Victory Capital Management Inc. Trims Position in Watts Water Technologies, Inc. $WTS

Key Points

• Victory Capital Management cut its position in Watts Water Technologies by 32.9% in Q3, selling 100,728 shares and now holding 205,058 shares valued at about $57.27 million (≈0.61% of the company).
• Watts reported quarterly EPS of $2.62 (beats consensus by $0.26) and revenue of $625.1M (up 15.7% YoY), and announced a monthly dividend of $0.52 (annualized yield ≈2.0%).
• Insiders have been net sellers—29,196 shares (~$9.5M) sold in the past 90 days, including a 50% reduction by major shareholder Timothy Horne—while institutional investors own roughly 95% of the stock.

Victory Capital Management Inc. decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 32.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,058 shares of the technology company's stock after selling 100,728 shares during the quarter. Victory Capital Management Inc. owned approximately 0.61% of Watts Water Technologies worth $57,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Journey Strategic Wealth LLC raised its stake in Watts Water Technologies by 4.3% during the third quarter. Journey Strategic Wealth LLC now owns 1,001 shares of the technology company's stock worth $280,000 after purchasing an additional 41 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Watts Water Technologies by 232.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 31,728 shares of the technology company's stock valued at $8,861,000 after buying an additional 22,184 shares during the period. US Bancorp DE grew its stake in shares of Watts Water Technologies by 1.4% in the 3rd quarter. US Bancorp DE now owns 4,646 shares of the technology company's stock valued at $1,298,000 after buying an additional 65 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Watts Water Technologies by 57.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company's stock worth $149,000 after buying an additional 196 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its holdings in shares of Watts Water Technologies by 0.4% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 15,543 shares of the technology company's stock worth $4,341,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company's stock.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 605 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total transaction of $167,451.90. Following the sale, the chief accounting officer directly owned 13,412 shares in the company, valued at $3,712,173.36. This represents a 4.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Timothy P. Horne sold 7,500 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the sale, the insider owned 7,500 shares in the company, valued at approximately $2,475,300. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 29,196 shares of company stock worth $9,514,741. 1.00% of the stock is currently owned by company insiders.

Watts Water Technologies Trading Down 2.3%

Shares of NYSE WTS opened at $306.11 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $10.21 billion, a PE ratio of 30.10, a PEG ratio of 2.85 and a beta of 1.23. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $345.17. The stock has a fifty day simple moving average of $305.63 and a 200-day simple moving average of $286.93.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.26. The firm had revenue of $625.10 million for 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%.Watts Water Technologies's revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. On average, equities analysts forecast that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 2.0%. Watts Water Technologies's dividend payout ratio (DPR) is presently 20.45%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Robert W. Baird set a $361.00 price objective on Watts Water Technologies in a report on Friday, February 13th. KeyCorp raised their target price on Watts Water Technologies from $340.00 to $360.00 and gave the stock an "overweight" rating in a research note on Thursday, February 12th. TD Cowen restated a "hold" rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Jefferies Financial Group began coverage on Watts Water Technologies in a research note on Friday, December 12th. They issued a "hold" rating and a $300.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $339.00 price target on shares of Watts Water Technologies in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $334.11.

Watts Water Technologies Company 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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