Watts Water Technologies, Inc. $WTS Stock Position Reduced by Burney Co.

Key Points

• Burney Co. reduced its position in Watts Water by 21.2% in Q4, selling 14,376 shares and now holding 53,324 shares (~$14.72M); institutional investors own 95.02% of the stock and insiders sold about 29,674 shares (~$9.67M) last quarter.
• Earnings, valuation and payout: Watts beat Q earnings (EPS $2.62 vs. $2.36 est.) with revenue up 15.7% to $625.1M, trades around $303 with a $10.1B market cap and P/E ~29.8, pays a monthly dividend (~2.1% yield), and carries an analyst consensus of "Hold" with a $334.11 target.

Burney Co. lessened its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,324 shares of the technology company's stock after selling 14,376 shares during the period. Burney Co. owned about 0.16% of Watts Water Technologies worth $14,718,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wexford Capital LP bought a new position in Watts Water Technologies during the 3rd quarter worth approximately $26,000. Advisory Services Network LLC acquired a new stake in shares of Watts Water Technologies during the 3rd quarter worth approximately $29,000. Stance Capital LLC acquired a new stake in shares of Watts Water Technologies during the 3rd quarter worth approximately $62,000. Allworth Financial LP raised its position in shares of 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 purchasing an additional 58 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Watts Water Technologies by 31.6% during the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company's stock worth $72,000 after purchasing an additional 62 shares during the period. Institutional investors own 95.02% of the company's stock.

Watts Water Technologies Stock Down 0.4%

WTS opened at $302.91 on Friday. Watts Water Technologies, Inc. has a 12 month low of $189.29 and a 12 month high of $345.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49. The stock has a market cap of $10.10 billion, a P/E ratio of 29.78, a P/E/G ratio of 2.75 and a beta of 1.27. The stock's 50 day moving average price is $308.70 and its 200 day moving average price is $289.85.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The firm had revenue of $625.10 million for the quarter, compared to analysts' expectations of $610.40 million. During the same period last year, the firm earned $2.05 EPS. The firm's revenue was up 15.7% compared to the same quarter last year. As a group, research analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WTS shares. Robert W. Baird set a $361.00 price target on Watts Water Technologies in a research report on Friday, February 13th. HSBC started coverage on Watts Water Technologies in a research report on Tuesday, January 27th. They set a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $339.00 price target on shares of Watts Water Technologies in a research report on Friday, February 13th. Stifel Nicolaus increased their price target on Watts Water Technologies from $320.00 to $389.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. Finally, Wall Street Zen cut Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $334.11.

Insider Transactions at Watts Water Technologies

In related news, General Counsel Kenneth Robert Lepage sold 5,025 shares of the firm's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total value of $1,613,427.00. Following the sale, the general counsel directly owned 12,284 shares in the company, valued at $3,944,146.72. This trade represents a 29.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elie Melhem sold 372 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $292.13, for a total value of $108,672.36. Following the completion of the sale, the insider owned 11,220 shares in the company, valued at approximately $3,277,698.60. This represents a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,674 shares of company stock worth $9,669,838 over the last quarter. Insiders own 1.00% of the company's stock.

Watts Water Technologies 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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