Prudential Financial Inc. cut its position in Watts Water Technologies Inc (NYSE:WTS) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,713 shares of the technology company’s stock after selling 2,972 shares during the period. Prudential Financial Inc. owned 0.13% of Watts Water Technologies worth $2,950,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in WTS. BBT Capital Management LLC acquired a new stake in Watts Water Technologies during the 4th quarter worth $323,000. Piedmont Investment Advisors Inc. boosted its stake in Watts Water Technologies by 3.2% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,608 shares of the technology company’s stock worth $426,000 after purchasing an additional 207 shares during the period. Whittier Trust Co. acquired a new stake in Watts Water Technologies during the 4th quarter worth $90,000. Oregon Public Employees Retirement Fund acquired a new stake in Watts Water Technologies during the 4th quarter worth $681,000. Finally, Comerica Bank boosted its stake in Watts Water Technologies by 0.6% during the 4th quarter. Comerica Bank now owns 27,064 shares of the technology company’s stock worth $1,977,000 after purchasing an additional 162 shares during the period. 75.89% of the stock is currently owned by institutional investors.
Shares of Watts Water Technologies stock opened at $79.00 on Friday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.94 and a beta of 1.22. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 0.36. Watts Water Technologies Inc has a one year low of $61.17 and a one year high of $93.35.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Thursday, February 7th. The technology company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $387.60 million during the quarter, compared to the consensus estimate of $382.33 million. Watts Water Technologies had a net margin of 7.97% and a return on equity of 14.71%. Watts Water Technologies’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 EPS. On average, equities research analysts forecast that Watts Water Technologies Inc will post 4.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.21 per share. The ex-dividend date was Thursday, February 28th. This represents a $0.84 dividend on an annualized basis and a yield of 1.06%. Watts Water Technologies’s payout ratio is currently 22.46%.
A number of analysts recently weighed in on WTS shares. 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. Janney Montgomery Scott downgraded shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $81.00 to $83.00 in a research report on Monday, February 11th. Finally, Oppenheimer restated a “hold” rating on shares of Watts Water Technologies in a research report on Monday, February 11th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.50.
In other news, General Counsel Kenneth Robert Lepage sold 9,673 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $81.58, for a total value of $789,123.34. Following the completion of the transaction, the general counsel now owns 35,365 shares in the company, valued at approximately $2,885,076.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Timothy P. Horne sold 976 shares of the stock in a transaction dated 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 transaction, the insider now owns 49,024 shares of the company’s stock, valued at approximately $3,970,944. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,055 shares of company stock valued at $5,707,415. 1.10% of the stock is owned by insiders.
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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. 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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