Tower Research Capital LLC TRC boosted its position in Watts Water Technologies Inc. (NYSE:WTS) by 1,543.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,808 shares of the company’s stock after buying an additional 1,698 shares during the period. Tower Research Capital LLC TRC’s holdings in Watts Water Technologies were worth $105,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in Watts Water Technologies during the second quarter worth approximately $118,000. Clean Yield Group increased its stake in Watts Water Technologies by 8.3% in the second quarter. Clean Yield Group now owns 2,600 shares of the company’s stock worth $151,000 after buying an additional 200 shares during the period. Societe Generale purchased a new stake in Watts Water Technologies during the second quarter worth approximately $180,000. Gray Financial Group GA ADV ADV purchased a new stake in Watts Water Technologies during the second quarter worth approximately $191,000. Finally, PineBridge Investments L.P. increased its stake in Watts Water Technologies by 3.1% in the second quarter. PineBridge Investments L.P. now owns 3,533 shares of the company’s stock worth $206,000 after buying an additional 106 shares during the period. 81.95% of the stock is owned by hedge funds and other institutional investors.
Shares of Watts Water Technologies Inc. (NYSE:WTS) opened at 62.27 on Friday. Watts Water Technologies Inc. has a 52-week low of $44.51 and a 52-week high of $66.00. The stock’s market capitalization is $2.13 billion. The stock has a 50 day moving average price of $63.72 and a 200-day moving average price of $59.91.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $371.10 million for the quarter, compared to the consensus estimate of $367.14 million. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Watts Water Technologies Inc. will post $2.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. Watts Water Technologies’s payout ratio is currently -25.35%.
A number of equities research analysts recently commented on the company. Janney Montgomery Scott assumed coverage on Watts Water Technologies in a report on Friday, September 16th. They set a “neutral” rating and a $63.00 target price for the company. Northcoast Research assumed coverage on Watts Water Technologies in a research report on Friday, July 8th. They set a “neutral” rating for the company. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $61.40.
In related news, insider Elie Melhem sold 5,192 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $62.44, for a total value of $324,188.48. Following the completion of the sale, the insider now directly owns 32,656 shares of the company’s stock, valued at approximately $2,039,040.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 31,362 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $64.53, for a total value of $2,023,789.86. Following the completion of the sale, the general counsel now directly owns 75,727 shares of the company’s stock, valued at $4,886,663.31. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
About Watts Water Technologies
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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