Wells Fargo & Company MN boosted its stake in shares of Watts Water Technologies Inc (NYSE:WTS) by 21.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,117 shares of the technology company’s stock after acquiring an additional 8,717 shares during the quarter. Wells Fargo & Company MN owned 0.15% of Watts Water Technologies worth $3,806,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new position in Watts Water Technologies during the fourth quarter valued at approximately $112,000. Parametrica Management Ltd raised its position in Watts Water Technologies by 27.3% during the fourth quarter. Parametrica Management Ltd now owns 5,560 shares of the technology company’s stock valued at $422,000 after acquiring an additional 1,194 shares in the last quarter. Sei Investments Co. raised its position in Watts Water Technologies by 34.6% during the third quarter. Sei Investments Co. now owns 7,335 shares of the technology company’s stock valued at $507,000 after acquiring an additional 1,884 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Watts Water Technologies during the fourth quarter valued at approximately $692,000. Finally, SG Americas Securities LLC raised its position in Watts Water Technologies by 108.9% during the third quarter. SG Americas Securities LLC now owns 9,324 shares of the technology company’s stock valued at $645,000 after acquiring an additional 4,861 shares in the last quarter. Institutional investors own 77.18% of the company’s stock.
Shares of WTS opened at $77.20 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.60 and a debt-to-equity ratio of 0.57. Watts Water Technologies Inc has a 12 month low of $59.15 and a 12 month high of $84.25. The company has a market capitalization of $2,563.69, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, March 2nd were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 1st. Watts Water Technologies’s payout ratio is currently 25.17%.
In other Watts Water Technologies news, CFO Todd A. Trapp sold 8,975 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $75.88, for a total value of $681,023.00. Following the sale, the chief financial officer now directly owns 26,129 shares of the company’s stock, valued at $1,982,668.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Munish Nanda sold 6,953 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $75.66, for a total value of $526,063.98. Following the completion of the sale, the insider now directly owns 31,560 shares in the company, valued at $2,387,829.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,344 shares of company stock worth $3,239,332. 1.10% of the stock is owned by corporate insiders.
Several brokerages recently weighed in on WTS. Stifel Nicolaus reiterated a “buy” rating and set a $95.00 price target (up from $85.00) on shares of Watts Water Technologies in a research report on Tuesday, January 16th. Janney Montgomery Scott upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 14th. TheStreet cut Watts Water Technologies from a “b+” rating to a “c+” rating in a research report on Monday, February 12th. Zacks Investment Research upgraded Watts Water Technologies from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Saturday, February 10th. Finally, Robert W. Baird reiterated a “hold” rating and set a $80.00 price target on shares of Watts Water Technologies in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $80.40.
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Watts Water Technologies 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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