Pictet Asset Management Holding SA decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,863 shares of the technology company’s stock after selling 3,116 shares during the period. Pictet Asset Management Holding SA’s holdings in Watts Water Technologies were worth $5,476,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Wexford Capital LP acquired a new position in Watts Water Technologies during the third quarter valued at approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Watts Water Technologies in the 4th quarter valued at $28,000. Clearstead Advisors LLC increased its stake in shares of Watts Water Technologies by 69.4% in the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies in the 3rd quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Watts Water Technologies during the 4th quarter worth $29,000. 95.02% of the stock is owned by institutional investors.
Watts Water Technologies Trading Up 0.0%
WTS opened at $368.69 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. Watts Water Technologies, Inc. has a fifty-two week low of $242.77 and a fifty-two week high of $394.54. The company’s 50 day moving average price is $320.71 and its two-hundred day moving average price is $307.40. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 3.24 and a beta of 1.14.
Watts Water Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is currently 23.06%.
Insider Activity
In other news, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the transaction, the director directly owned 1,814 shares in the company, valued at $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
WTS has been the subject of several recent analyst reports. Stifel Nicolaus set a $379.00 price objective on Watts Water Technologies in a research report on Friday, May 8th. Royal Bank Of Canada boosted their target price on Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Weiss Ratings cut shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. TD Cowen raised their price target on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $338.20.
View Our Latest Stock Report on Watts Water Technologies
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.
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