Watts Water Technologies, Inc. $WTS Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC cut its stake in Watts Water Technologies by 62.4% in the first quarter, selling 6,598 shares and leaving it with 3,981 shares valued at about $1.16 million.
• Watts Water Technologies reported better-than-expected quarterly earnings, with EPS of $3.04 versus estimates of $2.72 and revenue of $677.3 million, up 21.4% year over year.
• The company recently paid a quarterly dividend of $0.63 per share, which works out to an annualized yield of about 0.7%, while analysts currently rate the stock a consensus Hold with a $338.20 price target.

SG Americas Securities LLC trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 62.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,981 shares of the technology company's stock after selling 6,598 shares during the quarter. SG Americas Securities LLC's holdings in Watts Water Technologies were worth $1,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC grew its stake in shares of Watts Water Technologies by 10.2% during the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company's stock worth $385,000 after acquiring an additional 174 shares during the last quarter. Jones Financial Companies Lllp raised its position 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 valued at $222,000 after purchasing 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% in 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 worth $20,163,000 after purchasing an additional 7,537 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Watts Water Technologies during the 2nd quarter worth approximately $219,000. Finally, Cetera Investment Advisers grew its position 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 during the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Up 0.0%

Shares of WTS opened at $368.69 on Friday. Watts Water Technologies, Inc. has a 52 week low of $242.77 and a 52 week high of $394.54. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $12.31 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 3.24 and a beta of 1.14. The stock's 50-day moving average price is $320.71 and its 200-day moving average price is $307.40.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. During the same period last year, the company earned $2.37 earnings per share. Watts Water Technologies's revenue for the quarter was up 21.4% compared to the same quarter last year. On average, sell-side analysts predict that Watts Water Technologies, Inc. will post 12.03 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Watts Water Technologies's dividend payout ratio (DPR) is presently 23.06%.

Insider Activity at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the transaction, the director owned 1,814 shares in the company, valued at $561,668.82. This trade represents a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Elie Melhem sold 2,257 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the sale, the insider directly owned 8,963 shares of the company's stock, valued at approximately $2,697,863. The trade was a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings cut shares of Watts Water Technologies from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 11th. Stifel Nicolaus set a $379.00 target price on Watts Water Technologies in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $358.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. TD Cowen lifted their price target on Watts Water Technologies from $275.00 to $320.00 and gave the stock a "hold" rating in a research report on Thursday. Finally, Royal Bank Of Canada boosted their price target on Watts Water Technologies from $318.00 to $323.00 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $338.20.

About Watts Water Technologies

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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