California Public Employees Retirement System Reduces Holdings in Watts Water Technologies Inc (WTS)

California Public Employees Retirement System decreased its holdings in Watts Water Technologies Inc (NYSE:WTS) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,820 shares of the technology company’s stock after selling 2,122 shares during the period. California Public Employees Retirement System owned about 0.20% of Watts Water Technologies worth $4,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of WTS. NJ State Employees Deferred Compensation Plan grew its stake in shares of Watts Water Technologies by 20.0% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 6,000 shares of the technology company’s stock worth $387,000 after purchasing an additional 1,000 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Watts Water Technologies by 1.7% during the third quarter. Vanguard Group Inc now owns 2,767,832 shares of the technology company’s stock worth $229,730,000 after purchasing an additional 45,313 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Watts Water Technologies by 1.7% during the third quarter. Vanguard Group Inc. now owns 2,767,832 shares of the technology company’s stock worth $229,730,000 after purchasing an additional 45,313 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Watts Water Technologies by 10.8% during the third quarter. Deutsche Bank AG now owns 221,850 shares of the technology company’s stock worth $18,411,000 after purchasing an additional 21,595 shares in the last quarter. Finally, King Luther Capital Management Corp grew its stake in shares of Watts Water Technologies by 19.1% during the third quarter. King Luther Capital Management Corp now owns 34,455 shares of the technology company’s stock worth $2,860,000 after purchasing an additional 5,520 shares in the last quarter. Institutional investors and hedge funds own 75.89% of the company’s stock.

In related news, insider Elie Melhem sold 2,681 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.77, for a total value of $216,544.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Timothy P. Horne sold 976 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $81.00, for a total transaction of $79,056.00. Following the completion of the sale, the insider now directly owns 49,024 shares of the company’s stock, valued at $3,970,944. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,055 shares of company stock valued at $5,707,415. 1.10% of the stock is owned by corporate insiders.

Shares of WTS opened at $79.00 on Friday. 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 $2.68 billion, a P/E ratio of 21.12, a P/E/G ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.07 and a quick ratio of 1.25.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Thursday, February 7th. The technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. Watts Water Technologies had a net margin of 7.97% and a return on equity of 14.71%. The firm had revenue of $387.60 million during the quarter, compared to analysts’ expectations of $382.33 million. During the same period in the previous year, the company earned $0.74 earnings per share. Watts Water Technologies’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts predict that Watts Water Technologies Inc will post 4.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.21 dividend. The ex-dividend date of this dividend was 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 presently 22.46%.

WTS has been the subject of a number of analyst reports. Seaport Global Securities upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. Oppenheimer reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Monday, February 11th. Finally, Janney Montgomery Scott downgraded shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $81.00 to $83.00 in a research note on Monday, February 11th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $89.50.

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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. 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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Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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