Wilen Investment Management CORP. trimmed its position in Watts Water Technologies Inc (NYSE:WTS) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,507 shares of the technology company’s stock after selling 900 shares during the quarter. Watts Water Technologies comprises approximately 2.5% of Wilen Investment Management CORP.’s holdings, making the stock its 15th biggest position. Wilen Investment Management CORP. owned about 0.10% of Watts Water Technologies worth $3,192,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in WTS. Victory Capital Management Inc. increased its stake in Watts Water Technologies by 6.7% in the first quarter. Victory Capital Management Inc. now owns 1,034,666 shares of the technology company’s stock worth $83,622,000 after purchasing an additional 64,797 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Watts Water Technologies by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,009,786 shares of the technology company’s stock valued at $65,162,000 after buying an additional 11,985 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Watts Water Technologies by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 384,501 shares of the technology company’s stock valued at $35,829,000 after buying an additional 2,677 shares during the period. Geode Capital Management LLC increased its stake in shares of Watts Water Technologies by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 293,010 shares of the technology company’s stock valued at $18,907,000 after buying an additional 20,834 shares during the period. Finally, TD Asset Management Inc. increased its stake in shares of Watts Water Technologies by 0.7% during the second quarter. TD Asset Management Inc. now owns 225,000 shares of the technology company’s stock valued at $20,966,000 after buying an additional 1,600 shares during the period. 75.02% of the stock is owned by institutional investors.
Shares of Watts Water Technologies stock traded down $0.32 on Friday, reaching $93.24. The company’s stock had a trading volume of 2,865 shares, compared to its average volume of 103,190. The company has a market capitalization of $3.08 billion, a P/E ratio of 25.01, a PEG ratio of 2.79 and a beta of 1.18. Watts Water Technologies Inc has a 52-week low of $61.17 and a 52-week high of $94.93. The stock has a 50-day moving average price of $92.11 and a 200-day moving average price of $86.42. The company has a quick ratio of 1.14, a current ratio of 1.86 and a debt-to-equity ratio of 0.26.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.09 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.01). Watts Water Technologies had a net margin of 8.08% and a return on equity of 14.76%. The business had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $416.26 million. During the same quarter last year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Watts Water Technologies Inc will post 4.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, August 29th. Watts Water Technologies’s payout ratio is 24.60%.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Watts Water Technologies from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Friday, May 31st. ValuEngine lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Janney Montgomery Scott downgraded Watts Water Technologies from a “buy” rating to a “neutral” rating and set a $93.26 price target for the company. in a report on Tuesday, July 2nd. Finally, Stifel Nicolaus raised their price target on Watts Water Technologies from $102.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $95.09.
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. 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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