Victory Capital Management Inc. Reduces Stock Position in Watts Water Technologies, Inc. (NYSE:WTS)

Victory Capital Management Inc. decreased its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 4.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,234 shares of the technology company's stock after selling 24,236 shares during the quarter. Victory Capital Management Inc. owned about 1.62% of Watts Water Technologies worth $99,429,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Truist Financial Corp acquired a new stake in Watts Water Technologies during the 4th quarter worth about $832,000. Spire Wealth Management lifted its holdings in shares of Watts Water Technologies by 75.3% in the 4th quarter. Spire Wealth Management now owns 340 shares of the technology company's stock valued at $68,000 after buying an additional 146 shares during the period. Private Advisor Group LLC acquired a new position in shares of Watts Water Technologies in the 4th quarter valued at about $225,000. Apollon Wealth Management LLC acquired a new position in shares of Watts Water Technologies in the 4th quarter valued at about $570,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Watts Water Technologies by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 295,591 shares of the technology company's stock valued at $61,583,000 after buying an additional 3,292 shares during the period. Institutional investors and hedge funds own 95.02% of the company's stock.

Insiders Place Their Bets

In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the transaction, the insider now directly owns 11,516 shares in the company, valued at $2,132,302.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael J. Dubose sold 315 shares of the company's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total transaction of $58,567.95. Following the sale, the director now owns 2,755 shares of the company's stock, valued at $512,237.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 1,710 shares of the company's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the sale, the insider now directly owns 11,516 shares in the company, valued at approximately $2,132,302.56. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Watts Water Technologies Price Performance

Shares of WTS stock traded down $1.14 during trading hours on Friday, reaching $189.06. The company had a trading volume of 230,705 shares, compared to its average volume of 149,535. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 2.50. The stock has a fifty day moving average of $190.89 and a 200-day moving average of $197.95. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 2.76 and a beta of 0.89. Watts Water Technologies, Inc. has a 12-month low of $167.87 and a 12-month high of $219.52.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.13. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The firm had revenue of $597.30 million for the quarter, compared to analysts' expectations of $589.55 million. During the same period in the prior year, the firm posted $2.34 earnings per share. The firm's quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts anticipate that Watts Water Technologies, Inc. will post 8.71 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, August 30th. Watts Water Technologies's dividend payout ratio (DPR) is 21.34%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com raised Watts Water Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Stifel Nicolaus cut their price target on Watts Water Technologies from $217.00 to $202.00 and set a "hold" rating for the company in a research note on Friday, August 9th. Finally, Robert W. Baird cut their price target on Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating for the company in a research note on Friday, August 9th.

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.