Watts Water Technologies, Inc. $WTS Shares Sold by Robeco Schweiz AG

Key Points

• Robeco Schweiz AG cut its Watts Water Technologies stake by 28.3% in the third quarter, selling 24,119 shares and retaining 60,995 shares worth approximately $21.6 million. Institutional investors collectively own 95.02% of the company.
• Watts Water Technologies reported quarterly EPS of $3.66, exceeding estimates of $3.34, while revenue rose 18.6% year over year to $763.2 million. Analysts expect full-year EPS of approximately $12.87.
• The stock opened at $358.86, with a market capitalization of about $12.0 billion and a 0.7% dividend yield. Wall Street’s consensus rating is “Moderate Buy”, with an average price target of $371.90.

Robeco Schweiz AG lowered its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 28.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,995 shares of the technology company's stock after selling 24,119 shares during the period. Robeco Schweiz AG owned 0.18% of Watts Water Technologies worth $21,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of WTS. Signaturefd LLC lifted its stake in Watts Water Technologies by 48.4% in the 3rd quarter. Signaturefd LLC now owns 429 shares of the technology company's stock worth $152,000 after purchasing an additional 140 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of Watts Water Technologies during the third quarter valued at about $444,000. Simplicity Wealth LLC purchased a new position in shares of Watts Water Technologies during the third quarter valued at about $363,000. RWC Asset Management LLP grew its position in shares of Watts Water Technologies by 3.4% during the third quarter. RWC Asset Management LLP now owns 2,309 shares of the technology company's stock valued at $818,000 after purchasing an additional 77 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in shares of Watts Water Technologies by 10.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 1,814 shares of the technology company's stock worth $642,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company's stock.

Watts Water Technologies Stock Up 0.5%

Shares of NYSE:WTS opened at $358.86 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. The business has a 50 day simple moving average of $359.54 and a two-hundred day simple moving average of $340.11. Watts Water Technologies, Inc. has a 1 year low of $260.00 and a 1 year high of $394.54. The firm has a market capitalization of $11.98 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 3.49 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.32. The firm had revenue of $763.20 million during the quarter, compared to analyst estimates of $725.99 million. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business's revenue was up 18.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.09 earnings per share. On average, equities analysts predict that Watts Water Technologies, Inc. will post 12.87 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 1st. Watts Water Technologies's dividend payout ratio (DPR) is presently 22.01%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WTS. The Goldman Sachs Group reiterated a "neutral" rating and issued a $374.00 target price on shares of Watts Water Technologies in a research report on Friday, August 7th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $417.00 price objective on shares of Watts Water Technologies in a report on Wednesday, October 14th. Robert W. Baird set a $405.00 target price on Watts Water Technologies in a research report on Friday, August 7th. Wall Street Zen downgraded Watts Water Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, October 17th. Finally, Stifel Nicolaus set a $445.00 target price on shares of Watts Water Technologies in a report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies has a consensus rating of "Moderate Buy" and an average price target of $371.90.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph T. Noonan sold 3,650 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elie Melhem sold 1,096 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the sale, the insider directly owned 7,867 shares in the company, valued at $2,828,579.85. This trade represents a 12.23% decrease in their position. 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, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company's offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.