Watts Water Technologies, Inc. (NYSE:WTS) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 0.7% in the second quarter, Holdings Channel reports. The firm owned 22,417 shares of the technology company’s stock after selling 147 shares during the period. Federated Hermes Inc.’s holdings in Watts Water Technologies were worth $4,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirova US LLC raised its stake in shares of Watts Water Technologies by 2.2% during 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 during the period. Congress Asset Management Co. MA purchased a new position in Watts Water Technologies in the 4th quarter valued at about $125,904,000. Allianz Asset Management GmbH lifted its stake in shares of Watts Water Technologies by 7.0% in the fourth quarter. Allianz Asset Management GmbH now owns 447,955 shares of the technology company’s stock worth $93,327,000 after acquiring an additional 29,468 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Watts Water Technologies by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 338,378 shares of the technology company’s stock valued at $71,924,000 after purchasing an additional 1,049 shares during the last quarter. Finally, KBC Group NV grew its stake in Watts Water Technologies by 14.8% during the 4th quarter. KBC Group NV now owns 295,748 shares of the technology company’s stock valued at $61,616,000 after purchasing an additional 38,110 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Watts Water Technologies Price Performance

Shares of WTS opened at $200.05 on Thursday. The stock has a 50 day moving average of $193.32 and a 200-day moving average of $197.63. Watts Water Technologies, Inc. has a 52 week low of $167.87 and a 52 week high of $219.52. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.80 and a beta of 0.89. The company has a current ratio of 2.50, a quick ratio of 1.49 and a debt-to-equity ratio of 0.16.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.13. The firm had revenue of $597.30 million for the quarter, compared to analyst estimates of $589.55 million. Watts Water Technologies had a net margin of 12.44% and a return on equity of 19.22%. Watts Water Technologies’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.34 earnings per share. As a group, analysts forecast that Watts Water Technologies, Inc. will post 8.71 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, August 30th. Watts Water Technologies’s dividend payout ratio is presently 21.34%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WTS shares. Robert W. Baird reduced their target price on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus decreased their price objective on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a report on Friday, August 9th.

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.