Two Sigma Advisers LP trimmed its position in Watts Water Technologies Inc (NYSE:WTS) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,700 shares of the technology company’s stock after selling 1,035 shares during the period. Two Sigma Advisers LP’s holdings in Watts Water Technologies were worth $949,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WTS. Comerica Bank lifted its position in shares of Watts Water Technologies by 0.6% during the 4th quarter. Comerica Bank now owns 27,064 shares of the technology company’s stock valued at $1,977,000 after acquiring an additional 162 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its stake in shares of Watts Water Technologies by 3.2% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 6,608 shares of the technology company’s stock valued at $426,000 after buying an additional 207 shares during the period. ETF Managers Group LLC lifted its stake in shares of Watts Water Technologies by 15.7% in the fourth quarter. ETF Managers Group LLC now owns 1,677 shares of the technology company’s stock valued at $108,000 after buying an additional 228 shares during the period. CAPROCK Group Inc. lifted its stake in shares of Watts Water Technologies by 5.9% in the fourth quarter. CAPROCK Group Inc. now owns 4,778 shares of the technology company’s stock valued at $308,000 after buying an additional 265 shares during the period. Finally, Ledyard National Bank lifted its stake in shares of Watts Water Technologies by 3.8% in the fourth quarter. Ledyard National Bank now owns 10,235 shares of the technology company’s stock valued at $661,000 after buying an additional 375 shares during the period. Hedge funds and other institutional investors own 77.56% of the company’s stock.
WTS has been the subject of a number of analyst reports. Oppenheimer restated a “hold” rating on shares of Watts Water Technologies in a research note on Monday, February 11th. Janney Montgomery Scott cut shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and raised their price target for the stock from $81.00 to $83.00 in a research note on Monday, February 11th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Watts Water Technologies presently has an average rating of “Hold” and an average price target of $89.50.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Thursday, February 7th. The technology company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The firm had revenue of $387.60 million during the quarter, compared to analysts’ expectations of $382.33 million. Watts Water Technologies had a net margin of 7.97% and a return on equity of 14.71%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.74 earnings per share. As a group, sell-side analysts anticipate that Watts Water Technologies Inc will post 4.07 earnings per share for the current fiscal year.
In other news, insider Munish Nanda sold 11,059 shares of the firm’s stock in a transaction that occurred on 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 accessible through this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 9,673 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $81.58, for a total transaction of $789,123.34. Following the sale, the general counsel now directly owns 35,365 shares of the company’s stock, valued at approximately $2,885,076.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,055 shares of company stock valued at $5,707,415. Corporate insiders own 0.75% of the company’s stock.
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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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