Ledyard National Bank Cuts Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Ledyard National Bank lowered its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 70.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,162 shares of the technology company's stock after selling 2,804 shares during the period. Ledyard National Bank's holdings in Watts Water Technologies were worth $241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Watts Water Technologies by 1.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,050,215 shares of the technology company's stock valued at $375,948,000 after buying an additional 29,473 shares during the period. Mirova US LLC boosted its position in shares of Watts Water Technologies by 2.2% during the second quarter. Mirova US LLC now owns 715,674 shares of the technology company's stock valued at $131,233,000 after buying an additional 15,462 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Watts Water Technologies by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 587,538 shares of the technology company's stock valued at $107,738,000 after buying an additional 6,742 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Watts Water Technologies by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 338,378 shares of the technology company's stock valued at $71,924,000 after buying an additional 1,049 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Watts Water Technologies by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 287,553 shares of the technology company's stock valued at $52,729,000 after buying an additional 8,370 shares during the period. Hedge funds and other institutional investors own 95.02% of the company's stock.

Watts Water Technologies Trading Down 0.1 %

Shares of Watts Water Technologies stock traded down $0.22 on Wednesday, hitting $200.49. 133,858 shares of the company traded hands, compared to its average volume of 146,210. The stock's 50 day moving average price is $198.69 and its 200-day moving average price is $197.47. The company has a current ratio of 2.50, a quick ratio of 1.49 and a debt-to-equity ratio of 0.16. Watts Water Technologies, Inc. has a 52 week low of $167.87 and a 52 week high of $219.52. The company has a market cap of $6.69 billion, a PE ratio of 24.87, a PEG ratio of 2.95 and a beta of 0.89.

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

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Friday, August 30th. Watts Water Technologies's dividend payout ratio (DPR) is 21.34%.

Insider Buying and Selling

In related news, Director Michael J. Dubose sold 315 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares of the company's stock, valued at $512,237.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Michael J. Dubose sold 315 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares of the company's stock, valued at $512,237.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Elie Melhem sold 1,710 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 11,516 shares of the company's stock, valued at $2,132,302.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WTS has been the subject of several recent analyst reports. Robert W. Baird dropped their target price on Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating for the company in a research report on Friday, August 9th. StockNews.com raised shares of Watts Water Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus decreased their price target on shares of 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.

Watts Water Technologies Company 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.