Watts Water Technologies, Inc. (NYSE:WTS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in Watts Water Technologies, Inc. (NYSE:WTS) by 5.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 44,411 shares of the technology company’s stock after selling 2,432 shares during the quarter. Corebridge Financial Inc. owned about 0.13% of Watts Water Technologies worth $9,029,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of Watts Water Technologies by 59.8% during the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock worth $32,000 after acquiring an additional 58 shares during the period. Jones Financial Companies Lllp boosted its holdings in Watts Water Technologies by 660.3% in the 4th quarter. Jones Financial Companies Lllp now owns 555 shares of the technology company’s stock valued at $113,000 after purchasing an additional 482 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Watts Water Technologies by 45.2% in the 4th quarter. Farther Finance Advisors LLC now owns 565 shares of the technology company’s stock valued at $115,000 after purchasing an additional 176 shares in the last quarter. Leavell Investment Management Inc. acquired a new position in Watts Water Technologies during the 4th quarter worth approximately $205,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Watts Water Technologies during the 3rd quarter worth approximately $231,000. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

NYSE WTS opened at $209.73 on Friday. The business has a 50 day moving average price of $211.60 and a 200 day moving average price of $207.82. The company has a market capitalization of $6.99 billion, a P/E ratio of 24.13, a PEG ratio of 3.42 and a beta of 0.93. Watts Water Technologies, Inc. has a 1-year low of $175.37 and a 1-year high of $232.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. Sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Friday, February 28th. Watts Water Technologies’s payout ratio is currently 19.79%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WTS shares. Deutsche Bank Aktiengesellschaft started coverage on Watts Water Technologies in a research note on Tuesday, December 17th. They issued a “hold” rating and a $240.00 price target on the stock. The Goldman Sachs Group boosted their target price 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. Finally, Stifel Nicolaus upped their price target on shares of Watts Water Technologies from $218.00 to $219.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and two have assigned 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.

Insider Buying and Selling at Watts Water Technologies

In related news, insider Elie Melhem sold 4,397 shares of Watts Water Technologies stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total transaction of $925,700.41. Following the completion of the transaction, the insider now directly owns 10,469 shares in the company, valued at $2,204,038.57. The trade was a 29.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Watts Water Technologies 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.