AEGON ASSET MANAGEMENT UK Plc Sells 23,816 Shares of Watts Water Technologies, Inc. $WTS

AEGON ASSET MANAGEMENT UK Plc lessened its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 30.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,076 shares of the technology company’s stock after selling 23,816 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned about 0.16% of Watts Water Technologies worth $15,106,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in WTS. Envestnet Portfolio Solutions Inc. bought a new stake in Watts Water Technologies in the second quarter worth $233,000. JPMorgan Chase & Co. increased its holdings in shares of Watts Water Technologies by 10.5% during the second quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock valued at $60,425,000 after acquiring an additional 23,447 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Watts Water Technologies in the 2nd quarter worth about $50,400,000. Burney Co. boosted its stake in Watts Water Technologies by 96.1% in the 3rd quarter. Burney Co. now owns 67,700 shares of the technology company’s stock worth $18,907,000 after purchasing an additional 33,179 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Watts Water Technologies by 2,366.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 153,282 shares of the technology company’s stock valued at $37,691,000 after purchasing an additional 147,068 shares during the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on WTS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. KeyCorp raised shares of Watts Water Technologies from a “sector weight” rating to an “overweight” rating and set a $340.00 price target for the company in a research report on Wednesday. Royal Bank Of Canada began coverage on shares of Watts Water Technologies in a report on Monday, January 5th. They issued a “sector perform” rating and a $288.00 price objective for the company. Wells Fargo & Company set a $275.00 target price on Watts Water Technologies in a research note on Thursday, January 8th. Finally, Wall Street Zen raised Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $288.57.

Insiders Place Their Bets

In other news, CAO Virginia A. Halloran sold 605 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the transaction, the chief accounting officer owned 13,412 shares of the company’s stock, valued at $3,712,173.36. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Timothy P. Horne sold 6,994 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $278.65, for a total value of $1,948,878.10. Following the transaction, the insider owned 23,006 shares of the company’s stock, valued at approximately $6,410,621.90. This trade represents a 23.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 15,605 shares of company stock worth $4,296,387. 1.10% of the stock is owned by insiders.

Watts Water Technologies Price Performance

NYSE WTS opened at $299.31 on Monday. The company has a 50-day moving average price of $280.75 and a 200-day moving average price of $275.07. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $306.01. The company has a quick ratio of 1.84, a current ratio of 2.83 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $9.98 billion, a P/E ratio of 30.89, a PEG ratio of 2.79 and a beta of 1.24.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.21. Watts Water Technologies had a net margin of 13.79% and a return on equity of 18.31%. The company had revenue of $611.70 million during the quarter, compared to analyst estimates of $576.20 million. During the same period in the previous year, the business posted $2.03 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, December 1st. Watts Water Technologies’s dividend payout ratio is 21.47%.

Watts Water Technologies Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.