Impax Asset Management Group plc Sells 47,744 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Impax Asset Management Group plc lowered its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 3.1% in the third quarter, HoldingsChannel reports. The fund owned 1,491,976 shares of the technology company’s stock after selling 47,744 shares during the period. Watts Water Technologies accounts for approximately 1.2% of Impax Asset Management Group plc’s investment portfolio, making the stock its 25th largest holding. Impax Asset Management Group plc’s holdings in Watts Water Technologies were worth $308,440,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. HWG Holdings LP acquired a new position in Watts Water Technologies during the 2nd quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new position in Watts Water Technologies in the third quarter valued at approximately $30,000. Gradient Investments LLC bought a new position in Watts Water Technologies in the second quarter valued at approximately $31,000. Blue Trust Inc. grew its holdings in Watts Water Technologies by 520.5% during the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock worth $50,000 after acquiring an additional 229 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of Watts Water Technologies during the 1st quarter valued at $53,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Insider Activity

In other news, insider Elie Melhem sold 1,710 shares of Watts Water Technologies stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the transaction, the insider now owns 11,516 shares in the company, valued at $2,132,302.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the sale, the insider now owns 11,516 shares in the company, valued at approximately $2,132,302.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael J. Dubose sold 315 shares of the business’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 value of $58,567.95. Following the completion of the sale, the director now owns 2,755 shares in the company, valued at $512,237.15. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,454 shares of company stock worth $1,042,646 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. StockNews.com upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus decreased their target price on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Robert W. Baird decreased their target price on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research report on Monday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $200.25.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $195.66 on Tuesday. Watts Water Technologies, Inc. has a 1 year low of $175.37 and a 1 year high of $219.52. The company has a current ratio of 2.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $6.53 billion, a P/E ratio of 23.46, a PEG ratio of 2.78 and a beta of 0.90. The business has a 50-day moving average of $200.07 and a 200-day moving average of $197.14.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data 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. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. The business had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.83 million. During the same quarter in the previous year, the business posted $2.04 EPS. Watts Water Technologies’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Watts Water Technologies, Inc. will post 8.71 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, November 29th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 20.62%.

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.