Victory Capital Management Inc. Sells 134,266 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Victory Capital Management Inc. trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 24.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 407,968 shares of the technology company's stock after selling 134,266 shares during the period. Victory Capital Management Inc. owned about 1.22% of Watts Water Technologies worth $84,527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WTS. HWG Holdings LP purchased a new position in shares of Watts Water Technologies in the second quarter valued at about $28,000. V Square Quantitative Management LLC bought a new position in Watts Water Technologies during the 3rd quarter valued at approximately $30,000. Gradient Investments LLC purchased a new stake in Watts Water Technologies in the 2nd quarter worth approximately $31,000. Blue Trust Inc. grew its position in shares of Watts Water Technologies by 520.5% in the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company's stock worth $50,000 after buying an additional 229 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Watts Water Technologies during the first quarter valued at approximately $53,000. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Stock Up 0.9 %

Shares of NYSE:WTS traded up $1.83 during midday trading on Thursday, reaching $211.99. The company's stock had a trading volume of 116,122 shares, compared to its average volume of 145,439. The company has a quick ratio of 1.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $202.02 and a 200-day moving average of $197.40. The firm has a market capitalization of $7.07 billion, a P/E ratio of 25.21, a PEG ratio of 2.96 and a beta of 0.90. Watts Water Technologies, Inc. has a 12-month low of $175.37 and a 12-month high of $219.52.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $2.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. The business had revenue of $543.60 million for the quarter, compared to analysts' expectations of $541.83 million. During the same quarter in the prior year, the company earned $2.04 earnings per share. The business's revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Watts Water Technologies, Inc. will post 8.74 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced 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. This represents a $1.72 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, November 29th. Watts Water Technologies's dividend payout ratio (DPR) is 20.62%.

Insider Transactions at Watts Water Technologies

In other news, CEO Robert J. Pagano, Jr. sold 20,810 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $212.20, for a total transaction of $4,415,882.00. Following the sale, the chief executive officer now owns 176,045 shares in the company, valued at $37,356,749. This represents a 10.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shashank Patel sold 4,569 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $209.10, for a total transaction of $955,377.90. Following the completion of the transaction, the chief financial officer now owns 15,635 shares of the company's stock, valued at approximately $3,269,278.50. The trade was a 22.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,684 shares of company stock valued at $7,241,218. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on WTS shares. Northcoast Research raised Watts Water Technologies from a "neutral" rating to a "buy" rating and set a $225.00 price target for the company in a research note on Monday, November 4th. Robert W. Baird reduced their price target on shares of Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating on the stock in a research report on Friday, August 9th. StockNews.com upgraded shares of Watts Water Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Finally, Stifel Nicolaus reduced their target price on Watts Water Technologies from $217.00 to $202.00 and set a "hold" rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Watts Water Technologies presently has an average rating of "Hold" and an average target price of $200.25.

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.