Jupiter Asset Management Ltd. Cuts Position in Watts Water Technologies, Inc. (NYSE:WTS)

Key Points

• Jupiter Asset Management Ltd. reduced its holdings in Watts Water Technologies by 2.7%, now owning 109,998 shares worth approximately $22.4 million.
• Watts Water Technologies recently announced a quarterly dividend increase to $0.52, up from the previous $0.43, reflecting a positive change for investors.
• Analysts maintain an average rating of "Hold" on Watts Water Technologies, with target prices ranging from $234.20 to $290.00.

Jupiter Asset Management Ltd. trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,998 shares of the technology company's stock after selling 3,047 shares during the period. Jupiter Asset Management Ltd. owned about 0.33% of Watts Water Technologies worth $22,431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Versant Capital Management Inc grew its stake in shares of Watts Water Technologies by 57.3% in the first quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock valued at $46,000 after buying an additional 82 shares in the last quarter. Headlands Technologies LLC lifted its position in Watts Water Technologies by 329.1% during the 4th quarter. Headlands Technologies LLC now owns 236 shares of the technology company's stock worth $48,000 after acquiring an additional 181 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Watts Water Technologies by 80.5% in the 1st quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock worth $57,000 after acquiring an additional 124 shares during the period. Parallel Advisors LLC grew its position in Watts Water Technologies by 45.0% in the first quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock valued at $60,000 after acquiring an additional 91 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Watts Water Technologies by 108.4% during the first quarter. UMB Bank n.a. now owns 323 shares of the technology company's stock valued at $66,000 after purchasing an additional 168 shares during the period. 95.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Watts Water Technologies

In other news, insider Monica Barry sold 768 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 6,236 shares in the company, valued at approximately $1,530,314.40. The trade was a 10.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Timothy P. Horne sold 7,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $241.85, for a total value of $1,692,950.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,768 shares of company stock worth $3,841,417. 1.00% of the stock is currently owned by corporate insiders.

Watts Water Technologies Stock Performance

Watts Water Technologies stock opened at $259.42 on Friday. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $263.07. The company has a current ratio of 2.46, a quick ratio of 1.53 and a debt-to-equity ratio of 0.11. The stock has a market cap of $8.66 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 3.69 and a beta of 1.13. The stock has a 50 day moving average of $247.72 and a 200-day moving average of $224.10.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.25. Watts Water Technologies had a net margin of 13.07% and a return on equity of 17.59%. The firm had revenue of $558.00 million for the quarter, compared to analysts' expectations of $547.58 million. During the same period in the prior year, the company posted $2.33 earnings per share. The firm's quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, May 30th. This is a positive change from Watts Water Technologies's previous quarterly dividend of $0.43. Watts Water Technologies's payout ratio is 23.83%.

Wall Street Analysts Forecast Growth

WTS has been the subject of several analyst reports. Stifel Nicolaus upped their target price on shares of Watts Water Technologies from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Northcoast Research lowered shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $234.20.

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.

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