State of Tennessee Treasury Department Sells 9,395 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

State of Tennessee Treasury Department trimmed its holdings in Watts Water Technologies, Inc. (NYSE:WTSGet Rating) by 65.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 4,966 shares of the technology company’s stock after selling 9,395 shares during the quarter. State of Tennessee Treasury Department’s holdings in Watts Water Technologies were worth $693,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WTS. UMB Bank N A MO bought a new stake in Watts Water Technologies in the 4th quarter worth about $29,000. Ellevest Inc. grew its stake in shares of Watts Water Technologies by 114.7% during the 1st quarter. Ellevest Inc. now owns 380 shares of the technology company’s stock valued at $53,000 after purchasing an additional 203 shares during the period. Pinebridge Investments L.P. bought a new stake in shares of Watts Water Technologies during the 4th quarter valued at about $58,000. Okabena Investment Services Inc. bought a new stake in shares of Watts Water Technologies during the 4th quarter valued at about $84,000. Finally, Van ECK Associates Corp grew its stake in shares of Watts Water Technologies by 27.7% during the 1st quarter. Van ECK Associates Corp now owns 973 shares of the technology company’s stock valued at $136,000 after purchasing an additional 211 shares during the period. 75.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WTS has been the subject of a number of recent research reports. Cowen cut their price target on Watts Water Technologies from $130.00 to $120.00 in a research note on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Watts Water Technologies in a research note on Wednesday, August 17th. They set a “buy” rating and a $192.00 price target for the company. Northcoast Research initiated coverage on Watts Water Technologies in a research note on Friday, July 15th. They set a “neutral” rating for the company. Cowen cut their price objective on Watts Water Technologies from $130.00 to $120.00 in a research note on Tuesday, June 28th. Finally, Stifel Nicolaus cut their price objective on Watts Water Technologies from $141.00 to $130.00 in a research note on Wednesday, July 20th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $141.80.

Watts Water Technologies Stock Down 2.6 %

NYSE WTS opened at $134.88 on Friday. The stock’s 50 day moving average is $135.90 and its 200 day moving average is $135.72. The company has a current ratio of 2.30, a quick ratio of 1.27 and a debt-to-equity ratio of 0.17. Watts Water Technologies, Inc. has a 12 month low of $116.31 and a 12 month high of $212.00. The stock has a market cap of $4.51 billion, a PE ratio of 21.65, a P/E/G ratio of 2.68 and a beta of 0.98.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 31st. This represents a $1.20 annualized dividend and a dividend yield of 0.89%. Watts Water Technologies’s dividend payout ratio (DPR) is 19.26%.

Insider Transactions at Watts Water Technologies

In other news, insider Elie Melhem sold 240 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $149.33, for a total transaction of $35,839.20. Following the sale, the insider now directly owns 12,063 shares of the company’s stock, valued at approximately $1,801,367.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

About Watts Water Technologies

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Watts Water Technologies, Inc designs, manufactures, and sells products, solution, and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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

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