Gabelli Funds LLC Decreases Stake in Watts Water Technologies Inc (NYSE:WTS)

Gabelli Funds LLC cut its holdings in shares of Watts Water Technologies Inc (NYSE:WTS) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 439,500 shares of the technology company’s stock after selling 65,500 shares during the period. Gabelli Funds LLC owned 1.29% of Watts Water Technologies worth $40,953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in 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 worth $65,162,000 after purchasing an additional 11,985 shares during the period. FMR LLC boosted its position in shares of Watts Water Technologies by 70.0% in the fourth quarter. FMR LLC now owns 425 shares of the technology company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. Geode Capital Management LLC boosted its position in shares of Watts Water Technologies by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 293,010 shares of the technology company’s stock valued at $18,907,000 after acquiring an additional 20,834 shares during the period. Strs Ohio bought a new stake in shares of Watts Water Technologies in the first quarter valued at about $32,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Watts Water Technologies by 295.3% in the first quarter. BNP Paribas Arbitrage SA now owns 6,894 shares of the technology company’s stock valued at $557,000 after acquiring an additional 5,150 shares during the period. 75.02% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on WTS. ValuEngine cut shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of Watts Water Technologies from $102.00 to $107.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Janney Montgomery Scott cut shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and set a $93.26 target price for the company. in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research cut shares of Watts Water Technologies from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $95.09.

NYSE WTS traded up $0.37 during trading on Monday, hitting $93.77. 208 shares of the company’s stock were exchanged, compared to its average volume of 130,149. The company has a current ratio of 1.86, a quick ratio of 1.14 and a debt-to-equity ratio of 0.26. The company has a market cap of $3.09 billion, a PE ratio of 25.01, a P/E/G ratio of 2.81 and a beta of 1.21. Watts Water Technologies Inc has a fifty-two week low of $61.17 and a fifty-two week high of $94.93. The stock’s 50 day moving average price is $92.39 and its two-hundred day moving average price is $85.18.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $416.80 million during the quarter, compared to analyst estimates of $416.26 million. During the same period in the prior year, the company earned $1.05 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts forecast that Watts Water Technologies Inc will post 4.06 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.98%. The ex-dividend date is Thursday, August 29th. Watts Water Technologies’s payout ratio is presently 24.60%.

Watts Water Technologies Company Profile

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

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