Ledyard National Bank Trims Stock Position in Watts Water Technologies, Inc. (NYSE:WTS)

Ledyard National Bank lessened its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 1.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,764 shares of the technology company’s stock after selling 68 shares during the quarter. Ledyard National Bank’s holdings in Watts Water Technologies were worth $993,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Contravisory Investment Management Inc. purchased a new stake in Watts Water Technologies during the 4th quarter valued at $26,000. Allworth Financial LP boosted its position in Watts Water Technologies by 47.5% during the 4th quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock valued at $36,000 after buying an additional 56 shares during the period. McGlone Suttner Wealth Management Inc. purchased a new stake in Watts Water Technologies during the 4th quarter valued at $39,000. Headinvest LLC purchased a new stake in Watts Water Technologies during the 3rd quarter valued at $41,000. Finally, AdvisorNet Financial Inc boosted its position in Watts Water Technologies by 2,857.1% during the 4th quarter. AdvisorNet Financial Inc now owns 207 shares of the technology company’s stock valued at $43,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $199.50, for a total transaction of $498,750.00. Following the completion of the sale, the insider now directly owns 13,564 shares in the company, valued at $2,706,018. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Michael J. Dubose sold 329 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $197.91, for a total value of $65,112.39. Following the transaction, the director now owns 2,392 shares of the company’s stock, valued at $473,400.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elie Melhem sold 2,500 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $199.50, for a total transaction of $498,750.00. Following the completion of the transaction, the insider now directly owns 13,564 shares in the company, valued at approximately $2,706,018. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,113 shares of company stock worth $1,023,106. 1.10% of the stock is owned by company insiders.

Watts Water Technologies Stock Down 1.6 %

NYSE:WTS traded down $3.19 on Tuesday, reaching $198.61. 41,009 shares of the stock traded hands, compared to its average volume of 124,350. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.95 and a beta of 0.94. The company has a current ratio of 2.61, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. Watts Water Technologies, Inc. has a 12 month low of $156.85 and a 12 month high of $219.52. The company’s fifty day simple moving average is $203.96 and its 200 day simple moving average is $198.50.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Monday, February 12th. The technology company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.19. The business had revenue of $547.50 million during the quarter, compared to analyst estimates of $532.58 million. Watts Water Technologies had a net margin of 12.75% and a return on equity of 19.38%. Watts Water Technologies’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $1.60 EPS. Equities analysts predict that Watts Water Technologies, Inc. will post 8.53 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.44 annualized dividend and a yield of 0.73%. Watts Water Technologies’s dividend payout ratio (DPR) is 18.41%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of Watts Water Technologies from $191.00 to $208.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Stifel Nicolaus raised their target price on shares of Watts Water Technologies from $206.00 to $209.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $191.20.

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.