AQR Capital Management LLC lifted its stake in Watts Water Technologies Inc (NYSE:WTS) by 22.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,897 shares of the technology company’s stock after purchasing an additional 2,015 shares during the period. AQR Capital Management LLC’s holdings in Watts Water Technologies were worth $904,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in Watts Water Technologies during the third quarter worth about $135,000. Compton Capital Management Inc. RI acquired a new stake in Watts Water Technologies in the third quarter valued at $203,000. Trexquant Investment LP acquired a new stake in Watts Water Technologies in the third quarter valued at $246,000. Tower Research Capital LLC TRC raised its holdings in Watts Water Technologies by 124.2% in the third quarter. Tower Research Capital LLC TRC now owns 3,345 shares of the technology company’s stock valued at $278,000 after acquiring an additional 1,853 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new stake in Watts Water Technologies in the third quarter valued at $382,000. Hedge funds and other institutional investors own 78.42% of the company’s stock.
Several analysts recently issued reports on WTS shares. Oppenheimer reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Sunday, November 4th. Boenning Scattergood reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Monday, November 5th. Seaport Global Securities upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. Finally, Janney Montgomery Scott lowered shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and boosted their target price for the company from $81.00 to $83.00 in a research note on Monday, February 11th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $89.50.
WTS stock traded up $1.10 during trading on Friday, hitting $80.77. 139,365 shares of the company’s stock traded hands, compared to its average volume of 120,911. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.07 and a quick ratio of 1.25. Watts Water Technologies Inc has a 52 week low of $61.17 and a 52 week high of $93.35. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.95 and a beta of 1.23.
Watts Water Technologies (NYSE:WTS) last released its earnings results on Thursday, February 7th. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. The firm had revenue of $387.60 million during the quarter, compared to analyst estimates of $382.33 million. Watts Water Technologies had a net margin of 7.97% and a return on equity of 14.72%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. As a group, analysts expect that Watts Water Technologies Inc will post 4.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.04%. Watts Water Technologies’s dividend payout ratio is currently 22.46%.
In other news, insider Munish Nanda sold 11,059 shares of the company’s stock in a transaction dated Wednesday, February 13th. The shares were sold at an average price of $79.32, for a total transaction of $877,199.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Elie Melhem sold 9,173 shares of the company’s stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $69.91, for a total transaction of $641,284.43. Following the transaction, the insider now owns 29,991 shares of the company’s stock, valued at approximately $2,096,670.81. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It 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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