Southeast Asset Advisors Inc. reduced its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 20.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,390 shares of the technology company’s stock after selling 2,170 shares during the period. Southeast Asset Advisors Inc.’s holdings in Watts Water Technologies were worth $523,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in WTS. BlackRock Inc. boosted its position in Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock worth $222,353,000 after buying an additional 3,541,642 shares during the last quarter. Impax Asset Management LTD boosted its position in Watts Water Technologies by 28.2% in the first quarter. Impax Asset Management LTD now owns 2,018,429 shares of the technology company’s stock worth $125,846,000 after buying an additional 444,528 shares in the last quarter. Vanguard Group Inc. boosted its position in Watts Water Technologies by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock worth $161,541,000 after buying an additional 205,883 shares in the last quarter. Norges Bank acquired a new position in Watts Water Technologies during the fourth quarter worth approximately $12,800,000. Finally, Victory Capital Management Inc. boosted its position in Watts Water Technologies by 24.6% in the first quarter. Victory Capital Management Inc. now owns 540,089 shares of the technology company’s stock worth $33,674,000 after buying an additional 106,590 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.
Shares of Watts Water Technologies, Inc. (WTS) traded up 0.96% during midday trading on Friday, hitting $62.95. The company had a trading volume of 74,576 shares. Watts Water Technologies, Inc. has a 12 month low of $56.30 and a 12 month high of $71.05. The company has a 50-day moving average of $62.86 and a 200 day moving average of $63.42. The firm has a market capitalization of $2.16 billion, a PE ratio of 24.21 and a beta of 1.07.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.05. The company had revenue of $347.20 million for the quarter, compared to analysts’ expectations of $343.79 million. Watts Water Technologies had a return on equity of 12.75% and a net margin of 6.40%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, analysts expect that Watts Water Technologies, Inc. will post $2.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, May 31st. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.18. Watts Water Technologies’s payout ratio is 29.23%.
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Several analysts have recently issued reports on WTS shares. BidaskClub raised Watts Water Technologies from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Watts Water Technologies in a research report on Wednesday, June 14th. Finally, Zacks Investment Research raised Watts Water Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Five investment analysts have rated the stock with a hold rating, Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $64.50.
In other news, insider Elie Melhem sold 1,281 shares of Watts Water Technologies stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $64.42, for a total transaction of $82,522.02. Following the sale, the insider now owns 29,493 shares of the company’s stock, valued at $1,899,939.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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