Shell Asset Management Co. decreased its holdings in Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) by 39.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,282 shares of the technology company’s stock after selling 2,804 shares during the quarter. Shell Asset Management Co.’s holdings in Watts Water Technologies were worth $598,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in Watts Water Technologies by 1.3% during the 4th quarter. Russell Investments Group Ltd. now owns 4,589 shares of the technology company’s stock worth $890,000 after acquiring an additional 61 shares during the period. Van ECK Associates Corp lifted its position in Watts Water Technologies by 10.6% during the 4th quarter. Van ECK Associates Corp now owns 762 shares of the technology company’s stock worth $148,000 after acquiring an additional 73 shares during the period. Janney Montgomery Scott LLC lifted its position in Watts Water Technologies by 2.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 13,487 shares of the technology company’s stock worth $2,619,000 after acquiring an additional 325 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Watts Water Technologies during the 4th quarter worth about $3,029,000. Finally, Yousif Capital Management LLC acquired a new stake in Watts Water Technologies during the 4th quarter worth about $5,017,000. Institutional investors and hedge funds own 75.11% of the company’s stock.
Insiders Place Their Bets
In other Watts Water Technologies news, insider Elie Melhem sold 3,800 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $129.54, for a total transaction of $492,252.00. Following the completion of the sale, the insider now directly owns 12,303 shares in the company, valued at approximately $1,593,730.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.00% of the stock is owned by company insiders.
Watts Water Technologies Price Performance
Watts Water Technologies (NYSE:WTS – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The technology company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.24. Watts Water Technologies had a return on equity of 17.41% and a net margin of 9.60%. The firm had revenue of $463.20 million during the quarter, compared to analyst estimates of $442.80 million. During the same quarter in the previous year, the business earned $1.24 EPS. Watts Water Technologies’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts predict that Watts Water Technologies, Inc. will post 6.14 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently issued reports on WTS. Stifel Nicolaus decreased their price objective on Watts Water Technologies from $141.00 to $130.00 in a report on Wednesday, July 20th. Cowen decreased their price objective on Watts Water Technologies from $130.00 to $120.00 in a report on Tuesday, June 28th. Northcoast Research began coverage on Watts Water Technologies in a report on Friday, July 15th. They issued a “neutral” rating for the company. Cowen decreased their price objective on Watts Water Technologies from $130.00 to $120.00 in a report on Tuesday, June 28th. Finally, The Goldman Sachs Group decreased their price objective on Watts Water Technologies from $165.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, April 13th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $129.25.
Watts Water Technologies Profile
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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