State of Wisconsin Investment Board decreased its stake in shares of Watts Water Technologies Inc (NYSE:WTS) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 101,718 shares of the technology company’s stock after selling 5,500 shares during the period. State of Wisconsin Investment Board owned 0.30% of Watts Water Technologies worth $7,975,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake in Watts Water Technologies by 80.2% during the first quarter. Wells Fargo & Company MN now owns 90,322 shares of the technology company’s stock worth $7,018,000 after buying an additional 40,205 shares during the last quarter. CIBC Asset Management Inc acquired a new position in Watts Water Technologies during the first quarter worth $203,000. SG Americas Securities LLC boosted its stake in Watts Water Technologies by 46.4% during the first quarter. SG Americas Securities LLC now owns 5,868 shares of the technology company’s stock worth $456,000 after buying an additional 1,861 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Watts Water Technologies during the first quarter worth $170,000. Finally, American Century Companies Inc. acquired a new position in Watts Water Technologies during the first quarter worth $5,051,000. 79.23% of the stock is owned by institutional investors and hedge funds.
Shares of Watts Water Technologies stock opened at $84.50 on Wednesday. Watts Water Technologies Inc has a 52 week low of $59.15 and a 52 week high of $93.35. The firm has a market capitalization of $2.84 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.88 and a beta of 1.05. The company has a current ratio of 2.29, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. Watts Water Technologies had a return on equity of 13.88% and a net margin of 5.83%. The business had revenue of $407.90 million for the quarter, compared to analyst estimates of $403.60 million. During the same quarter in the prior year, the company posted $0.83 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. equities analysts forecast that Watts Water Technologies Inc will post 3.69 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 27.81%.
A number of research firms have weighed in on WTS. Northcoast Research reissued a “buy” rating and set a $105.00 price objective on shares of Watts Water Technologies in a research note on Friday, August 3rd. Stifel Nicolaus boosted their price objective on Watts Water Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Boenning Scattergood reissued a “neutral” rating on shares of Watts Water Technologies in a research note on Thursday, August 2nd. Robert W. Baird reissued a “hold” rating and set a $82.00 price objective on shares of Watts Water Technologies in a research note on Friday, July 20th. Finally, Oppenheimer reissued a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Watts Water Technologies presently has a consensus rating of “Hold” and a consensus price target of $85.33.
In other news, insider Robert J. Pagano, Jr. sold 11,040 shares of the company’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $85.36, for a total value of $942,374.40. Following the transaction, the insider now owns 116,545 shares of the company’s stock, valued at approximately $9,948,281.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 6,201 shares of the company’s stock in a transaction on Thursday, July 26th. The shares were sold at an average price of $85.00, for a total value of $527,085.00. Following the completion of the transaction, the general counsel now directly owns 56,959 shares in the company, valued at approximately $4,841,515. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,266 shares of company stock worth $2,661,929. Corporate insiders own 1.10% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It 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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