Vanguard Group Inc. Trims Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Vanguard Group Inc. lowered its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,089,851 shares of the technology company's stock after selling 53,658 shares during the quarter. Vanguard Group Inc. owned approximately 9.27% of Watts Water Technologies worth $628,167,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Citigroup Inc. lifted its holdings in Watts Water Technologies by 157.4% during the third quarter. Citigroup Inc. now owns 25,006 shares of the technology company's stock worth $5,181,000 after buying an additional 15,290 shares during the period. Cerity Partners LLC raised its position in shares of Watts Water Technologies by 24.0% in the 3rd quarter. Cerity Partners LLC now owns 12,352 shares of the technology company's stock worth $2,559,000 after acquiring an additional 2,390 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Watts Water Technologies by 89.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 61,968 shares of the technology company's stock worth $12,839,000 after purchasing an additional 29,332 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in Watts Water Technologies during the third quarter valued at about $246,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Watts Water Technologies by 3.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,000 shares of the technology company's stock valued at $4,144,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WTS shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Watts Water Technologies in a report on Tuesday, December 17th. They issued a "hold" rating and a $240.00 price target on the stock. The Goldman Sachs Group raised their target price on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Finally, Stifel Nicolaus upped their price target on Watts Water Technologies from $218.00 to $219.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $220.00.

Watts Water Technologies Stock Performance

WTS stock traded down $7.97 during trading on Friday, reaching $187.48. The company had a trading volume of 239,157 shares, compared to its average volume of 163,375. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 3.42 and a beta of 0.93. Watts Water Technologies, Inc. has a twelve month low of $175.37 and a twelve month high of $232.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59. The firm has a 50-day simple moving average of $210.48 and a 200-day simple moving average of $208.16.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. As a group, sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, February 28th. Watts Water Technologies's payout ratio is 19.79%.

Insider Buying and Selling

In related news, insider Elie Melhem sold 4,397 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total transaction of $925,700.41. Following the completion of the transaction, the insider now directly owns 10,469 shares in the company, valued at $2,204,038.57. The trade was a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.