Citigroup Inc. Sells 8,843 Shares of Watts Water Technologies, Inc. $WTS

Citigroup Inc. cut its position in Watts Water Technologies, Inc. (NYSE:WTS) by 58.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,387 shares of the technology company’s stock after selling 8,843 shares during the period. Citigroup Inc.’s holdings in Watts Water Technologies were worth $1,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Watts Water Technologies in the 2nd quarter worth $80,386,000. AQR Capital Management LLC raised its holdings in Watts Water Technologies by 148.3% during the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after acquiring an additional 165,837 shares during the period. Geode Capital Management LLC lifted its position in shares of Watts Water Technologies by 20.7% in the second quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock valued at $197,728,000 after acquiring an additional 138,034 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Watts Water Technologies by 156.2% in the second quarter. Qube Research & Technologies Ltd now owns 86,681 shares of the technology company’s stock valued at $21,314,000 after acquiring an additional 52,847 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Watts Water Technologies by 16.5% in the second quarter. Invesco Ltd. now owns 349,418 shares of the technology company’s stock worth $85,918,000 after acquiring an additional 49,462 shares during the period. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $306.11 on Monday. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $345.17. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average is $305.63 and its 200 day moving average is $287.06. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.79 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.26. The business had revenue of $625.10 million during the quarter, compared to analysts’ expectations of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The business’s revenue was up 15.7% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. Sell-side analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.52 dividend. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a yield of 2.0%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 20.45%.

Analyst Ratings Changes

Several research firms recently issued reports on WTS. Wells Fargo & Company set a $275.00 target price on Watts Water Technologies in a research report on Thursday, January 8th. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Royal Bank Of Canada increased their price objective on shares of Watts Water Technologies from $288.00 to $337.00 and gave the company a “sector perform” rating in a report on Friday, February 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. Finally, Jefferies Financial Group started coverage on shares of Watts Water Technologies in a report on Friday, December 12th. They issued a “hold” rating and a $300.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and an average target price of $334.11.

Insider Buying and Selling

In other news, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the completion of the transaction, the chief accounting officer owned 13,412 shares in the company, valued at approximately $3,712,173.36. The trade was a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total value of $1,613,427.00. Following the transaction, the general counsel directly owned 12,284 shares in the company, valued at approximately $3,944,146.72. This represents a 29.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,196 shares of company stock valued at $9,514,741. Insiders own 1.10% of the company’s stock.

Watts Water Technologies Company 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.