Watts Water Technologies, Inc. (NYSE:WTS) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,685 shares of the technology company's stock after selling 26,115 shares during the quarter. Bank of America Corp DE owned approximately 0.43% of Watts Water Technologies worth $29,415,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WTS. Kayne Anderson Rudnick Investment Management LLC boosted its position in Watts Water Technologies by 18.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,463,375 shares of the technology company's stock worth $500,804,000 after purchasing an additional 386,333 shares in the last quarter. Norges Bank purchased a new position in shares of Watts Water Technologies in the fourth quarter valued at approximately $60,887,000. Champlain Investment Partners LLC lifted its position in shares of Watts Water Technologies by 85.1% in the fourth quarter. Champlain Investment Partners LLC now owns 422,026 shares of the technology company's stock valued at $85,798,000 after acquiring an additional 194,033 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Watts Water Technologies in the fourth quarter valued at approximately $23,044,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of Watts Water Technologies in the fourth quarter valued at approximately $9,773,000. Hedge funds and other institutional investors own 95.02% of the company's stock.

Watts Water Technologies Price Performance

Shares of NYSE:WTS traded down $2.03 during midday trading on Friday, hitting $236.99. The company had a trading volume of 154,170 shares, compared to its average volume of 175,517. Watts Water Technologies, Inc. has a twelve month low of $175.37 and a twelve month high of $248.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The business's 50-day simple moving average is $211.50 and its 200-day simple moving average is $210.74.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.12 by $0.25. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. The firm had revenue of $558.00 million during the quarter, compared to analysts' expectations of $547.58 million. During the same quarter last year, the firm earned $2.33 earnings per share. The business's revenue for the quarter was down 2.3% on a year-over-year basis. On average, research analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, May 30th. This is a boost from Watts Water Technologies's previous quarterly dividend of $0.43. Watts Water Technologies's dividend payout ratio (DPR) is currently 23.83%.

Wall Street Analysts Forecast Growth

WTS has been the topic of several research reports. Stifel Nicolaus upgraded Watts Water Technologies from a "hold" rating to a "buy" rating and raised their target price for the company from $219.00 to $229.00 in a research report on Wednesday, April 16th. The Goldman Sachs Group raised their target price on Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Finally, Northcoast Research downgraded Watts Water Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $222.00.

Insider Activity at Watts Water Technologies

In related news, CFO Shashank Patel sold 8,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $245.00, for a total value of $1,960,000.00. Following the completion of the sale, the chief financial officer now owns 2,754 shares of the company's stock, valued at approximately $674,730. This trade represents a 74.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Elie Melhem sold 4,397 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total value of $925,700.41. Following the completion of the sale, the insider now directly owns 10,469 shares of the company's stock, valued at approximately $2,204,038.57. This represents a 29.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,165 shares of company stock valued at $3,074,168. 1.10% of the stock is currently owned by insiders.

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.