Steward Partners Investment Advisory LLC Decreases Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Steward Partners Investment Advisory LLC trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTSGet Rating) by 37.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 266 shares of the technology company’s stock after selling 162 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Watts Water Technologies were worth $37,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. UMB Bank N A MO purchased a new stake in Watts Water Technologies in the 4th quarter worth about $29,000. Pinebridge Investments L.P. purchased a new stake in Watts Water Technologies in the 4th quarter worth about $58,000. MUFG Americas Holdings Corp raised its position in Watts Water Technologies by 159.8% in the 4th quarter. MUFG Americas Holdings Corp now owns 330 shares of the technology company’s stock worth $64,000 after purchasing an additional 203 shares during the period. Norwood Financial Corp purchased a new stake in Watts Water Technologies in the 4th quarter worth about $68,000. Finally, Ellevest Inc. raised its position in Watts Water Technologies by 114.7% in the 1st quarter. Ellevest Inc. now owns 380 shares of the technology company’s stock worth $53,000 after purchasing an additional 203 shares during the period. 75.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on WTS shares. Cowen reduced their price objective on shares of Watts Water Technologies from $130.00 to $120.00 in a research report on Tuesday, June 28th. Cowen dropped their target price on shares of Watts Water Technologies from $130.00 to $120.00 in a research note on Tuesday, June 28th. Boenning Scattergood restated a “neutral” rating on shares of Watts Water Technologies in a research note on Wednesday, May 4th. Northcoast Research initiated coverage on shares of Watts Water Technologies in a research note on Friday, July 15th. They issued a “neutral” rating on the stock. Finally, Stifel Nicolaus dropped their target price on shares of Watts Water Technologies from $141.00 to $130.00 in a research note on Wednesday, July 20th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $129.25.

Insider Activity

In other news, insider Elie Melhem sold 3,800 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $129.54, for a total transaction of $492,252.00. Following the transaction, the insider now directly owns 12,303 shares in the company, valued at $1,593,730.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Watts Water Technologies Price Performance

NYSE WTS opened at $146.98 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.28 and a current ratio of 2.27. The firm’s 50 day moving average price is $127.93 and its 200-day moving average price is $137.50. Watts Water Technologies, Inc. has a 52-week low of $116.31 and a 52-week high of $212.00. The company has a market cap of $4.92 billion, a PE ratio of 27.89, a P/E/G ratio of 2.79 and a beta of 0.98.

Watts Water Technologies (NYSE:WTSGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.24. Watts Water Technologies had a net margin of 9.60% and a return on equity of 17.41%. The firm had revenue of $463.20 million for the quarter, compared to the consensus estimate of $442.80 million. During the same period last year, the firm earned $1.24 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts forecast that Watts Water Technologies, Inc. will post 6.14 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.82%. Watts Water Technologies’s dividend payout ratio is presently 22.77%.

Watts Water Technologies Profile

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Watts Water Technologies, Inc designs, manufactures, and sells products, solution, and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. 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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Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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