Welch & Forbes LLC decreased its position in shares of Watts Water Technologies Inc (NYSE:WTS) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,070 shares of the technology company’s stock after selling 816 shares during the quarter. Welch & Forbes LLC’s holdings in Watts Water Technologies were worth $973,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. We Are One Seven LLC purchased a new stake in Watts Water Technologies in the 4th quarter valued at about $32,000. Quantamental Technologies LLC acquired a new position in Watts Water Technologies in the fourth quarter valued at approximately $52,000. Clean Yield Group acquired a new position in Watts Water Technologies in the fourth quarter valued at approximately $88,000. Point72 Hong Kong Ltd acquired a new position in Watts Water Technologies in the third quarter valued at approximately $135,000. Finally, ETF Managers Group LLC raised its stake in shares of Watts Water Technologies by 15.7% during the fourth quarter. ETF Managers Group LLC now owns 1,677 shares of the technology company’s stock worth $108,000 after purchasing an additional 228 shares during the last quarter. 78.42% of the stock is currently owned by hedge funds and other institutional investors.
WTS stock traded up $0.54 during trading on Tuesday, reaching $79.24. 774 shares of the company’s stock were exchanged, compared to its average volume of 118,368. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.25 and a current ratio of 2.07. Watts Water Technologies Inc has a 1-year low of $61.17 and a 1-year high of $93.35. The firm has a market capitalization of $2.79 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.81 and a beta of 1.23.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.06%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 22.46%.
Several research analysts have issued reports on the company. Oppenheimer reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Monday. Janney Montgomery Scott lowered Watts Water Technologies from a “buy” rating to a “neutral” rating and increased their price objective for the company from $81.00 to $83.00 in a research note on Monday. Boenning Scattergood reissued a “hold” rating on shares of Watts Water Technologies in a research note on Monday, November 5th. Finally, Seaport Global Securities raised Watts Water Technologies from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $89.50.
In other news, insider Elie Melhem sold 9,173 shares of the company’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $69.91, for a total transaction of $641,284.43. Following the completion of the sale, the insider now owns 29,991 shares in the company, valued at approximately $2,096,670.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
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Watts Water Technologies Company Profile
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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