AE Wealth Management LLC Has $47.25 Million Stake in Watts Water Technologies, Inc. $WTS

Key Points

• AE Wealth Management LLC boosted its position in Watts Water Technologies by 23.8% to 171,194 shares, worth about $47.25 million (roughly 0.51% ownership).
• Insiders have been selling: Timothy P. Horne sold 7,500 shares (a 50% reduction) and General Counsel Kenneth R. Lepage sold 5,025 shares, with insiders disposing of 29,674 shares (~$9.67 million) over the past 90 days; insiders now own 1% of the stock.
• Company performance and market view: Watts beat quarterly estimates (EPS $2.62 vs $2.36; revenue $625.1M vs $610.4M), recently paid a monthly dividend, and holds a consensus analyst rating of "Hold" with a $331.67 target.

AE Wealth Management LLC raised its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 23.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,194 shares of the technology company's stock after buying an additional 32,901 shares during the quarter. AE Wealth Management LLC owned 0.51% of Watts Water Technologies worth $47,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in WTS. Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Watts Water Technologies in the third quarter worth about $6,444,000. Allianz Asset Management GmbH increased its holdings in shares of Watts Water Technologies by 17.7% in the third quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company's stock worth $50,375,000 after acquiring an additional 27,093 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Watts Water Technologies in the third quarter worth about $6,308,000. Clark Capital Management Group Inc. increased its holdings in shares of Watts Water Technologies by 17.4% in the third quarter. Clark Capital Management Group Inc. now owns 27,985 shares of the technology company's stock worth $7,816,000 after acquiring an additional 4,140 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Watts Water Technologies by 80.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,978 shares of the technology company's stock worth $1,949,000 after acquiring an additional 3,101 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 7,500 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 7,500 shares in the company, valued at $2,475,300. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total value of $1,613,427.00. Following the completion of the sale, the general counsel directly owned 12,284 shares of the company's stock, valued at approximately $3,944,146.72. The trade was a 29.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 29,674 shares of company stock valued at $9,669,838. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WTS shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $339.00 price target on shares of Watts Water Technologies in a report on Friday, February 13th. HSBC started coverage on Watts Water Technologies in a report on Tuesday, January 27th. They issued a "buy" rating for the company. The Goldman Sachs Group increased their price target on Watts Water Technologies from $267.00 to $323.00 and gave the stock a "neutral" rating in a report on Friday, February 13th. Wells Fargo & Company set a $275.00 price objective on Watts Water Technologies in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Watts Water Technologies in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $331.67.

Watts Water Technologies Stock Down 1.3%

WTS stock opened at $299.79 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $308.63 and a two-hundred day moving average price of $290.56. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 2.76 and a beta of 1.27. Watts Water Technologies, Inc. has a twelve month low of $191.20 and a twelve month high of $345.17.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.26. The firm had revenue of $625.10 million during the quarter, compared to the consensus estimate 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. Analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.52 dividend. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date 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.

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