Welch & Forbes LLC Cuts Position in Watts Water Technologies, Inc. (NYSE:WTS)

Welch & Forbes LLC lessened its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,674 shares of the technology company’s stock after selling 352 shares during the period. Welch & Forbes LLC’s holdings in Watts Water Technologies were worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Capital Fund Management S.A. boosted its holdings in Watts Water Technologies by 1.2% in the 2nd quarter. Capital Fund Management S.A. now owns 10,190 shares of the technology company’s stock worth $1,487,000 after buying an additional 120 shares during the last quarter. Profund Advisors LLC boosted its holdings in Watts Water Technologies by 4.3% in the 2nd quarter. Profund Advisors LLC now owns 3,265 shares of the technology company’s stock worth $477,000 after buying an additional 135 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in Watts Water Technologies by 12.7% in the 2nd quarter. Advisor Group Holdings Inc. now owns 1,752 shares of the technology company’s stock worth $255,000 after buying an additional 197 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings in Watts Water Technologies by 42.7% in the 2nd quarter. Banque Cantonale Vaudoise now owns 708 shares of the technology company’s stock worth $103,000 after buying an additional 212 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in Watts Water Technologies by 6.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,916 shares of the technology company’s stock worth $571,000 after buying an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 74.87% of the company’s stock.

WTS has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective on Watts Water Technologies from $159.00 to $189.00 and gave the stock a “hold” rating in a report on Friday, November 5th. They noted that the move was a valuation call. The Goldman Sachs Group boosted their target price on Watts Water Technologies from $153.00 to $191.00 and gave the stock a “neutral” rating in a report on Friday, November 5th.

Shares of Watts Water Technologies stock opened at $198.20 on Thursday. The stock has a market cap of $6.66 billion, a P/E ratio of 43.37, a P/E/G ratio of 4.74 and a beta of 0.89. The stock’s 50 day simple moving average is $185.33 and its 200-day simple moving average is $162.47. Watts Water Technologies, Inc. has a 1-year low of $113.44 and a 1-year high of $212.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.07 and a quick ratio of 1.22.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, November 3rd. The technology company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.09. Watts Water Technologies had a return on equity of 16.11% and a net margin of 8.90%. The business had revenue of $455.00 million for the quarter, compared to analysts’ expectations of $433.53 million. During the same period in the previous year, the firm posted $1.05 EPS. As a group, research analysts expect that Watts Water Technologies, Inc. will post 5.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Tuesday, November 30th. Watts Water Technologies’s dividend payout ratio is presently 22.76%.

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 10th. The stock was sold at an average price of $209.09, for a total value of $1,568,175.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Elie Melhem sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 9th. The shares were sold at an average price of $207.05, for a total value of $248,460.00. The disclosure for this sale can be found here. Insiders sold 21,710 shares of company stock worth $4,036,922 over the last quarter. 1.00% of the stock is currently owned by insiders.

Watts Water Technologies Profile

Watts Water Technologies, Inc engages in the manufacture and provision of products for water conservation, safety, and flow control. It operates through the following geographic segments: Americas, Europe, and Asia-Pacific, Middle East and Africa. Its services include plumbing and flow control solutions, water quality and conditioning, water reuse and drainage, heating, ventilation, and air conditioning, and municipal waterworks.

See Also: Return on Equity (ROE)

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

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