Pacad Investment Ltd. lifted its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 50.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,279 shares of the technology company’s stock after buying an additional 1,100 shares during the quarter. Pacad Investment Ltd.’s holdings in Watts Water Technologies were worth $207,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Glen Harbor Capital Management LLC grew its position in shares of Watts Water Technologies by 12.9% during the 1st quarter. Glen Harbor Capital Management LLC now owns 1,960 shares of the technology company’s stock worth $122,000 after buying an additional 224 shares in the last quarter. Bank of Montreal Can grew its position in shares of Watts Water Technologies by 8.8% during the 1st quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock worth $138,000 after buying an additional 180 shares in the last quarter. Elkfork Partners LLC grew its position in shares of Watts Water Technologies by 12.9% during the 1st quarter. Elkfork Partners LLC now owns 2,380 shares of the technology company’s stock worth $148,000 after buying an additional 272 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Watts Water Technologies during the 1st quarter worth $150,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Watts Water Technologies during the 2nd quarter worth $202,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on WTS shares. BidaskClub downgraded Watts Water Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Watts Water Technologies in a research report on Wednesday, June 14th. Finally, Boenning Scattergood reissued an “outperform” rating on shares of Watts Water Technologies in a research report on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.50.
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In related news, insider Elie Melhem sold 3,306 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of the transaction, the insider now directly owns 32,128 shares of the company’s stock, valued at approximately $1,995,470.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.
Shares of Watts Water Technologies, Inc. (NYSE:WTS) opened at 62.55 on Wednesday. The company’s 50 day moving average price is $63.45 and its 200-day moving average price is $62.75. The stock has a market capitalization of $2.14 billion, a PE ratio of 24.43 and a beta of 1.06. Watts Water Technologies, Inc. has a 52 week low of $58.35 and a 52 week high of $71.05.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.04. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The business had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $379.51 million. During the same period in the previous year, the firm posted $0.75 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that Watts Water Technologies, Inc. will post $2.99 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.76 annualized dividend and a yield of 1.22%. Watts Water Technologies’s payout ratio is 29.69%.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc 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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