Massachusetts Financial Services Co. MA Sells 67,274 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Massachusetts Financial Services Co. MA lessened its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 86.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,607 shares of the technology company's stock after selling 67,274 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Watts Water Technologies were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. HWG Holdings LP acquired a new position in Watts Water Technologies in the second quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in shares of Watts Water Technologies in the 3rd quarter valued at approximately $30,000. Gradient Investments LLC acquired a new position in shares of Watts Water Technologies in the 2nd quarter worth approximately $31,000. Blue Trust Inc. lifted its position in shares of Watts Water Technologies by 520.5% during the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company's stock worth $50,000 after buying an additional 229 shares during the period. Finally, Fifth Third Bancorp boosted its stake in Watts Water Technologies by 30.0% in the 2nd quarter. Fifth Third Bancorp now owns 338 shares of the technology company's stock valued at $62,000 after buying an additional 78 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Stock Performance

Shares of WTS opened at $215.06 on Wednesday. The company has a market cap of $7.17 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 3.12 and a beta of 0.90. The firm has a 50-day moving average of $205.51 and a 200-day moving average of $197.69. Watts Water Technologies, Inc. has a one year low of $175.37 and a one year high of $221.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.04. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. The business had revenue of $543.60 million for the quarter, compared to analysts' expectations of $541.83 million. During the same quarter in the prior year, the business earned $2.04 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Watts Water Technologies, Inc. will post 8.75 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 0.80%. Watts Water Technologies's dividend payout ratio (DPR) is currently 20.62%.

Insiders Place Their Bets

In other Watts Water Technologies news, insider Monica Barry sold 1,559 shares of Watts Water Technologies stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $212.52, for a total value of $331,318.68. Following the completion of the transaction, the insider now directly owns 4,430 shares of the company's stock, valued at $941,463.60. The trade was a 26.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kenneth Robert Lepage sold 3,429 shares of the business's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $194.65, for a total value of $667,454.85. Following the completion of the transaction, the general counsel now directly owns 14,064 shares of the company's stock, valued at approximately $2,737,557.60. This trade represents a 19.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,974 shares of company stock worth $6,924,594 over the last three months. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Watts Water Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Robert W. Baird decreased their price target on Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus dropped their price target on Watts Water Technologies from $217.00 to $202.00 and set a "hold" rating for the company in a report on Friday, August 9th. Finally, Northcoast Research raised Watts Water Technologies from a "neutral" rating to a "buy" rating and set a $225.00 price objective on the stock in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $200.25.

About Watts Water Technologies

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.