BNP Paribas Financial Markets Reduces Position in Watts Water Technologies, Inc. (NYSE:WTS)

BNP Paribas Financial Markets trimmed its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 22.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 27,196 shares of the technology company’s stock after selling 7,973 shares during the period. BNP Paribas Financial Markets’ holdings in Watts Water Technologies were worth $5,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTS. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Watts Water Technologies by 1.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,050,215 shares of the technology company’s stock worth $375,948,000 after acquiring an additional 29,473 shares during the period. Mirova US LLC lifted its holdings in shares of Watts Water Technologies by 2.2% in the second quarter. Mirova US LLC now owns 715,674 shares of the technology company’s stock valued at $131,233,000 after purchasing an additional 15,462 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Watts Water Technologies by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 587,538 shares of the technology company’s stock worth $107,738,000 after buying an additional 6,742 shares in the last quarter. Boston Trust Walden Corp boosted its stake in shares of Watts Water Technologies by 60.3% during the 3rd quarter. Boston Trust Walden Corp now owns 520,189 shares of the technology company’s stock worth $107,778,000 after purchasing an additional 195,778 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Watts Water Technologies by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 316,407 shares of the technology company’s stock worth $65,556,000 after acquiring an additional 9,148 shares during the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Trading Down 0.5 %

Shares of WTS opened at $213.90 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55. Watts Water Technologies, Inc. has a 12 month low of $175.37 and a 12 month high of $221.19. The stock has a market cap of $7.13 billion, a PE ratio of 25.65, a P/E/G ratio of 3.07 and a beta of 0.92. The stock’s 50-day moving average is $206.51 and its two-hundred day moving average is $197.68.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) 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 firm had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.83 million. During the same period in the prior year, the company posted $2.04 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Watts Water Technologies, Inc. will post 8.75 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.43 per share. 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 presently 20.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Northcoast Research raised shares of 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. StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Stifel Nicolaus dropped their price objective on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Robert W. Baird lowered their price target 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $200.25.

Insider Buying and Selling at Watts Water Technologies

In related news, General Counsel Kenneth Robert Lepage sold 3,429 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $194.65, for a total value of $667,454.85. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Monica Barry sold 1,559 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $212.52, for a total transaction of $331,318.68. Following the completion of the sale, the insider now directly owns 4,430 shares of the company’s stock, valued at $941,463.60. The trade was a 26.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,974 shares of company stock worth $6,924,594 over the last ninety days. Company insiders own 1.10% of the company’s stock.

About Watts Water Technologies

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.