Alps Advisors Inc. Decreases Stake in Watts Water Technologies, Inc. $WTS

Alps Advisors Inc. decreased its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 15.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,746 shares of the technology company’s stock after selling 5,939 shares during the quarter. Alps Advisors Inc. owned about 0.10% of Watts Water Technologies worth $8,866,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. MTM Investment Management LLC purchased a new position in shares of Watts Water Technologies in the 2nd quarter valued at about $25,000. Cullen Frost Bankers Inc. increased its holdings in Watts Water Technologies by 156.9% in the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock valued at $32,000 after buying an additional 80 shares in the last quarter. GAMMA Investing LLC increased its holdings in Watts Water Technologies by 31.6% in the third quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after buying an additional 62 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Watts Water Technologies by 138.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the technology company’s stock valued at $92,000 after acquiring an additional 191 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Watts Water Technologies by 474.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock worth $83,000 after acquiring an additional 280 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 6,994 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $278.65, for a total value of $1,948,878.10. Following the completion of the transaction, the insider directly owned 23,006 shares in the company, valued at approximately $6,410,621.90. This represents a 23.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Virginia A. Halloran sold 605 shares of the 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 in the company, valued at $3,712,173.36. This trade represents a 4.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,605 shares of company stock valued at $4,296,387 over the last quarter. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on WTS. TD Cowen reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th. Zacks Research raised Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Barclays increased their price objective on shares of Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Weiss Ratings restated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Finally, HSBC started coverage on shares of Watts Water Technologies in a report on Tuesday, January 27th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Watts Water Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $288.57.

Watts Water Technologies Price Performance

NYSE:WTS opened at $319.38 on Monday. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $319.85. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24. The company’s 50-day moving average is $287.05 and its two-hundred day moving average is $278.72. The company has a current ratio of 2.83, a quick ratio of 1.84 and a debt-to-equity ratio of 0.10.

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.