Corebridge Financial Inc. Reduces Stock Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Corebridge Financial Inc. lessened its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,411 shares of the technology company's stock after selling 2,432 shares during the quarter. Corebridge Financial Inc. owned about 0.13% of Watts Water Technologies worth $9,029,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WTS. State Street Corp raised its position in Watts Water Technologies by 0.9% in the third quarter. State Street Corp now owns 977,000 shares of the technology company's stock valued at $202,425,000 after purchasing an additional 8,314 shares during the period. Geode Capital Management LLC lifted its position in Watts Water Technologies by 4.3% in the third quarter. Geode Capital Management LLC now owns 741,743 shares of the technology company's stock valued at $153,708,000 after buying an additional 30,688 shares during the last quarter. Boston Partners boosted its stake in Watts Water Technologies by 7.6% during the fourth quarter. Boston Partners now owns 632,155 shares of the technology company's stock worth $128,527,000 after buying an additional 44,465 shares during the period. KBC Group NV increased its position in shares of Watts Water Technologies by 6.5% during the fourth quarter. KBC Group NV now owns 323,007 shares of the technology company's stock valued at $65,667,000 after acquiring an additional 19,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Watts Water Technologies by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 319,703 shares of the technology company's stock valued at $64,996,000 after acquiring an additional 3,296 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

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

Watts Water Technologies Stock Up 1.2 %

WTS stock traded up $2.37 during midday trading on Tuesday, hitting $206.29. The company's stock had a trading volume of 161,618 shares, compared to its average volume of 162,274. The firm has a 50-day simple moving average of $211.32 and a 200-day simple moving average of $208.30. The firm has a market capitalization of $6.87 billion, a P/E ratio of 23.74, a PEG ratio of 3.42 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $232.60.

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

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.83%. Watts Water Technologies's payout ratio is 19.79%.

Insider Activity at Watts Water Technologies

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 owns 10,469 shares in the company, valued at approximately $2,204,038.57. The trade was a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.