Falcon Point Capital LLC reduced its holdings in shares of Watts Water Technologies Inc (NYSE:WTS) by 41.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,166 shares of the technology company’s stock after selling 12,676 shares during the quarter. Falcon Point Capital LLC owned 0.05% of Watts Water Technologies worth $1,693,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in WTS. Norges Bank acquired a new stake in Watts Water Technologies during the fourth quarter worth approximately $30,091,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in Watts Water Technologies during the first quarter worth approximately $14,992,000. William Blair Investment Management LLC acquired a new stake in Watts Water Technologies during the first quarter worth approximately $14,669,000. Victory Capital Management Inc. grew its stake in Watts Water Technologies by 6.7% during the first quarter. Victory Capital Management Inc. now owns 1,034,666 shares of the technology company’s stock worth $83,622,000 after purchasing an additional 64,797 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Watts Water Technologies by 153.1% during the first quarter. Assenagon Asset Management S.A. now owns 80,292 shares of the technology company’s stock worth $6,489,000 after purchasing an additional 48,570 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.
Shares of WTS opened at $91.12 on Friday. The firm has a market cap of $3.17 billion, a PE ratio of 23.96, a PEG ratio of 2.88 and a beta of 1.21. The stock’s fifty day moving average price is $92.37 and its two-hundred day moving average price is $85.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.86 and a quick ratio of 1.14. Watts Water Technologies Inc has a 1 year low of $61.17 and a 1 year high of $94.93.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.01). The company had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $416.26 million. Watts Water Technologies had a net margin of 8.08% and a return on equity of 14.76%. Watts Water Technologies’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. Sell-side analysts anticipate that Watts Water Technologies Inc will post 4.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, August 29th. Watts Water Technologies’s payout ratio is 24.60%.
WTS has been the subject of several recent analyst reports. Zacks Investment Research cut Watts Water Technologies from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Friday, May 31st. Janney Montgomery Scott lowered Watts Water Technologies from a “buy” rating to a “neutral” rating and set a $93.26 target price on the stock. in a report on Tuesday, July 2nd. Stifel Nicolaus raised their target price on Watts Water Technologies from $102.00 to $107.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, ValuEngine lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $95.09.
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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