Metropolitan Life Insurance Co. NY trimmed its stake in Watts Water Technologies Inc (NYSE:WTS) by 54.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,627 shares of the technology company’s stock after selling 10,353 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Watts Water Technologies were worth $655,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new stake in Watts Water Technologies in the fourth quarter valued at $112,000. Sawgrass Asset Management LLC bought a new stake in Watts Water Technologies in the fourth quarter valued at $270,000. Koch Industries Inc. grew its position in Watts Water Technologies by 22.0% in the fourth quarter. Koch Industries Inc. now owns 3,821 shares of the technology company’s stock valued at $290,000 after acquiring an additional 690 shares during the period. Quadrature Capital Ltd acquired a new position in Watts Water Technologies in the fourth quarter worth $330,000. Finally, Invictus RG acquired a new position in Watts Water Technologies in the fourth quarter worth $377,000. Hedge funds and other institutional investors own 77.18% of the company’s stock.
Watts Water Technologies stock opened at $75.25 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.60 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2,563.69, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. Watts Water Technologies Inc has a 52 week low of $59.15 and a 52 week high of $84.25.
The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, March 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 25.17%.
In other news, insider Robert J. Pagano, Jr. sold 16,248 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $76.89, for a total transaction of $1,249,308.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Munish Nanda sold 6,953 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 31,560 shares in the company, valued at approximately $2,387,829.60. The disclosure for this sale can be found here. Insiders have sold 42,344 shares of company stock worth $3,239,332 in the last ninety days. 1.10% of the stock is currently owned by insiders.
A number of equities analysts have commented on the company. TheStreet lowered Watts Water Technologies from a “b+” rating to a “c+” rating in a research note on Monday, February 12th. Stifel Nicolaus reissued a “buy” rating and issued a $90.00 price objective (down previously from $95.00) on shares of Watts Water Technologies in a research note on Wednesday, February 14th. Zacks Investment Research raised Watts Water Technologies from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research note on Saturday, February 10th. Northcoast Research set a $90.00 price objective on Watts Water Technologies and gave the stock a “buy” rating in a research note on Friday, January 19th. Finally, Boenning Scattergood lowered Watts Water Technologies from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $80.40.
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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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