Advisors Asset Management Inc. Sells 2,868 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• Advisors Asset Management Inc. has reduced its stake in Watts Water Technologies, Inc. by 32.6%, resulting in ownership of 5,942 shares valued at approximately $1.21 million.
• The company recently announced a quarterly dividend of $0.52 per share, with an annualized yield of 0.7%.
• Watts Water Technologies' stock has received mixed ratings from analysts, with a consensus rating of "Hold" and an average target price of $245.50.

Advisors Asset Management Inc. decreased its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,942 shares of the technology company's stock after selling 2,868 shares during the quarter. Advisors Asset Management Inc.'s holdings in Watts Water Technologies were worth $1,212,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in shares of Watts Water Technologies by 2.0% in the 1st quarter. Mackenzie Financial Corp now owns 4,172 shares of the technology company's stock worth $851,000 after purchasing an additional 80 shares during the last quarter. Versant Capital Management Inc grew its holdings in Watts Water Technologies by 57.3% during the 1st quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock worth $46,000 after acquiring an additional 82 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Watts Water Technologies by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 3,207 shares of the technology company's stock worth $653,000 after acquiring an additional 85 shares during the last quarter. Parallel Advisors LLC grew its holdings in Watts Water Technologies by 45.0% during the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock worth $60,000 after acquiring an additional 91 shares during the last quarter. Finally, State of Michigan Retirement System grew its holdings in Watts Water Technologies by 1.5% during the 1st quarter. State of Michigan Retirement System now owns 6,595 shares of the technology company's stock worth $1,345,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 95.02% of the company's stock.

Insider Buying and Selling at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 713 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the sale, the director directly owned 1,194 shares in the company, valued at $327,693.30. This trade represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Watts Water Technologies Trading Down 0.8%

Watts Water Technologies stock traded down $2.18 during trading hours on Friday, reaching $281.55. 105,654 shares of the company's stock traded hands, compared to its average volume of 163,245. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $285.90. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 3.40 and a beta of 1.11. The firm's 50 day moving average is $266.48 and its 200-day moving average is $237.32.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.41. The business had revenue of $643.70 million for the quarter, compared to the consensus estimate of $612.15 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. Watts Water Technologies's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. On average, analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 29th. Watts Water Technologies's dividend payout ratio (DPR) is currently 22.37%.

Analysts Set New Price Targets

A number of brokerages have commented on WTS. Northcoast Research lowered shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Wall Street Zen lowered shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Finally, Stifel Nicolaus increased their price objective on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Watts Water Technologies currently has an average rating of "Hold" and a consensus target price of $245.50.

Watts Water Technologies Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.