Shell Asset Management Co. cut its holdings in Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) by 39.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,282 shares of the technology company’s stock after selling 2,804 shares during the period. Shell Asset Management Co.’s holdings in Watts Water Technologies were worth $598,000 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. Russell Investments Group Ltd. lifted its holdings in Watts Water Technologies by 1.3% in the fourth quarter. Russell Investments Group Ltd. now owns 4,589 shares of the technology company’s stock valued at $890,000 after acquiring an additional 61 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Watts Water Technologies by 10.6% in the fourth quarter. Van ECK Associates Corp now owns 762 shares of the technology company’s stock valued at $148,000 after acquiring an additional 73 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Watts Water Technologies by 2.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,487 shares of the technology company’s stock worth $2,619,000 after purchasing an additional 325 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Watts Water Technologies during the fourth quarter worth $3,029,000. Finally, Yousif Capital Management LLC acquired a new position in Watts Water Technologies during the fourth quarter worth $5,017,000. 75.11% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. Boenning Scattergood restated a “neutral” rating on shares of Watts Water Technologies in a research note on Wednesday, May 4th. The Goldman Sachs Group decreased their price target on Watts Water Technologies from $165.00 to $147.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 13th. Cowen decreased their price target on Watts Water Technologies from $130.00 to $120.00 in a research note on Tuesday, June 28th. Stifel Nicolaus decreased their price target on Watts Water Technologies from $141.00 to $130.00 in a research note on Wednesday, July 20th. Finally, Northcoast Research started coverage on Watts Water Technologies in a research note on Friday, July 15th. They set a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $129.25.
Watts Water Technologies Stock Down 1.5 %
Watts Water Technologies (NYSE:WTS – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.24. The business had revenue of $463.20 million for the quarter, compared to analyst estimates of $442.80 million. Watts Water Technologies had a return on equity of 17.41% and a net margin of 9.60%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. As a group, equities analysts expect that Watts Water Technologies, Inc. will post 6.14 earnings per share for the current fiscal year.
Insider Activity at Watts Water Technologies
In related news, insider Elie Melhem sold 3,800 shares of the stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $129.54, for a total value of $492,252.00. Following the transaction, the insider now owns 12,303 shares of the company’s stock, valued at $1,593,730.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products, solution, and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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