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SG Americas Securities LLC Sells 11,757 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

SG Americas Securities LLC Sells 11,757 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

SG Americas Securities LLC cut its holdings in Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 80.1% in the first quarter, according to the company’s most recent SEC filing. The fund owned 2,914 shares of the technology company after selling 11,757 shares during the quarter. SG Americas Securities LLC’s holdings in Watts Water Technologies were worth $619,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently changed their holdings in WTS. Congress Asset Management Co. MA purchased a new position in Watts Water Technologies in the fourth quarter worth approximately $125,904,000. Norges Bank purchased a new position in Watts Water Technologies in the fourth quarter worth approximately $61,513,000. Congress Wealth Management LLC DE purchased a new position in Watts Water Technologies in the fourth quarter worth approximately $13,284,000. Norden Group LLC increased its stake in Watts Water Technologies by 1,826.3% in the first quarter. Norden Group LLC now owns 59,310 shares of the technology company’s stock worth $12,606,000 after purchasing an additional 56,231 shares in the last quarter. Finally, Groupama Asset Managment bought a new position in Watts Water Technologies in the fourth quarter worth approximately $10,866,000. Institutional investors own 95.02% of the company’s shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WTS. Robert W. Baird increased their price objective on Watts Water Technologies from $212.00 to $225.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. Stifel Nicolaus increased their price objective on Watts Water Technologies from $209.00 to $217.00 and gave the stock a “hold” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the firm has a consensus rating of “Hold” and a consensus target price of $201.50.

Read our latest stock analysis on Watts Water Technologies

Watts Water Technologies shares down 0.2%

Watts Water Technologies shares opened at $196.27 on Friday. The company has a fifty-day moving average of $193.70 and a two-hundred-day moving average of $199.89. The company has a quick ratio of 1.44, a current ratio of 2.48 and a debt-to-equity ratio of 0.18. The company has a market cap of $6.55 billion, a price/earnings ratio of 24.35, a price/earnings/growth ratio of 2.82 and a beta of 0.90. Watts Water Technologies, Inc. has a twelve-month low of $167.87 and a twelve-month high of $219.52.

Watts Water Technologies (NYSE:WTS – Get Free Report) last released its earnings results on Wednesday, May 8. The technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.22. The company had revenue of $570.90 million during the quarter, compared to analyst estimates of $547.20 million. Watts Water Technologies had a return on equity of 19.61% and a net margin of 12.53%. Watts Water Technologies’ revenue increased 21.0% year over year. In the prior-year quarter, the company earned $1.92 EPS. On average, analysts predict that Watts Water Technologies, Inc. will post 8.71 EPS for the current fiscal year.

Watts Water Technologies increases dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.43 per share. This represents an annualized dividend of $1.72 and a dividend yield of 0.88%. The ex-dividend date was Friday, May 31st. This is a positive change from Watts Water Technologies’ previous quarterly dividend of $0.36. Watts Water Technologies’ dividend payout ratio is currently 21.34%.

Insider activity

In other news, CFO Shashank Patel sold 1,508 shares of the company’s stock in a transaction on Wednesday, May 22. The shares were sold at an average price of $215.10, for a total transaction of $324,370.80. Following the completion of the sale, the chief financial officer now owns 20,204 shares of the company’s stock, valued at approximately $4,345,880.40. The sale was disclosed in a document filed with the SEC, which is available on the SEC website. In other news, CFO Shashank Patel sold 1,508 shares of the company’s stock in a transaction on Wednesday, May 22. The shares were sold at an average price of $215.10, for a total transaction of $324,370.80. Following the completion of the sale, the chief financial officer now owns 20,204 shares of the company’s stock, valued at approximately $4,345,880.40. The sale was disclosed in a document filed with the SEC, which is available on the SEC website. Also, insider Elie Melhem sold 2,051 shares of the company’s stock in a transaction on Monday, May 20. The shares were sold at an average price of $215.51, for a total value of $442,011.01. Following the completion of the transaction, the insider now directly owns 13,226 shares of the company’s stock, valued at $2,850,335.26. The disclosure for this sale can be found here. During the last quarter, insiders sold 5,753 shares of the company’s stock for $1,236,753. Insiders own 1.10% of the company’s stock.

About Watts Water Technologies

(Free Report)

Watts Water Technologies, Inc., together with its subsidiaries, provides products and solutions to manage and maintain the flow of fluids and energy into, through and out of buildings in the commercial, industrial and residential markets throughout North and South America, Europe, Asia Pacific, the Middle East and Africa.

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Would you like to know which other hedge funds have WTS in their portfolio? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Watts Water Technologies, Inc. (NYSE:WTS – Free Report).

Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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