Watts Water Technologies, Inc. (NYSE:WTS) Stake Cut by Comerica Bank

Comerica Bank cut its position in shares of Watts Water Technologies, Inc. (NYSE:WTSGet Rating) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,579 shares of the technology company’s stock after selling 320 shares during the quarter. Comerica Bank’s holdings in Watts Water Technologies were worth $1,673,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Watts Water Technologies by 0.8% in the first quarter. State Street Corp now owns 865,509 shares of the technology company’s stock worth $120,816,000 after buying an additional 6,863 shares during the period. Invesco Ltd. increased its position in Watts Water Technologies by 25.2% in the first quarter. Invesco Ltd. now owns 691,779 shares of the technology company’s stock worth $96,565,000 after buying an additional 139,042 shares during the period. Mirova US LLC increased its position in Watts Water Technologies by 6.3% in the second quarter. Mirova US LLC now owns 648,600 shares of the technology company’s stock worth $79,674,000 after buying an additional 38,553 shares during the period. Victory Capital Management Inc. increased its position in Watts Water Technologies by 89.5% in the second quarter. Victory Capital Management Inc. now owns 566,767 shares of the technology company’s stock worth $69,622,000 after buying an additional 267,654 shares during the period. Finally, Northern Trust Corp increased its position in Watts Water Technologies by 29.0% in the first quarter. Northern Trust Corp now owns 455,323 shares of the technology company’s stock worth $63,558,000 after buying an additional 102,485 shares during the period. 74.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WTS has been the topic of a number of research analyst reports. Stifel Nicolaus raised their price target on Watts Water Technologies from $145.00 to $146.00 and gave the company a “hold” rating in a report on Friday. The Goldman Sachs Group lifted their target price on Watts Water Technologies from $129.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, November 4th. Deutsche Bank Aktiengesellschaft lowered Watts Water Technologies from a “buy” rating to a “hold” rating and lowered their target price for the stock from $155.00 to $150.00 in a report on Tuesday, January 10th. They noted that the move was a valuation call. Finally, StockNews.com lowered Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, January 6th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $135.80.

Watts Water Technologies Trading Up 1.5 %

NYSE:WTS opened at $153.86 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.47 and a debt-to-equity ratio of 0.15. Watts Water Technologies, Inc. has a 1-year low of $116.31 and a 1-year high of $186.04. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 2.92 and a beta of 1.01. The stock has a fifty day simple moving average of $151.77 and a 200 day simple moving average of $141.49.

Watts Water Technologies (NYSE:WTSGet Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The technology company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.22. Watts Water Technologies had a return on equity of 19.81% and a net margin of 11.43%. The firm had revenue of $487.80 million during the quarter, compared to analyst estimates of $476.13 million. Sell-side analysts forecast that Watts Water Technologies, Inc. will post 7.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.78%. Watts Water Technologies’s payout ratio is presently 18.15%.

Watts Water Technologies Company Profile

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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.

Further Reading

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

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