IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Position in Watts Water Technologies, Inc. (NYSE:WTS)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 61.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,466 shares of the technology company's stock after selling 6,988 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Watts Water Technologies were worth $908,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in shares of Watts Water Technologies during the third quarter valued at $1,068,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Watts Water Technologies by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 316,407 shares of the technology company's stock valued at $65,556,000 after acquiring an additional 9,148 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Watts Water Technologies by 157.4% during the third quarter. Citigroup Inc. now owns 25,006 shares of the technology company's stock valued at $5,181,000 after purchasing an additional 15,290 shares during the last quarter. Cerity Partners LLC lifted its position in Watts Water Technologies by 24.0% during the third quarter. Cerity Partners LLC now owns 12,352 shares of the technology company's stock valued at $2,559,000 after purchasing an additional 2,390 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Watts Water Technologies by 89.9% in the third 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. Institutional investors own 95.02% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts have recently weighed in on WTS shares. Deutsche Bank Aktiengesellschaft started coverage on Watts Water Technologies in a report on Tuesday, December 17th. They set a "hold" rating and a $240.00 price target on the stock. The Goldman Sachs Group upped their price target 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. Finally, Stifel Nicolaus boosted their price objective on Watts Water Technologies from $218.00 to $219.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. Four 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 currently has a consensus rating of "Hold" and an average target price of $220.00.

Watts Water Technologies Trading Up 0.9 %

Shares of Watts Water Technologies stock traded up $1.88 on Tuesday, reaching $205.80. The company had a trading volume of 23,644 shares, compared to its average volume of 185,044. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 3.42 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65. The firm's 50-day moving average price is $211.46 and its two-hundred day moving average price is $208.22. Watts Water Technologies, Inc. has a 1 year low of $175.37 and a 1 year high of $232.60.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 EPS for the quarter, topping the consensus estimate 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, research analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.84%. Watts Water Technologies's dividend payout ratio is presently 19.79%.

Insider Activity

In other news, insider Elie Melhem sold 4,397 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total value of $925,700.41. Following the completion of the sale, the insider now owns 10,469 shares of the company's stock, valued at $2,204,038.57. This trade represents a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company's stock.

About Watts Water Technologies

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.