Dimensional Fund Advisors LP decreased its stake in Watts Water Technologies Inc. (NYSE:WTS) by 11.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,066,402 shares of the company’s stock after selling 138,929 shares during the period. Dimensional Fund Advisors LP owned approximately 3.12% of Watts Water Technologies worth $62,127,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Pictet Asset Management Ltd. acquired a new stake in shares of Watts Water Technologies during the first quarter valued at approximately $25,972,000. Impax Asset Management LTD boosted its stake in shares of Watts Water Technologies by 11.9% in the first quarter. Impax Asset Management LTD now owns 1,517,797 shares of the company’s stock valued at $83,674,000 after buying an additional 161,379 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Watts Water Technologies by 45.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 461,456 shares of the company’s stock valued at $25,440,000 after buying an additional 144,747 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Watts Water Technologies by 135.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 122,642 shares of the company’s stock valued at $7,145,000 after buying an additional 70,655 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Watts Water Technologies by 46.5% in the second quarter. Royce & Associates LP now owns 89,340 shares of the company’s stock valued at $5,205,000 after buying an additional 28,340 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.
Watts Water Technologies Inc. (NYSE:WTS) traded up 1.84% during trading on Friday, reaching $64.84. The company’s stock had a trading volume of 102,667 shares. The stock’s market cap is $2.22 billion. Watts Water Technologies Inc. has a 52-week low of $44.51 and a 52-week high of $66.00. The firm has a 50 day moving average price of $64.09 and a 200-day moving average price of $59.27.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. Watts Water Technologies had a positive return on equity of 11.85% and a negative net margin of 6.88%. The company had revenue of $371.10 million for the quarter, compared to analyst estimates of $367.14 million. During the same quarter last year, the company posted $0.69 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, analysts expect that Watts Water Technologies Inc. will post $2.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a $0.18 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.11%. Watts Water Technologies’s payout ratio is -25.35%.
WTS has been the topic of several research analyst reports. Seaport Global Securities cut Watts Water Technologies from an “accumulate” rating to a “neutral” rating and set a $58.00 target price on the stock. in a report on Friday, June 10th. TheStreet raised Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, June 16th. Northcoast Research initiated coverage on Watts Water Technologies in a research note on Friday, July 8th. They set a “neutral” rating on the stock. Finally, Janney Montgomery Scott initiated coverage on Watts Water Technologies in a research note on Friday, September 16th. They set a “neutral” rating and a $63.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $61.40.
In related news, General Counsel Kenneth Robert Lepage sold 31,362 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $64.53, for a total transaction of $2,023,789.86. Following the sale, the general counsel now owns 75,727 shares in the company, valued at approximately $4,886,663.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elie Melhem sold 5,192 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $62.44, for a total value of $324,188.48. Following the sale, the insider now owns 32,656 shares in the company, valued at approximately $2,039,040.64. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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