Creative Planning Cuts Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Creative Planning reduced its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 23.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,146 shares of the technology company’s stock after selling 1,604 shares during the period. Creative Planning’s holdings in Watts Water Technologies were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WTS. Groupama Asset Managment purchased a new stake in shares of Watts Water Technologies during the fourth quarter valued at $10,866,000. Cim Investment Management Inc. lifted its holdings in Watts Water Technologies by 16.5% in the fourth quarter. Cim Investment Management Inc. now owns 2,525 shares of the technology company’s stock valued at $526,000 after acquiring an additional 358 shares during the period. Covenant Partners LLC bought a new position in Watts Water Technologies in the fourth quarter valued at about $264,000. Goldman Sachs Group Inc. lifted its holdings in Watts Water Technologies by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 279,397 shares of the technology company’s stock valued at $58,210,000 after acquiring an additional 37,452 shares during the period. Finally, Congress Asset Management Co. MA bought a new position in Watts Water Technologies in the fourth quarter valued at about $125,904,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Down 1.4 %

NYSE WTS opened at $204.52 on Friday. The stock’s 50-day moving average price is $195.58 and its 200-day moving average price is $197.72. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. Watts Water Technologies, Inc. has a 52 week low of $167.87 and a 52 week high of $219.52. The company has a market capitalization of $6.83 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 2.94 and a beta of 0.89.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.33 by $0.13. The firm had revenue of $597.30 million for the quarter, compared to the consensus estimate of $589.55 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.34 earnings per share. On average, equities research analysts predict that Watts Water Technologies, Inc. will post 8.71 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Friday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 21.34%.

Insider Activity at Watts Water Technologies

In related news, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total transaction of $58,567.95. Following the sale, the director now owns 2,755 shares of the company’s stock, valued at approximately $512,237.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Watts Water Technologies news, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the sale, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Elie Melhem sold 1,710 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the completion of the sale, the insider now directly owns 11,516 shares in the company, valued at approximately $2,132,302.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WTS. Stifel Nicolaus lowered their target price on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, August 9th. StockNews.com raised Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Robert W. Baird decreased their price objective on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th.

About Watts Water Technologies

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.