North Growth Management Ltd. Trims Stake in Watts Water Technologies, Inc. (NYSE:WTS)

North Growth Management Ltd. cut its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the technology company’s stock after selling 1,000 shares during the period. North Growth Management Ltd.’s holdings in Watts Water Technologies were worth $8,125,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Champlain Investment Partners LLC purchased a new position in shares of Watts Water Technologies in the 3rd quarter valued at approximately $47,238,000. Boston Trust Walden Corp raised its holdings in Watts Water Technologies by 60.3% in the third quarter. Boston Trust Walden Corp now owns 520,189 shares of the technology company’s stock worth $107,778,000 after purchasing an additional 195,778 shares in the last quarter. Erste Asset Management GmbH bought a new position in Watts Water Technologies in the third quarter worth $10,792,000. Allspring Global Investments Holdings LLC lifted its position in Watts Water Technologies by 79.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 106,183 shares of the technology company’s stock valued at $22,000,000 after buying an additional 47,123 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in shares of Watts Water Technologies by 122.9% during the 4th quarter. Retirement Systems of Alabama now owns 74,194 shares of the technology company’s stock valued at $15,084,000 after buying an additional 40,912 shares in the last quarter. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Trading Down 1.0 %

WTS stock opened at $205.14 on Friday. Watts Water Technologies, Inc. has a twelve month low of $175.37 and a twelve month high of $222.70. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 3.39 and a beta of 0.93. The company has a quick ratio of 1.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. The firm’s fifty day simple moving average is $208.05 and its two-hundred day simple moving average is $203.03.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, February 28th. Watts Water Technologies’s payout ratio is 20.62%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WTS shares. Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $202.00 to $218.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Watts Water Technologies in a report on Tuesday, December 17th. They set a “hold” rating and a $240.00 target price for the company. Finally, Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $220.50.

About Watts Water Technologies

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.