PDT Partners LLC Lowers Stock Position in Watts Water Technologies, Inc. (NYSE:WTS)

PDT Partners LLC trimmed its position in Watts Water Technologies, Inc. (NYSE:WTS) by 32.6% in the 4th quarter, HoldingsChannel reports. The fund owned 13,590 shares of the technology company’s stock after selling 6,578 shares during the quarter. PDT Partners LLC’s holdings in Watts Water Technologies were worth $2,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WTS. UMB Bank n.a. raised its stake in Watts Water Technologies by 59.8% during the 4th quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock valued at $32,000 after purchasing an additional 58 shares during the period. Headlands Technologies LLC grew its holdings in Watts Water Technologies by 329.1% during the 4th quarter. Headlands Technologies LLC now owns 236 shares of the technology company’s stock valued at $48,000 after buying an additional 181 shares in the last quarter. Huntington National Bank raised its position in shares of Watts Water Technologies by 60.5% during the fourth quarter. Huntington National Bank now owns 366 shares of the technology company’s stock valued at $74,000 after buying an additional 138 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Watts Water Technologies by 660.3% in the fourth quarter. Jones Financial Companies Lllp now owns 555 shares of the technology company’s stock worth $113,000 after buying an additional 482 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Watts Water Technologies by 45.2% during the fourth quarter. Farther Finance Advisors LLC now owns 565 shares of the technology company’s stock worth $115,000 after acquiring an additional 176 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Insiders Place Their Bets

In other news, insider Elie Melhem sold 4,397 shares of Watts Water Technologies stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total transaction of $925,700.41. Following the completion of the sale, the insider now owns 10,469 shares of the company’s stock, valued at approximately $2,204,038.57. The trade was a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Watts Water Technologies Stock Performance

Watts Water Technologies stock opened at $206.64 on Wednesday. The company’s 50-day moving average price is $204.56 and its 200-day moving average price is $207.01. The company has a quick ratio of 1.65, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. The company has a market cap of $6.88 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.42 and a beta of 0.95. Watts Water Technologies, Inc. has a twelve month low of $175.37 and a twelve month high of $232.60.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. On average, equities research analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Friday, February 28th. Watts Water Technologies’s payout ratio is 19.79%.

Wall Street Analyst Weigh In

Several analysts have commented on WTS shares. Stifel Nicolaus upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $219.00 to $229.00 in a research note on Wednesday, April 16th. The Goldman Sachs Group increased their price target on Watts Water Technologies from $197.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $222.00.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.