Watts Water Technologies, Inc. $WTS Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its stake in Watts Water Technologies by 51.7% in the fourth quarter, though institutional investors still own the vast majority of the company at 95.02%.
• Watts Water Technologies reported strong quarterly earnings, with EPS of $3.04 and revenue of $677.3 million, both ahead of analyst expectations. Revenue also rose 21.4% year over year.
• The company announced a quarterly dividend of $0.63 per share, payable June 15, and analysts currently have an average Hold rating with a $330.11 price target.

UBS Group AG cut its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 51.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,774 shares of the technology company's stock after selling 104,476 shares during the quarter. UBS Group AG owned 0.29% of Watts Water Technologies worth $26,988,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wexford Capital LP acquired a new stake in Watts Water Technologies during the 3rd quarter worth approximately $26,000. Advisory Services Network LLC acquired a new stake in Watts Water Technologies during the 3rd quarter worth approximately $29,000. Stance Capital LLC acquired a new stake in Watts Water Technologies during the 3rd quarter worth approximately $62,000. Allworth Financial LP lifted its holdings in Watts Water Technologies by 29.7% during the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company's stock worth $71,000 after buying an additional 58 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Watts Water Technologies by 144.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 291 shares of the technology company's stock worth $81,000 after buying an additional 172 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 7,500 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $330.04, for a total value of $2,475,300.00. Following the transaction, the insider directly owned 7,500 shares of the company's stock, valued at $2,475,300. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Elie Melhem sold 379 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $300.03, for a total transaction of $113,711.37. Following the completion of the transaction, the insider directly owned 11,592 shares in the company, valued at $3,477,947.76. This trade represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 29,674 shares of company stock worth $9,669,838. Insiders own 1.00% of the company's stock.

Watts Water Technologies Trading Up 0.0%

NYSE WTS opened at $296.98 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The firm's fifty day moving average price is $301.64 and its 200 day moving average price is $292.71. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 2.69 and a beta of 1.20. Watts Water Technologies, Inc. has a 12 month low of $230.47 and a 12 month high of $345.17.

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, beating analysts' consensus estimates of $2.72 by $0.32. The firm had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company's revenue was up 21.4% on a year-over-year basis. During the same period last year, the firm posted $2.37 EPS. On average, sell-side analysts expect that Watts Water Technologies, Inc. will post 11.66 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Watts Water Technologies's dividend payout ratio (DPR) is 19.03%.

Analysts Set New Price Targets

WTS has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $358.00 price objective on shares of Watts Water Technologies in a report on Friday. Zacks Research lowered shares of Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, February 27th. HSBC initiated coverage on shares of Watts Water Technologies in a report on Tuesday, January 27th. They issued a "buy" rating on the stock. Finally, The Goldman Sachs Group raised their price objective on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a "neutral" rating in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $330.11.

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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