Watts Water Technologies, Inc. (NYSE:WTS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 47.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,952 shares of the technology company's stock after selling 33,656 shares during the quarter. Envestnet Asset Management Inc. owned 0.11% of Watts Water Technologies worth $7,739,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC grew its position in Watts Water Technologies by 3.0% during the first quarter. OneDigital Investment Advisors LLC now owns 5,248 shares of the technology company's stock worth $1,070,000 after buying an additional 154 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Watts Water Technologies by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 78,159 shares of the technology company's stock valued at $15,938,000 after acquiring an additional 795 shares during the period. KBC Group NV boosted its holdings in Watts Water Technologies by 0.5% during the 1st quarter. KBC Group NV now owns 324,669 shares of the technology company's stock valued at $66,207,000 after acquiring an additional 1,662 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Watts Water Technologies by 0.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 112,230 shares of the technology company's stock valued at $23,136,000 after acquiring an additional 441 shares during the period. Finally, Diversified Trust Co boosted its holdings in Watts Water Technologies by 3.2% during the 1st quarter. Diversified Trust Co now owns 4,376 shares of the technology company's stock valued at $892,000 after acquiring an additional 136 shares during the period. 95.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WTS shares. Stifel Nicolaus increased their target price on Watts Water Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a report on Monday, July 21st. Northcoast Research lowered Watts Water Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, May 16th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $234.20.

Insider Transactions at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 7,000 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $241.85, for a total value of $1,692,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Monica Barry sold 768 shares of Watts Water Technologies stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $245.40, for a total value of $188,467.20. Following the completion of the transaction, the insider owned 6,236 shares of the company's stock, valued at approximately $1,530,314.40. This represents a 10.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,768 shares of company stock valued at $3,841,417. 1.00% of the stock is currently owned by insiders.

Watts Water Technologies Stock Up 0.3%

WTS traded up $0.66 during trading on Friday, hitting $252.63. 92,477 shares of the company's stock traded hands, compared to its average volume of 178,142. The company's 50 day simple moving average is $246.02 and its two-hundred day simple moving average is $222.13. The company has a current ratio of 2.46, a quick ratio of 1.53 and a debt-to-equity ratio of 0.11. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $260.93. The stock has a market capitalization of $8.43 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 3.61 and a beta of 1.12.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.25. Watts Water Technologies had a return on equity of 17.59% and a net margin of 13.07%. The firm had revenue of $558.00 million for the quarter, compared to the consensus estimate of $547.58 million. During the same period last year, the business posted $2.33 EPS. The company's revenue for the quarter was down 2.3% on a year-over-year basis. Analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.82%. This is a boost from Watts Water Technologies's previous quarterly dividend of $0.43. The ex-dividend date was Friday, May 30th. Watts Water Technologies's payout ratio is 23.83%.

About Watts Water Technologies

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.