Sanctuary Advisors LLC trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 39.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,390 shares of the technology company’s stock after selling 1,557 shares during the quarter. Sanctuary Advisors LLC’s holdings in Watts Water Technologies were worth $694,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC purchased a new stake in shares of Watts Water Technologies in the 4th quarter valued at approximately $2,848,000. Cumberland Partners Ltd lifted its holdings in shares of Watts Water Technologies by 100.0% in the 4th quarter. Cumberland Partners Ltd now owns 13,000 shares of the technology company’s stock worth $3,588,000 after acquiring an additional 6,500 shares during the last quarter. Mach 1 Financial Group LLC purchased a new position in shares of Watts Water Technologies during the 4th quarter worth approximately $1,950,000. AE Wealth Management LLC boosted its position in shares of Watts Water Technologies by 23.8% during the 4th quarter. AE Wealth Management LLC now owns 171,194 shares of the technology company’s stock worth $47,253,000 after purchasing an additional 32,901 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in Watts Water Technologies by 94.2% in the 4th quarter. Handelsbanken Fonder AB now owns 61,624 shares of the technology company’s stock valued at $17,009,000 after purchasing an additional 29,896 shares during the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the sale, the insider directly owned 8,963 shares in the company, valued at approximately $2,697,863. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the sale, the director directly owned 1,814 shares in the company, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.00% of the company’s stock.
Watts Water Technologies Stock Up 0.0%
Watts Water Technologies (NYSE:WTS – Get Free Report) last released its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million during the quarter, compared to analyst estimates of $638.13 million. During the same period last year, the business posted $2.37 earnings per share. Watts Water Technologies’s revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts expect that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.
Watts Water Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 23.06%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on WTS. TD Cowen boosted their target price on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Barclays upgraded Watts Water Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $317.00 to $414.00 in a research report on Tuesday, June 30th. Royal Bank Of Canada lifted their price objective on Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a report on Friday, May 8th. Finally, Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Watts Water Technologies has an average rating of “Hold” and a consensus price target of $345.30.
Read Our Latest Analysis on WTS
About Watts Water Technologies
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.
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