Watts Water Technologies, Inc. $WTS Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank cut its stake in Watts Water Technologies by 11.9% in Q4 to 71,561 shares (0.21% ownership, roughly $19.75M), while institutional investors collectively own about 95.02% of the stock.
• Watts beat quarterly expectations with EPS of $2.62 (vs. $2.36 est.) and revenue of $625.1M (vs. $610.4M), with revenue up 15.7% year-over-year and a market cap near $10.03B.
• Insiders have been net sellers recently — about 29,674 shares sold (~$9.67M) over the last three months, including CEO Robert J. Pagano Jr.'s sale of 16,066 shares, leaving insiders with roughly 1% ownership.

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,561 shares of the technology company's stock after selling 9,645 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.21% of Watts Water Technologies worth $19,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WTS. Integrated Wealth Concepts LLC boosted its stake in Watts Water Technologies by 10.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company's stock valued at $385,000 after purchasing an additional 174 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Watts Water Technologies by 80.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company's stock worth $222,000 after acquiring an additional 445 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Watts Water Technologies by 8.3% during 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 acquiring an additional 7,537 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Watts Water Technologies during the 2nd quarter worth $219,000. Finally, Cetera Investment Advisers boosted its stake in shares of 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 acquiring an additional 523 shares in the last quarter. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Price Performance

WTS opened at $300.74 on Thursday. The stock has a fifty day moving average of $307.15 and a 200-day moving average of $291.17. The firm has a market capitalization of $10.03 billion, a P/E ratio of 29.57, a PEG ratio of 2.70 and a beta of 1.27. Watts Water Technologies, Inc. has a 12-month low of $201.21 and a 12-month high of $345.17. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.26. The company had revenue of $625.10 million during the quarter, compared to analyst estimates of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The company's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 earnings per share. Equities analysts forecast that Watts Water Technologies, Inc. will post 11.62 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a $0.52 dividend. The ex-dividend date was Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. Watts Water Technologies's dividend payout ratio is presently 20.45%.

Insider Buying and Selling

In other news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $327.31, for a total value of $5,258,562.46. Following the completion of the sale, the chief executive officer owned 191,202 shares in the company, valued at $62,582,326.62. This represents a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the insider owned 7,500 shares of the company's stock, valued at $2,475,300. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 29,674 shares of company stock valued at $9,669,838. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WTS. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $339.00 price objective on shares of Watts Water Technologies in a research note on Friday, February 13th. TD Cowen reissued a "hold" rating on shares of Watts Water Technologies in a research note on Thursday, January 8th. Barclays raised their price objective on Watts Water Technologies from $300.00 to $323.00 and gave the stock an "equal weight" rating in a research note on Friday, February 13th. Zacks Research lowered Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 27th. Finally, HSBC began coverage on Watts Water Technologies in a research note on Tuesday, January 27th. They set a "buy" rating for the company. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $331.67.

Watts Water Technologies Company Profile

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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