Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Watts Water Technologies Inc (NYSE:WTS) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,481 shares of the technology company’s stock after purchasing an additional 389 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.15% of Watts Water Technologies worth $4,170,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE increased its position in shares of Watts Water Technologies by 88.5% during the first quarter. US Bancorp DE now owns 605 shares of the technology company’s stock worth $51,000 after acquiring an additional 284 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Watts Water Technologies by 22.3% in the first quarter. Mutual of America Capital Management LLC now owns 1,202 shares of the technology company’s stock valued at $102,000 after acquiring an additional 219 shares during the period. Advisor Group Holdings Inc. purchased a new position in shares of Watts Water Technologies during the 1st quarter valued at $180,000. IndexIQ Advisors LLC purchased a new position in Watts Water Technologies during the first quarter worth about $194,000. Finally, Macquarie Group Ltd. increased its position in shares of Watts Water Technologies by 118.2% in the fourth quarter. Macquarie Group Ltd. now owns 2,400 shares of the technology company’s stock worth $240,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.
Shares of WTS opened at $83.89 on Friday. Watts Water Technologies Inc has a 52 week low of $69.02 and a 52 week high of $114.45. The company has a quick ratio of 1.35, a current ratio of 2.09 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.82 billion, a P/E ratio of 21.68, a P/E/G ratio of 3.57 and a beta of 0.91. The business’s 50 day moving average price is $81.70 and its 200-day moving average price is $87.00.
Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, May 6th. The technology company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.09. Watts Water Technologies had a return on equity of 14.59% and a net margin of 8.31%. The business had revenue of $382.60 million for the quarter, compared to the consensus estimate of $372.30 million. During the same period in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts anticipate that Watts Water Technologies Inc will post 2.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Monday, August 31st. Watts Water Technologies’s payout ratio is currently 22.60%.
Several research analysts have recently commented on the company. Oppenheimer assumed coverage on Watts Water Technologies in a report on Thursday, June 18th. They issued a “hold” rating on the stock. Stifel Nicolaus lowered their price objective on shares of Watts Water Technologies from $120.00 to $96.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Finally, Zacks Investment Research downgraded Watts Water Technologies from a “hold” rating to a “sell” rating and set a $87.00 target price on the stock. in a report on Sunday, May 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.00.
In related news, insider Elie Melhem sold 1,688 shares of Watts Water Technologies stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.36, for a total transaction of $135,647.68. Following the transaction, the insider now directly owns 16,898 shares in the company, valued at $1,357,923.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 9,801 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $88.89, for a total value of $871,210.89. Company insiders own 1.10% of the company’s stock.
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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