Tudor Investment Corp ET AL Sells 20,185 Shares of Watts Water Technologies, Inc. $WTS

Tudor Investment Corp ET AL cut its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 37.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,889 shares of the technology company’s stock after selling 20,185 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.10% of Watts Water Technologies worth $9,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Watts Water Technologies during the second quarter valued at approximately $80,386,000. Cartenna Capital LP bought a new stake in Watts Water Technologies during the third quarter valued at $47,478,000. AQR Capital Management LLC increased its stake in Watts Water Technologies by 148.3% in the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock worth $68,276,000 after acquiring an additional 165,837 shares during the last quarter. UBS Group AG grew its holdings in Watts Water Technologies by 223.0% in the 3rd quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after acquiring an additional 139,637 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Watts Water Technologies by 34.4% in the third quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock valued at $131,124,000 after acquiring an additional 120,090 shares during the period. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

WTS stock opened at $289.56 on Monday. The stock has a market capitalization of $9.65 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. The stock’s 50 day simple moving average is $309.49 and its 200 day simple moving average is $288.59. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $345.17. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The firm had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. During the same period in the prior year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, research analysts forecast that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a $0.52 dividend. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, February 27th. Watts Water Technologies’s payout ratio is 20.45%.

Analysts Set New Price Targets

WTS has been the subject of a number of analyst reports. Barclays increased their target price on shares of Watts Water Technologies from $300.00 to $323.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Zacks Research lowered Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. Finally, Stifel Nicolaus boosted their target price on Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $334.11.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, Director Michael J. Dubose sold 332 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $301.70, for a total value of $100,164.40. Following the transaction, the director owned 2,212 shares of the company’s stock, valued at approximately $667,360.40. This represents a 13.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the completion of the transaction, the general counsel directly owned 12,284 shares in the company, valued at approximately $3,944,146.72. The trade was a 29.03% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 29,674 shares of company stock worth $9,669,838. 1.00% of the stock is owned by corporate insiders.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.