4,130 Watts Water Technologies, Inc. $WTS Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors reduced its Watts Water Technologies stake by 13.2%, selling 4,130 shares in the third quarter; it retained 27,097 shares valued at about $9.6 million. Institutional investors and hedge funds own 95.02% of the stock.
• Watts reported quarterly earnings of $3.40 per share, beating estimates of $3.14, while revenue of $728 million exceeded forecasts and rose 19% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $369.80. The company also declared a quarterly dividend of $0.63 per share, equivalent to a 0.7% yield.

Alps Advisors Inc. cut its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 13.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,097 shares of the technology company's stock after selling 4,130 shares during the quarter. Alps Advisors Inc. owned approximately 0.08% of Watts Water Technologies worth $9,597,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. First Trust Advisors LP boosted its stake in shares of Watts Water Technologies by 6.7% during the 1st quarter. First Trust Advisors LP now owns 545,404 shares of the technology company's stock worth $158,325,000 after acquiring an additional 34,381 shares during the period. Lazard Asset Management LLC lifted its holdings in Watts Water Technologies by 79.8% during the 1st quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company's stock valued at $63,525,000 after purchasing an additional 97,115 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Watts Water Technologies by 8,421.5% during the 2nd quarter. Squarepoint Ops LLC now owns 104,815 shares of the technology company's stock valued at $41,030,000 after purchasing an additional 103,585 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Watts Water Technologies by 20,071.4% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company's stock valued at $40,989,000 after purchasing an additional 140,500 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Watts Water Technologies by 58.7% during the first quarter. Renaissance Technologies LLC now owns 135,140 shares of the technology company's stock worth $39,230,000 after purchasing an additional 49,960 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WTS has been the subject of several research analyst reports. Stifel Nicolaus set a $445.00 target price on shares of Watts Water Technologies in a report on Monday, October 19th. Barclays decreased their price target on shares of Watts Water Technologies from $425.00 to $424.00 and set an "overweight" rating on the stock in a research note on Friday. Weiss Ratings raised shares of Watts Water Technologies from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Watts Water Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Robert W. Baird set a $405.00 price objective on shares of Watts Water Technologies in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $369.80.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $346.79 on Friday. The firm has a 50 day moving average of $355.42 and a 200-day moving average of $332.55. The stock has a market capitalization of $11.58 billion, a PE ratio of 26.00, a PEG ratio of 3.36 and a beta of 1.13. The company has a current ratio of 2.80, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04. Watts Water Technologies, Inc. has a 12 month low of $262.64 and a 12 month high of $394.54.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The technology company reported $3.40 EPS for the quarter, topping analysts' consensus estimates of $3.14 by $0.26. The company had revenue of $728.00 million during the quarter, compared to analysts' expectations of $692.57 million. Watts Water Technologies had a return on equity of 19.75% and a net margin of 16.00%. Watts Water Technologies's revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 EPS. On average, equities research analysts predict that Watts Water Technologies, Inc. will post 12.87 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies's payout ratio is currently 18.89%.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph Noonan sold 3,650 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Elie Melhem sold 1,096 shares of the company's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the completion of the sale, the insider owned 7,867 shares in the company, valued at $2,828,579.85. The trade was a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company's stock.

About Watts Water Technologies

Watts Water Technologies, Inc designs and manufactures products that help control the safety, flow, and quality of water in plumbing, heating, and water-treatment systems. Its products serve residential, commercial, and industrial applications.

The company's offerings include backflow preventers, valves, water pressure regulators, drainage products, water-quality and treatment systems, and controls for heating and hot-water applications. It also provides solutions for water reuse and other water-management needs.

Founded in 1874 by Joseph Watts, the company traces its origins to the development of a water pressure regulator.

Want to see what other hedge funds are holding WTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watts Water Technologies, Inc. (NYSE:WTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.