Voloridge Investment Management LLC Sells 21,849 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Voloridge Investment Management LLC trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 105,051 shares of the technology company's stock after selling 21,849 shares during the quarter. Voloridge Investment Management LLC owned 0.32% of Watts Water Technologies worth $21,357,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Watts Water Technologies by 18.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,463,375 shares of the technology company's stock valued at $500,804,000 after purchasing an additional 386,333 shares during the last quarter. Norges Bank acquired a new stake in shares of Watts Water Technologies during the fourth quarter worth $60,887,000. Champlain Investment Partners LLC lifted its holdings in shares of Watts Water Technologies by 85.1% during the fourth quarter. Champlain Investment Partners LLC now owns 422,026 shares of the technology company's stock worth $85,798,000 after buying an additional 194,033 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Watts Water Technologies during the fourth quarter worth $23,044,000. Finally, Wealthfront Advisers LLC acquired a new stake in shares of Watts Water Technologies during the fourth quarter worth $9,773,000. 95.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WTS shares. The Goldman Sachs Group lifted their target price on Watts Water Technologies from $197.00 to $217.00 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Northcoast Research downgraded Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Finally, Stifel Nicolaus raised Watts Water Technologies from a "hold" rating to a "buy" rating and boosted their price target for the company from $219.00 to $229.00 in a research note on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of "Hold" and a consensus price target of $222.00.

Insider Transactions at Watts Water Technologies

In other news, 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 transaction of $188,467.20. Following the completion of the sale, the insider now owns 6,236 shares in the company, valued at approximately $1,530,314.40. This trade represents a 10.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Shashank Patel sold 8,000 shares of Watts Water Technologies stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $245.00, for a total value of $1,960,000.00. Following the sale, the chief financial officer now owns 2,754 shares of the company's stock, valued at approximately $674,730. This trade represents a 74.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,165 shares of company stock worth $3,074,168 in the last ninety days. Company insiders own 1.00% of the company's stock.

Watts Water Technologies Price Performance

Watts Water Technologies stock traded down $2.54 during midday trading on Wednesday, reaching $241.69. The company's stock had a trading volume of 41,150 shares, compared to its average volume of 175,049. The stock has a market cap of $8.05 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 3.42 and a beta of 1.08. The company has a current ratio of 2.59, a quick ratio of 1.65 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $212.65 and a 200-day moving average price of $211.19. Watts Water Technologies, Inc. has a 52 week low of $175.37 and a 52 week high of $248.17.

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, topping analysts' consensus estimates of $2.12 by $0.25. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. 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 business earned $2.33 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.86%. This is a boost from Watts Water Technologies's previous quarterly dividend of $0.43. The ex-dividend date is Friday, May 30th. Watts Water Technologies's payout ratio is presently 23.83%.

Watts Water Technologies 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.