Erste Asset Management GmbH Reduces Holdings in Watts Water Technologies, Inc. $WTS

Key Points

• Erste Asset Management GmbH reduced its position in Watts Water Technologies by 1.9%, holding 48,999 shares valued at approximately $10 million as of the latest report.
• Institutional ownership for Watts Water Technologies is high at 95.02%, with several firms increasing their stakes, including Kayne Anderson Rudnick Investment Management, which raised its position by 18.6%.
• Watts Water Technologies reported earnings of $3.09 EPS for the last quarter, exceeding estimates and reflecting a 7.8% increase in revenue year-over-year.

Erste Asset Management GmbH decreased its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 1.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,999 shares of the technology company's stock after selling 963 shares during the period. Erste Asset Management GmbH owned about 0.15% of Watts Water Technologies worth $9,995,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Mackenzie Financial Corp grew its holdings in Watts Water Technologies by 2.0% in the first 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% in the first quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock worth $46,000 after purchasing an additional 82 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in Watts Water Technologies by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 3,207 shares of the technology company's stock worth $653,000 after purchasing an additional 85 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Watts Water Technologies by 45.0% during the first quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock valued at $60,000 after buying an additional 91 shares during the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of Watts Water Technologies by 1.5% during the first quarter. State of Michigan Retirement System now owns 6,595 shares of the technology company's stock valued at $1,345,000 after buying an additional 100 shares during the last quarter. Institutional investors own 95.02% of the company's stock.

Insider Activity

In related news, Director Joseph T. Noonan sold 713 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the sale, the director owned 1,194 shares of the company's stock, valued at approximately $327,693.30. This represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Timothy P. Horne sold 7,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $241.85, for a total transaction of $1,692,950.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Watts Water Technologies Price Performance

Shares of WTS traded up $1.33 during mid-day trading on Tuesday, hitting $282.35. 42,669 shares of the company were exchanged, compared to its average volume of 199,859. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $283.52. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. The company has a 50 day moving average of $257.11 and a 200-day moving average of $231.25. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 3.39 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.41. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The company had revenue of $643.70 million during the quarter, compared to analysts' expectations of $612.15 million. During the same quarter in the prior year, the company earned $2.46 EPS. Watts Water Technologies's revenue was up 7.8% compared to the same quarter last year. Analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 29th. Watts Water Technologies's dividend payout ratio is currently 22.37%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in 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 reaffirmed a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Wall Street Zen raised shares of Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus upped their price objective on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $245.50.

Watts Water Technologies Company 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.