Watts Water Technologies, Inc. (NYSE:WTS) Position Cut by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 2.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,600 shares of the technology company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Watts Water Technologies were worth $1,575,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Watts Water Technologies by 1.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,050,215 shares of the technology company’s stock valued at $375,948,000 after buying an additional 29,473 shares during the last quarter. Mirova US LLC increased its holdings in shares of Watts Water Technologies by 2.2% during the second quarter. Mirova US LLC now owns 715,674 shares of the technology company’s stock valued at $131,233,000 after purchasing an additional 15,462 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Watts Water Technologies by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 587,538 shares of the technology company’s stock valued at $107,738,000 after purchasing an additional 6,742 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Watts Water Technologies by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 338,378 shares of the technology company’s stock valued at $71,924,000 after purchasing an additional 1,049 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Watts Water Technologies by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 287,553 shares of the technology company’s stock valued at $52,729,000 after purchasing an additional 8,370 shares during the period. 95.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the transaction, 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 SEC, which can be accessed through this hyperlink. In related news, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the transaction, 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 SEC, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 1,710 shares of Watts Water Technologies stock in a transaction dated 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 transaction, the insider now directly owns 11,516 shares in the company, valued at $2,132,302.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Watts Water Technologies Price Performance

NYSE:WTS opened at $190.59 on Friday. The business’s 50-day moving average price is $199.96 and its 200 day moving average price is $197.24. The firm has a market cap of $6.36 billion, a P/E ratio of 22.85, a PEG ratio of 2.83 and a beta of 0.89. Watts Water Technologies, Inc. has a 52-week low of $171.14 and a 52-week high of $219.52. 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 (NYSE:WTS) last released its earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.83 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. Watts Water Technologies’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 earnings per share. As a group, sell-side analysts predict that Watts Water Technologies, Inc. will post 8.7 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.43 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 0.90%. Watts Water Technologies’s dividend payout ratio is currently 20.62%.

Watts Water Technologies 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.