State Board of Administration of Florida Retirement System decreased its position in shares of Watts Water Technologies Inc. (NYSE:WTS) by 12.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,183 shares of the company’s stock after selling 2,433 shares during the period. State Board of Administration of Florida Retirement System owned 0.05% of Watts Water Technologies worth $1,001,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can bought a new stake in Watts Water Technologies during the second quarter valued at about $118,000. Clean Yield Group raised its stake in Watts Water Technologies by 8.3% in the second quarter. Clean Yield Group now owns 2,600 shares of the company’s stock valued at $151,000 after buying an additional 200 shares in the last quarter. Societe Generale bought a new stake in Watts Water Technologies during the second quarter valued at about $180,000. Gray Financial Group GA ADV ADV bought a new stake in Watts Water Technologies during the second quarter valued at about $191,000. Finally, Pacad Investment Ltd. bought a new stake in Watts Water Technologies during the first quarter valued at about $204,000. Institutional investors and hedge funds own 81.95% of the company’s stock.
Shares of Watts Water Technologies Inc. (NYSE:WTS) traded down 2.09% during trading on Friday, reaching $63.28. 135,809 shares of the company traded hands. The stock’s market capitalization is $2.16 billion. Watts Water Technologies Inc. has a 12 month low of $44.51 and a 12 month high of $66.00. The company has a 50-day moving average of $64.02 and a 200-day moving average of $58.87.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.05. Watts Water Technologies had a negative net margin of 6.88% and a positive return on equity of 11.85%. The firm had revenue of $371.10 million for the quarter, compared to analyst estimates of $367.14 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts forecast that Watts Water Technologies Inc. will post $2.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.14%. The ex-dividend date was Wednesday, August 31st. Watts Water Technologies’s dividend payout ratio (DPR) is currently -25.35%.
WTS has been the topic of several research analyst reports. Seaport Global Securities lowered shares of Watts Water Technologies from an “accumulate” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research report on Friday, June 10th. TheStreet upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, June 16th. Northcoast Research started coverage on shares of Watts Water Technologies in a research report on Friday, July 8th. They issued a “neutral” rating on the stock. Finally, Janney Montgomery Scott started coverage on shares of Watts Water Technologies in a research report on Friday, September 16th. They set a “neutral” rating and a $63.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $61.40.
In other news, General Counsel Kenneth Robert Lepage sold 31,362 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $64.53, for a total value of $2,023,789.86. Following the transaction, the general counsel now directly owns 75,727 shares of the company’s stock, valued at $4,886,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elie Melhem sold 5,192 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $62.44, for a total transaction of $324,188.48. Following the completion of the transaction, the insider now directly owns 32,656 shares in the company, valued at $2,039,040.64. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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