Watts Water Technologies, Inc. $WTS Position Decreased by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK cut its Watts Water Technologies position by 54.3% in the third quarter, selling 51,727 shares and ending the period with 43,504 shares valued at about $15.4 million.
• Watts reported quarterly earnings of $3.40 per share, above the $3.14 analyst consensus, while revenue rose 19% year over year to $728 million.
• The company declared a quarterly dividend of $0.63 per share, equivalent to $2.52 annually and a 0.7% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $368.30.

AEGON ASSET MANAGEMENT UK Plc trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 54.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,504 shares of the technology company's stock after selling 51,727 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned 0.13% of Watts Water Technologies worth $15,408,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WTS. Tidal Investments LLC boosted its holdings in Watts Water Technologies by 18.7% during the 2nd quarter. Tidal Investments LLC now owns 30,668 shares of the technology company's stock valued at $12,005,000 after acquiring an additional 4,832 shares during the period. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Watts Water Technologies in the 3rd quarter valued at about $1,576,000. Candriam S.C.A. increased its stake in Watts Water Technologies by 26.6% during the first quarter. Candriam S.C.A. now owns 34,579 shares of the technology company's stock worth $10,038,000 after purchasing an additional 7,256 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Watts Water Technologies during the second quarter worth about $3,496,000. Finally, Lazard Asset Management LLC increased its stake in Watts Water Technologies by 79.8% during the first quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company's stock worth $63,525,000 after purchasing an additional 97,115 shares during the period. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Performance

Shares of WTS opened at $360.56 on Tuesday. The firm has a market cap of $12.04 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 3.43 and a beta of 1.13. The company's 50 day simple moving average is $355.32 and its 200-day simple moving average is $332.85. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. Watts Water Technologies, Inc. has a 12-month low of $262.96 and a 12-month high of $394.54.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The technology company reported $3.40 EPS for the quarter, beating analysts' consensus estimates of $3.14 by $0.26. Watts Water Technologies had a net margin of 16.00% and a return on equity of 20.26%. The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $692.57 million. During the same period in the previous year, the business posted $2.50 earnings per share. Watts Water Technologies's quarterly revenue was up 19.0% on a year-over-year basis. As a group, equities analysts predict that Watts Water Technologies, Inc. will post 12.87 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies's dividend payout ratio (DPR) is currently 18.89%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WTS. Weiss Ratings upgraded Watts Water Technologies from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, October 8th. The Goldman Sachs Group reissued a "neutral" rating and set a $374.00 target price on shares of Watts Water Technologies in a research note on Friday, August 7th. Robert W. Baird set a $405.00 price target on Watts Water Technologies in a report on Friday, August 7th. Royal Bank Of Canada cut their price target on Watts Water Technologies from $417.00 to $397.00 and set a "sector perform" rating on the stock in a report on Friday. Finally, Stifel Nicolaus set a $430.00 price target on Watts Water Technologies in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Watts Water Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $368.30.

Insider Transactions at Watts Water Technologies

In other news, insider Elie Melhem sold 1,096 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the transaction, the insider owned 7,867 shares of the company's stock, valued at approximately $2,828,579.85. The trade was a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Noonan sold 3,650 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The SEC filing for this sale provides additional information. Company insiders own 1.00% of the company's stock.

About Watts Water Technologies

Watts Water Technologies, Inc designs and manufactures products that help control the safety, flow, and quality of water in plumbing, heating, and water-treatment systems. Its products serve residential, commercial, and industrial applications.

The company's offerings include backflow preventers, valves, water pressure regulators, drainage products, water-quality and treatment systems, and controls for heating and hot-water applications. It also provides solutions for water reuse and other water-management needs.

Founded in 1874 by Joseph Watts, the company traces its origins to the development of a water pressure regulator.

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