Assenagon Asset Management S.A. Trims Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Assenagon Asset Management S.A. lowered its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 51.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,375 shares of the technology company's stock after selling 12,209 shares during the period. Assenagon Asset Management S.A.'s holdings in Watts Water Technologies were worth $2,357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WTS. Elevated Capital Advisors LLC purchased a new stake in shares of Watts Water Technologies in the 3rd quarter valued at $317,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Watts Water Technologies during the third quarter valued at about $68,000. Allspring Global Investments Holdings LLC grew its stake in shares of Watts Water Technologies by 79.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 106,183 shares of the technology company's stock valued at $22,000,000 after buying an additional 47,123 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Watts Water Technologies by 14.8% in the third quarter. Raymond James & Associates now owns 96,817 shares of the technology company's stock worth $20,060,000 after buying an additional 12,516 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Watts Water Technologies by 99.3% in the 3rd quarter. Blue Trust Inc. now owns 544 shares of the technology company's stock valued at $113,000 after acquiring an additional 271 shares during the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WTS has been the topic of a number of analyst reports. StockNews.com raised Watts Water Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. Robert W. Baird lowered their price target on shares of Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Finally, Stifel Nicolaus cut their price target on shares of Watts Water Technologies from $217.00 to $202.00 and set a "hold" rating on the stock in a report on Friday, August 9th.

Insider Buying and Selling at Watts Water Technologies

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

Watts Water Technologies Trading Up 1.6 %

Shares of WTS traded up $3.09 during mid-day trading on Friday, hitting $193.68. 115,126 shares of the company's stock traded hands, compared to its average volume of 145,326. The firm has a market capitalization of $6.46 billion, a P/E ratio of 22.85, a PEG ratio of 2.84 and a beta of 0.89. The business's 50-day moving average price is $199.96 and its 200-day moving average price is $197.24. Watts Water Technologies, Inc. has a 1 year low of $174.04 and a 1 year high of $219.52. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. Watts Water Technologies had a return on equity of 18.86% 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 period in the previous year, the firm posted $2.04 EPS. The business's revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Watts Water Technologies, Inc. will post 8.7 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued 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 0.89%. Watts Water Technologies's dividend payout ratio (DPR) is 20.62%.

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.