchasing an additional 176 shares during the last quarter. Leavell Investment Management Inc. acquired a new position in Watts Water Technologies during the fourth quarter worth $205,000. Finally, Quantinno Capital Management LP acquired a new stake in Watts Water Technologies in the 3rd quarter valued at $231,000. Institutional investors and hedge funds own 95.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Watts Water Technologies in a report on Tuesday, December 17th. They set a "hold" rating and a $240.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Watts Water Technologies from $218.00 to $219.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their price objective on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $220.00.

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Watts Water Technologies Trading Up 1.4 %

WTS traded up $2.74 during trading on Monday, reaching $196.45. 9,911 shares of the company's stock were exchanged, compared to its average volume of 165,776. The firm has a fifty day moving average price of $207.70 and a two-hundred day moving average price of $207.36. The stock has a market capitalization of $6.54 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 3.42 and a beta of 0.95. Watts Water Technologies, Inc. has a one year low of $175.37 and a one year high of $232.60. The company has a current ratio of 2.59, a quick ratio of 1.65 and a debt-to-equity ratio of 0.12.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Monday, February 10th. The technology company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. As a group, equities research analysts forecast that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a yield of 0.88%. Watts Water Technologies's payout ratio is currently 19.79%.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 4,397 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total value of $925,700.41. Following the transaction, the insider now directly owns 10,469 shares of the company's stock, valued at approximately $2,204,038.57. This trade represents a 29.58 % 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. 1.10% of the stock is owned by corporate insiders.

Watts Water Technologies Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.