Brown Brothers Harriman & Co. Sells 4,786 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Brown Brothers Harriman & Co. trimmed its position in Watts Water Technologies, Inc. (NYSE:WTS) by 48.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,000 shares of the technology company’s stock after selling 4,786 shares during the period. Brown Brothers Harriman & Co.’s holdings in Watts Water Technologies were worth $917,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of WTS. Private Advisor Group LLC bought a new position in shares of Watts Water Technologies during the 4th quarter valued at approximately $225,000. Principal Securities Inc. bought a new position in shares of Watts Water Technologies during the 4th quarter valued at approximately $56,000. Jump Financial LLC bought a new position in shares of Watts Water Technologies during the 4th quarter valued at approximately $307,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Watts Water Technologies during the 4th quarter valued at approximately $578,000. Finally, Principal Financial Group Inc. grew its position in shares of Watts Water Technologies by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 108,485 shares of the technology company’s stock valued at $22,602,000 after acquiring an additional 1,936 shares during the period. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Stock Performance

NYSE WTS opened at $199.01 on Wednesday. Watts Water Technologies, Inc. has a 1 year low of $167.87 and a 1 year high of $219.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49. The stock has a market capitalization of $6.64 billion, a PE ratio of 24.69, a P/E/G ratio of 2.76 and a beta of 0.89. The company’s 50 day simple moving average is $192.92 and its two-hundred day simple moving average is $197.62.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.13. Watts Water Technologies had a net margin of 12.44% and a return on equity of 19.22%. The business had revenue of $597.30 million for the quarter, compared to analysts’ expectations of $589.55 million. During the same period in the prior year, the company posted $2.34 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts predict that Watts Water Technologies, Inc. will post 8.71 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is currently 21.34%.

Insider Activity

In other news, insider Elie Melhem sold 1,710 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the sale, the insider now owns 11,516 shares in the company, valued at approximately $2,132,302.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Michael J. Dubose sold 315 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the transaction, the director now owns 2,755 shares of the company’s stock, valued at approximately $512,237.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Elie Melhem sold 1,710 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the transaction, the insider now directly owns 11,516 shares in the company, valued at approximately $2,132,302.56. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WTS. Robert W. Baird reduced their target price on shares of 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. Stifel Nicolaus dropped 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 research note on Friday, August 9th. Finally, StockNews.com upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th.

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.