First Trust Advisors LP boosted its position in Watts Water Technologies Inc (NYSE:WTS) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,483 shares of the technology company’s stock after buying an additional 5,230 shares during the quarter. First Trust Advisors LP’s holdings in Watts Water Technologies were worth $13,486,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Watts Water Technologies during the second quarter valued at approximately $102,000. Fort L.P. bought a new position in shares of Watts Water Technologies during the second quarter valued at approximately $108,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Watts Water Technologies during the second quarter valued at approximately $212,000. Hartford Investment Management Co. bought a new position in shares of Watts Water Technologies during the second quarter valued at approximately $222,000. Finally, Xact Kapitalforvaltning AB grew its holdings in shares of Watts Water Technologies by 27.2% during the first quarter. Xact Kapitalforvaltning AB now owns 3,744 shares of the technology company’s stock valued at $291,000 after purchasing an additional 800 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE WTS opened at $74.96 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.24 and a quick ratio of 1.38. The company has a market cap of $2.62 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16. Watts Water Technologies Inc has a 12-month low of $67.29 and a 12-month high of $93.35.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Friday, November 2nd. The technology company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.04. The business had revenue of $390.90 million during the quarter, compared to the consensus estimate of $380.00 million. Watts Water Technologies had a return on equity of 14.43% and a net margin of 6.05%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, analysts predict that Watts Water Technologies Inc will post 3.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.84 annualized dividend and a dividend yield of 1.12%. Watts Water Technologies’s dividend payout ratio is presently 27.81%.
Several research firms have recently commented on WTS. Zacks Investment Research lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Boenning Scattergood reaffirmed a “neutral” rating on shares of Watts Water Technologies in a report on Thursday, August 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Tuesday, October 2nd. Seaport Global Securities reiterated a “hold” rating and set a $83.00 price objective on shares of Watts Water Technologies in a research report on Thursday, August 2nd. Finally, 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 report on Friday, August 3rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Watts Water Technologies currently has a consensus rating of “Hold” and a consensus price target of $90.80.
In other news, insider Elie Melhem sold 3,910 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $82.32, for a total transaction of $321,871.20. Following the completion of the transaction, the insider now directly owns 22,991 shares in the company, valued at $1,892,619.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph T. Noonan sold 2,653 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $76.00, for a total value of $201,628.00. Following the transaction, the director now owns 2,109 shares of the company’s stock, valued at $160,284. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Watts Water Technologies Company Profile
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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