Brevan Howard Capital Management LP Trims Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Brevan Howard Capital Management LP decreased its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 42.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,375 shares of the technology company's stock after selling 1,788 shares during the quarter. Brevan Howard Capital Management LP's holdings in Watts Water Technologies were worth $483,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WTS. Arizona State Retirement System boosted its stake in shares of Watts Water Technologies by 0.7% during the 4th quarter. Arizona State Retirement System now owns 7,950 shares of the technology company's stock worth $1,616,000 after acquiring an additional 56 shares during the last quarter. Andina Capital Management LLC raised its holdings in Watts Water Technologies by 3.5% in the 4th quarter. Andina Capital Management LLC now owns 1,708 shares of the technology company's stock worth $347,000 after purchasing an additional 58 shares during the period. UMB Bank n.a. lifted its position in Watts Water Technologies by 59.8% during the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company's stock valued at $32,000 after purchasing an additional 58 shares in the last quarter. Cerity Partners LLC grew its holdings in Watts Water Technologies by 0.5% during the fourth quarter. Cerity Partners LLC now owns 12,410 shares of the technology company's stock valued at $2,541,000 after purchasing an additional 58 shares during the period. Finally, Empowered Funds LLC increased its position in Watts Water Technologies by 3.8% in the fourth quarter. Empowered Funds LLC now owns 1,652 shares of the technology company's stock worth $336,000 after buying an additional 60 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Price Performance

Shares of NYSE:WTS traded down $2.67 during trading on Tuesday, hitting $243.21. 318,648 shares of the company's stock were exchanged, compared to its average volume of 172,839. The business's 50-day simple moving average is $206.13 and its 200 day simple moving average is $208.11. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $248.50. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 3.42 and a beta of 1.08.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its earnings results on Wednesday, May 7th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.12 by $0.25. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. The firm had revenue of $558.00 million for the quarter, compared to the consensus estimate of $547.58 million. During the same quarter in the previous year, the firm earned $2.33 earnings per share. The company's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.52 per share. This is a positive change from Watts Water Technologies's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.86%. Watts Water Technologies's dividend payout ratio (DPR) is presently 23.83%.

Insider Transactions at Watts Water Technologies

In related news, insider Elie Melhem sold 4,397 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total value of $925,700.41. Following the sale, the insider now owns 10,469 shares in the company, valued at approximately $2,204,038.57. The trade was a 29.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Shashank Patel sold 8,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $245.00, for a total transaction of $1,960,000.00. Following the transaction, the chief financial officer now owns 2,754 shares of the company's stock, valued at $674,730. This trade represents a 74.39% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on WTS. Stifel Nicolaus raised Watts Water Technologies from a "hold" rating to a "buy" rating and lifted their price objective for the company from $219.00 to $229.00 in a research report on Wednesday, April 16th. The Goldman Sachs Group lifted their price target on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Watts Water Technologies has an average rating of "Moderate Buy" and an average target price of $222.00.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.