Candriam S.C.A. decreased its position in Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 27.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,302 shares of the technology company’s stock after selling 6,265 shares during the quarter. Candriam S.C.A.’s holdings in Watts Water Technologies were worth $5,795,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in WTS. First Trust Advisors LP raised its position in Watts Water Technologies by 6.7% during the first quarter. First Trust Advisors LP now owns 545,404 shares of the technology company’s stock valued at $158,325,000 after acquiring an additional 34,381 shares in the last quarter. Lazard Asset Management LLC grew its position in Watts Water Technologies by 79.8% in the first quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company’s stock worth $63,525,000 after acquiring an additional 97,115 shares in the last quarter. Squarepoint Ops LLC grew its position in Watts Water Technologies by 8,421.5% in the second quarter. Squarepoint Ops LLC now owns 104,815 shares of the technology company’s stock worth $41,030,000 after acquiring an additional 103,585 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Watts Water Technologies by 20,071.4% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock worth $40,989,000 after purchasing an additional 140,500 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Watts Water Technologies by 58.7% during the 1st quarter. Renaissance Technologies LLC now owns 135,140 shares of the technology company’s stock worth $39,230,000 after purchasing an additional 49,960 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.
Insiders Place Their Bets
In related news, Director Joseph Noonan sold 3,650 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 1,096 shares of the stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total transaction of $394,066.80. Following the completion of the sale, the insider directly owned 7,867 shares of the company’s stock, valued at approximately $2,828,579.85. This trade represents a 12.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently weighed in on WTS. Royal Bank Of Canada cut their price target on shares of Watts Water Technologies from $417.00 to $397.00 and set a “sector perform” rating on the stock in a report on Friday, November 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $374.00 price objective on shares of Watts Water Technologies in a report on Friday, August 7th. KeyCorp upped their price objective on shares of Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Robert W. Baird set a $405.00 target price on shares of Watts Water Technologies in a research report on Friday, August 7th. Finally, Weiss Ratings lowered Watts Water Technologies from a “buy (a)” rating to a “buy (a-)” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Watts Water Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $368.30.
View Our Latest Analysis on Watts Water Technologies
Watts Water Technologies Stock Down 0.2%
Shares of Watts Water Technologies stock opened at $359.04 on Wednesday. The stock has a market capitalization of $11.98 billion, a P/E ratio of 28.27, a PEG ratio of 3.49 and a beta of 1.13. The company has a quick ratio of 1.71, a current ratio of 2.80 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $355.17 and a two-hundred day moving average price of $333.13. Watts Water Technologies, Inc. has a 12-month low of $262.96 and a 12-month high of $394.54.
Watts Water Technologies (NYSE:WTS – Get Free Report) last announced its earnings results on Wednesday, November 4th. The technology company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.14 by $0.26. Watts Water Technologies had a net margin of 16.00% and a return on equity of 19.75%. The firm had revenue of $728.00 million for the quarter, compared to the consensus estimate of $692.57 million. During the same quarter last year, the firm posted $2.50 EPS. The business’s quarterly revenue was up 19.0% on a year-over-year basis. Equities analysts expect that Watts Water Technologies, Inc. will post 12.87 earnings per share for the current year.
Watts Water Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies’s payout ratio is 18.89%.
About Watts Water Technologies
Watts Water Technologies, Inc. designs and manufactures products that help control the safety, flow, and quality of water in plumbing, heating, and water-treatment systems. Its products serve residential, commercial, and industrial applications. The company’s offerings include backflow preventers, valves, water pressure regulators, drainage products, water-quality and treatment systems, and controls for heating and hot-water applications. It also provides solutions for water reuse and other water-management needs.
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