Amundi Sells 6,916 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• Amundi reduced its Watts Water Technologies stake by 4.2%, selling 6,916 shares and retaining 156,696 shares valued at approximately $45.5 million. Institutional investors collectively own 95.02% of the company.
• Watts Water Technologies reported strong quarterly results, with earnings of $3.04 per share versus the $2.72 consensus estimate and revenue of $677.3 million, up 21.4% year over year.
• Analysts maintain a consensus “Hold” rating with a $345.30 price target, roughly in line with the stock’s reported $346.06 price; recent targets range from $320 to $403.

Amundi lessened its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 4.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,696 shares of the technology company's stock after selling 6,916 shares during the period. Amundi owned 0.47% of Watts Water Technologies worth $45,487,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Watts Water Technologies during the fourth quarter worth about $100,627,000. AQR Capital Management LLC boosted its holdings in Watts Water Technologies by 148.3% in the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company's stock valued at $68,276,000 after purchasing an additional 165,837 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in Watts Water Technologies by 20,071.4% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company's stock worth $40,989,000 after buying an additional 140,500 shares in the last quarter. UBS Group AG increased its position in shares of Watts Water Technologies by 223.0% in the third quarter. UBS Group AG now owns 202,250 shares of the technology company's stock worth $56,484,000 after purchasing an additional 139,637 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Watts Water Technologies by 79.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company's stock worth $78,067,000 after acquiring an additional 125,218 shares during the period. Institutional investors and hedge funds own 95.02% of the company's stock.

Insider Activity at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the sale, the director owned 1,814 shares of the company's stock, valued at $561,668.82. This trade represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Elie Melhem sold 2,257 shares of the firm's stock in a transaction 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 owned 8,963 shares in the company, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company's stock.

Watts Water Technologies Trading Up 0.1%

NYSE:WTS opened at $346.06 on Monday. The firm has a market capitalization of $11.56 billion, a P/E ratio of 31.66, a P/E/G ratio of 2.99 and a beta of 1.15. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average of $340.34 and a 200 day moving average of $316.86. Watts Water Technologies, Inc. has a 52 week low of $251.17 and a 52 week high of $394.54.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping analysts' consensus estimates of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. During the same period last year, the company earned $2.37 EPS. The business's quarterly revenue was up 21.4% compared to the same quarter last year. On average, research analysts predict that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on WTS. TD Cowen increased their target price on Watts Water Technologies from $275.00 to $320.00 and gave the company a "hold" rating in a research report on Thursday, July 2nd. KeyCorp boosted their price target on shares of Watts Water Technologies from $360.00 to $380.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Stifel Nicolaus raised their price objective on Watts Water Technologies from $379.00 to $403.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Royal Bank Of Canada increased their price target on Watts Water Technologies from $323.00 to $350.00 and gave the company a "sector perform" rating in a research report on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $358.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Watts Water Technologies currently has a consensus rating of "Hold" and a consensus price target of $345.30.

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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