Vaughan Nelson Investment Management L.P. Sells 5,080 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• Vaughan Nelson Investment Management reduced its position in Watts Water Technologies by 4.8%, selling 5,080 shares and leaving it with 101,260 shares valued at about $27.95 million, while institutional investors collectively own roughly 95.02% of the stock.
• Watts beat expectations for the quarter with $2.62 EPS (vs. $2.36 expected) and revenue of $625.1 million (up 15.7% year-over-year), and recently paid a monthly dividend of $0.52 (annual yield ~2.1%).
• Company insiders have been net sellers recently: the CEO sold 16,066 shares and the general counsel sold 5,025 shares, with insiders offloading 29,674 shares worth about $9.67 million over the last 90 days (insider ownership ~1.10%).

Vaughan Nelson Investment Management L.P. decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,260 shares of the technology company's stock after selling 5,080 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.30% of Watts Water Technologies worth $27,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its stake in shares of Watts Water Technologies by 10.2% in the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company's stock valued at $385,000 after buying an additional 174 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Watts Water Technologies by 80.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company's stock worth $222,000 after acquiring an additional 445 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company's stock valued at $20,163,000 after purchasing an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Watts Water Technologies during the 2nd quarter valued at about $219,000. Finally, Cetera Investment Advisers increased its holdings in Watts Water Technologies by 43.2% during the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company's stock worth $426,000 after purchasing an additional 523 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Stock Up 2.4%

WTS stock opened at $290.59 on Wednesday. The stock's fifty day simple moving average is $309.37 and its two-hundred day simple moving average is $289.16. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $345.17. The stock has a market cap of $9.69 billion, a P/E ratio of 28.57, a P/E/G ratio of 2.58 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.26. The firm had revenue of $625.10 million during the quarter, compared to analyst estimates of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business's revenue was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $2.05 EPS. Analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a $0.52 dividend. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, February 27th. Watts Water Technologies's payout ratio is presently 20.45%.

Insider Activity

In related news, General Counsel Kenneth Robert Lepage sold 5,025 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total value of $1,613,427.00. Following the sale, the general counsel directly owned 12,284 shares in the company, valued at approximately $3,944,146.72. The trade was a 29.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the transaction, the chief executive officer owned 191,202 shares of the company's stock, valued at $62,582,326.62. This represents a 7.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 29,674 shares of company stock worth $9,669,838. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WTS. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $339.00 target price on shares of Watts Water Technologies in a research report on Friday, February 13th. Weiss Ratings restated a "buy (b)" rating on shares of Watts Water Technologies in a research note on Monday, December 29th. Stifel Nicolaus lifted their price objective on shares of Watts Water Technologies from $320.00 to $389.00 and gave the stock a "buy" rating in a report on Friday, February 13th. KeyCorp upped their target price on shares of Watts Water Technologies from $340.00 to $360.00 and gave the stock an "overweight" rating in a research note on Thursday, February 12th. Finally, Wells Fargo & Company set a $275.00 target price on shares of Watts Water Technologies in a report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $334.11.

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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