Canandaigua National Bank & Trust Co. Sells 211 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Canandaigua National Bank & Trust Co. decreased its position in Watts Water Technologies, Inc. (NYSE:WTS) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,182 shares of the technology company’s stock after selling 211 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Watts Water Technologies were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Watts Water Technologies during the 3rd quarter valued at about $30,000. HWG Holdings LP purchased a new stake in shares of Watts Water Technologies during the second quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Watts Water Technologies in the third quarter worth approximately $68,000. CWM LLC boosted its position in Watts Water Technologies by 24.4% during the 3rd quarter. CWM LLC now owns 392 shares of the technology company’s stock valued at $81,000 after buying an additional 77 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Watts Water Technologies by 76.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 394 shares of the technology company’s stock worth $72,000 after acquiring an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

Shares of WTS opened at $200.02 on Wednesday. Watts Water Technologies, Inc. has a one year low of $175.37 and a one year high of $222.70. The company has a 50-day simple moving average of $208.91 and a two-hundred day simple moving average of $199.98. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55. The firm has a market capitalization of $6.67 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 3.11 and a beta of 0.93.

Watts Water Technologies (NYSE:WTS) last released 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. The company had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.83 million. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 earnings per share. On average, analysts anticipate that Watts Water Technologies, Inc. will post 8.74 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, November 29th. Watts Water Technologies’s payout ratio is 20.62%.

Insider Buying and Selling

In related news, General Counsel Kenneth Robert Lepage sold 3,429 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $194.65, for a total transaction of $667,454.85. Following the sale, the general counsel now directly owns 14,064 shares of the company’s stock, valued at $2,737,557.60. This trade represents a 19.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Shashank Patel sold 4,569 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $209.10, for a total value of $955,377.90. Following the completion of the transaction, the chief financial officer now directly owns 15,635 shares of the company’s stock, valued at approximately $3,269,278.50. This trade represents a 22.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,974 shares of company stock worth $6,924,594 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Watts Water Technologies in a research note on Tuesday, December 17th. They set a “hold” rating and a $240.00 price objective for the company. Stifel Nicolaus lifted their price objective on Watts Water Technologies from $202.00 to $218.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Watts Water Technologies has a consensus rating of “Hold” and an average price target of $220.50.

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.