Massachusetts Financial Services Co. MA Sells 719 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Massachusetts Financial Services Co. MA lessened its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,888 shares of the technology company’s stock after selling 719 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Watts Water Technologies were worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in WTS. Norges Bank bought a new stake in Watts Water Technologies during the fourth quarter worth $60,887,000. Raymond James Financial Inc. acquired a new stake in Watts Water Technologies in the fourth quarter valued at about $23,044,000. Wealthfront Advisers LLC bought a new position in Watts Water Technologies in the fourth quarter valued at about $9,773,000. Boston Partners raised its stake in Watts Water Technologies by 7.6% during the fourth quarter. Boston Partners now owns 632,155 shares of the technology company’s stock worth $128,527,000 after acquiring an additional 44,465 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Watts Water Technologies by 122.9% in the fourth quarter. Retirement Systems of Alabama now owns 74,194 shares of the technology company’s stock worth $15,084,000 after acquiring an additional 40,912 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Insider Activity

In related news, insider Elie Melhem sold 4,397 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total transaction of $925,700.41. Following the transaction, the insider now owns 10,469 shares in the company, valued at $2,204,038.57. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

Watts Water Technologies Trading Down 1.6 %

Shares of NYSE WTS opened at $179.94 on Wednesday. The stock has a market cap of $5.99 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 3.42 and a beta of 0.95. The firm has a 50 day moving average price of $208.73 and a two-hundred day moving average price of $207.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $232.60.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. As a group, equities analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, February 28th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 19.79%.

Analysts Set New Price Targets

WTS has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Watts Water Technologies from $197.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Watts Water Technologies in a report on Tuesday, December 17th. They set a “hold” rating and a $240.00 price target for the company. Finally, Stifel Nicolaus raised their price objective on Watts Water Technologies from $218.00 to $219.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Watts Water Technologies has an average rating of “Hold” and an average price target of $220.00.

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.