Northern Trust Corp decreased its holdings in Watts Water Technologies Inc (NYSE:WTS) by 28.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 682,097 shares of the technology company’s stock after selling 270,079 shares during the period. Northern Trust Corp owned about 2.00% of Watts Water Technologies worth $53,476,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of WTS. BlackRock Inc. increased its holdings in shares of Watts Water Technologies by 9.3% in the 2nd quarter. BlackRock Inc. now owns 4,546,758 shares of the technology company’s stock valued at $356,466,000 after purchasing an additional 385,696 shares during the period. BTIM Corp. acquired a new position in shares of Watts Water Technologies in the 2nd quarter valued at about $14,345,000. Segall Bryant & Hamill LLC increased its holdings in shares of Watts Water Technologies by 466.7% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 174,352 shares of the technology company’s stock valued at $13,669,000 after purchasing an additional 143,588 shares during the period. TD Asset Management Inc. increased its holdings in shares of Watts Water Technologies by 1,879.0% in the 2nd quarter. TD Asset Management Inc. now owns 122,700 shares of the technology company’s stock valued at $9,620,000 after purchasing an additional 116,500 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Watts Water Technologies by 119.0% in the 1st quarter. JPMorgan Chase & Co. now owns 181,609 shares of the technology company’s stock valued at $14,111,000 after purchasing an additional 98,688 shares during the period. Institutional investors own 77.06% of the company’s stock.
In related news, General Counsel Kenneth Robert Lepage sold 10,115 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $86.07, for a total value of $870,598.05. Following the transaction, the general counsel now owns 39,966 shares in the company, valued at $3,439,873.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert J. Pagano, Jr. sold 11,040 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $85.36, for a total value of $942,374.40. Following the completion of the transaction, the insider now owns 116,545 shares in the company, valued at approximately $9,948,281.20. The disclosure for this sale can be found here. Insiders sold 31,266 shares of company stock worth $2,661,929 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently weighed in on the company. Boenning Scattergood reiterated a “neutral” rating on shares of Watts Water Technologies in a report on Thursday, August 2nd. Robert W. Baird reiterated a “hold” rating and issued a $82.00 target price on shares of Watts Water Technologies in a report on Friday, July 20th. Zacks Investment Research upgraded Watts Water Technologies from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Saturday, July 7th. ValuEngine upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. Finally, Northcoast Research reiterated a “buy” rating and issued a $105.00 target price on shares of Watts Water Technologies in a report on Friday, August 3rd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Watts Water Technologies has an average rating of “Hold” and a consensus price target of $90.80.
NYSE:WTS opened at $74.35 on Thursday. Watts Water Technologies Inc has a 52 week low of $66.40 and a 52 week high of $93.35. The company has a market capitalization of $2.83 billion, a P/E ratio of 24.62, a PEG ratio of 1.86 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 2.29.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, August 1st. The technology company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. Watts Water Technologies had a return on equity of 13.88% and a net margin of 5.83%. The firm had revenue of $407.90 million for the quarter, compared to the consensus estimate of $403.60 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts anticipate that Watts Water Technologies Inc will post 3.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 31st were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.84 dividend on an annualized basis and a yield of 1.13%. Watts Water Technologies’s dividend payout ratio is currently 27.81%.
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. It 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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