Watts Water Technologies, Inc. $WTS Position Lessened by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,561 shares of the technology company’s stock after selling 9,645 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watts Water Technologies were worth $19,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. World Investment Advisors raised its holdings in shares of Watts Water Technologies by 1.4% during the third quarter. World Investment Advisors now owns 2,648 shares of the technology company’s stock worth $740,000 after acquiring an additional 37 shares in the last quarter. Centennial Wealth Advisory LLC raised its holdings in shares of Watts Water Technologies by 3.8% during the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock worth $279,000 after acquiring an additional 37 shares in the last quarter. Texas Yale Capital Corp. raised its holdings in shares of Watts Water Technologies by 4.4% during the third quarter. Texas Yale Capital Corp. now owns 940 shares of the technology company’s stock worth $263,000 after acquiring an additional 40 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Watts Water Technologies by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 6,457 shares of the technology company’s stock worth $1,588,000 after acquiring an additional 40 shares in the last quarter. Finally, Journey Strategic Wealth LLC raised its holdings in shares of Watts Water Technologies by 4.3% during the third quarter. Journey Strategic Wealth LLC now owns 1,001 shares of the technology company’s stock worth $280,000 after acquiring an additional 41 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WTS shares. TD Cowen restated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th. Weiss Ratings restated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. KeyCorp raised their target price on Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $339.00 target price on shares of Watts Water Technologies in a report on Friday, February 13th. Finally, Royal Bank Of Canada raised their target price on Watts Water Technologies from $288.00 to $337.00 and gave the company a “sector perform” rating in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and a consensus target price of $331.67.

Insider Buying and Selling

In other news, major shareholder Timothy P. Horne sold 7,500 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $330.04, for a total value of $2,475,300.00. Following the sale, the insider directly owned 7,500 shares of the company’s stock, valued at approximately $2,475,300. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $327.31, for a total value of $5,258,562.46. Following the completion of the sale, the chief executive officer directly owned 191,202 shares in the company, valued at approximately $62,582,326.62. This represents a 7.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,674 shares of company stock valued at $9,669,838 in the last quarter. Insiders own 1.00% of the company’s stock.

Watts Water Technologies Price Performance

NYSE WTS opened at $300.74 on Thursday. Watts Water Technologies, Inc. has a fifty-two week low of $201.21 and a fifty-two week high of $345.17. The stock’s 50-day moving average is $307.15 and its two-hundred day moving average is $291.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49. The firm has a market cap of $10.03 billion, a P/E ratio of 29.57, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.26. The company had revenue of $625.10 million for the quarter, compared to analyst estimates of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. On average, analysts anticipate that Watts Water Technologies, Inc. will post 11.62 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.52 dividend. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, February 27th. Watts Water Technologies’s dividend payout ratio (DPR) is currently 20.45%.

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.