The Manufacturers Life Insurance Company Purchases 29,332 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

The Manufacturers Life Insurance Company raised its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 89.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 61,968 shares of the technology company’s stock after acquiring an additional 29,332 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Watts Water Technologies were worth $12,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. HWG Holdings LP bought a new position in Watts Water Technologies in the 2nd quarter worth about $28,000. V Square Quantitative Management LLC bought a new stake in Watts Water Technologies during the 3rd quarter worth approximately $30,000. Gradient Investments LLC purchased a new stake in Watts Water Technologies in the 2nd quarter worth approximately $31,000. Blue Trust Inc. boosted its holdings in Watts Water Technologies by 520.5% in the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock valued at $50,000 after purchasing an additional 229 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of Watts Water Technologies by 30.0% during the 2nd quarter. Fifth Third Bancorp now owns 338 shares of the technology company’s stock valued at $62,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insider Activity

In related news, General Counsel Kenneth Robert Lepage sold 3,429 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $194.65, for a total value of $667,454.85. Following the completion of the transaction, the general counsel now directly owns 14,064 shares in the company, valued at $2,737,557.60. This trade represents a 19.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 20,810 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $212.20, for a total transaction of $4,415,882.00. Following the sale, the chief executive officer now directly owns 176,045 shares in the company, valued at $37,356,749. The trade was a 10.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,974 shares of company stock valued at $6,924,594. Corporate insiders own 1.10% of the company’s stock.

Watts Water Technologies Stock Down 0.4 %

Shares of NYSE:WTS opened at $214.88 on Tuesday. The stock has a market capitalization of $7.16 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 3.08 and a beta of 0.92. Watts Water Technologies, Inc. has a 12-month low of $175.37 and a 12-month high of $221.19. The stock’s 50-day moving average price is $206.37 and its 200-day moving average price is $197.68. The company has a current ratio of 2.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.13.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. The business had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.83 million. During the same quarter in the prior year, the company posted $2.04 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Watts Water Technologies, Inc. will post 8.75 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, November 29th. Watts Water Technologies’s dividend payout ratio (DPR) is currently 20.62%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WTS shares. Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a research note on Monday, November 4th. Stifel Nicolaus decreased their price target on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, August 9th. StockNews.com upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Robert W. Baird dropped their target price on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $200.25.

Watts Water Technologies 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.