Edgestream Partners L.P. Has $3.14 Million Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Edgestream Partners L.P. trimmed its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 41.5% in the third quarter, Holdings Channel reports. The fund owned 15,132 shares of the technology company’s stock after selling 10,720 shares during the period. Edgestream Partners L.P.’s holdings in Watts Water Technologies were worth $3,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of WTS. V Square Quantitative Management LLC bought a new stake in Watts Water Technologies during the third quarter worth about $30,000. HWG Holdings LP acquired a new position in shares of Watts Water Technologies in the second quarter valued at approximately $28,000. Gradient Investments LLC acquired a new position in shares of Watts Water Technologies in the second quarter valued at approximately $31,000. Blue Trust Inc. grew its position in Watts Water Technologies by 520.5% during the second quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock worth $50,000 after buying an additional 229 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Watts Water Technologies during the third quarter worth approximately $68,000. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

Shares of WTS opened at $215.79 on Monday. The company has a 50-day simple moving average of $206.20 and a two-hundred day simple moving average of $197.69. Watts Water Technologies, Inc. has a one year low of $175.37 and a one year high of $221.19. The firm has a market capitalization of $7.19 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 3.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. The company had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.83 million. During the same quarter in the previous year, the company earned $2.04 EPS. Watts Water Technologies’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts anticipate that Watts Water Technologies, Inc. will post 8.75 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.43 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.80%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 20.62%.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, CEO Robert J. Pagano, Jr. sold 20,810 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $212.20, for a total value of $4,415,882.00. Following the transaction, the chief executive officer now directly owns 176,045 shares in the company, valued at $37,356,749. This represents a 10.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shashank Patel sold 4,569 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $209.10, for a total transaction of $955,377.90. Following the completion of the transaction, the chief financial officer now owns 15,635 shares in the company, valued at $3,269,278.50. This represents a 22.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,974 shares of company stock worth $6,924,594 in the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

WTS has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their target price on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Robert W. Baird dropped their price objective on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. StockNews.com raised Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $200.25.

Watts Water Technologies Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.