Victory Capital Management Inc. lowered its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,258,547 shares of the technology company’s stock after selling 125,196 shares during the quarter. Victory Capital Management Inc.’s holdings in Watts Water Technologies were worth $126,044,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Swiss National Bank raised its stake in shares of Watts Water Technologies by 1.2% in the third quarter. Swiss National Bank now owns 59,200 shares of the technology company’s stock valued at $5,929,000 after acquiring an additional 700 shares during the last quarter. Sei Investments Co. increased its holdings in Watts Water Technologies by 213.0% during the 3rd quarter. Sei Investments Co. now owns 23,939 shares of the technology company’s stock valued at $2,400,000 after purchasing an additional 16,291 shares in the last quarter. M&T Bank Corp bought a new position in Watts Water Technologies in the 3rd quarter valued at $420,000. William Blair Investment Management LLC boosted its stake in Watts Water Technologies by 9.3% in the third quarter. William Blair Investment Management LLC now owns 172,254 shares of the technology company’s stock worth $17,251,000 after purchasing an additional 14,728 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Watts Water Technologies by 2.4% in the third quarter. California Public Employees Retirement System now owns 62,940 shares of the technology company’s stock worth $6,303,000 after purchasing an additional 1,498 shares in the last quarter. 75.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE WTS traded down $3.61 during midday trading on Tuesday, hitting $114.48. The stock had a trading volume of 4,336 shares, compared to its average volume of 180,387. The firm has a market cap of $3.98 billion, a P/E ratio of 34.73, a price-to-earnings-growth ratio of 4.03 and a beta of 0.93. Watts Water Technologies, Inc. has a fifty-two week low of $69.02 and a fifty-two week high of $119.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.39 and a quick ratio of 1.38. The company’s 50-day simple moving average is $109.81 and its 200 day simple moving average is $92.70.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, November 4th. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.16. The business had revenue of $383.90 million for the quarter, compared to analysts’ expectations of $363.25 million. Watts Water Technologies had a return on equity of 13.15% and a net margin of 7.67%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share. Equities analysts expect that Watts Water Technologies, Inc. will post 3.47 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Monday, November 30th. Watts Water Technologies’s dividend payout ratio is 22.60%.
A number of research analysts recently issued reports on the company. Oppenheimer assumed coverage on Watts Water Technologies in a report on Monday, August 3rd. They issued a “hold” rating for the company. Zacks Investment Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating and set a $109.00 target price for the company. in a research note on Saturday, October 10th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Watts Water Technologies has an average rating of “Hold” and an average price target of $108.33.
In other news, major shareholder Timothy P. Horne sold 20,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $96.47, for a total value of $1,929,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph T. Noonan sold 1,000 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $114.48, for a total value of $114,480.00. Following the completion of the transaction, the director now directly owns 3,849 shares in the company, valued at approximately $440,633.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,193 shares of company stock valued at $2,981,241. 1.10% of the stock is owned by corporate insiders.
Watts Water Technologies 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 in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. The company 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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