Watts Water Technologies, Inc. $WTS Stake Lowered by Paralel Advisors LLC

Paralel Advisors LLC trimmed its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 39.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,958 shares of the technology company’s stock after selling 5,160 shares during the quarter. Paralel Advisors LLC’s holdings in Watts Water Technologies were worth $3,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Watts Water Technologies in the 4th quarter worth about $100,627,000. AQR Capital Management LLC boosted its stake in Watts Water Technologies by 148.3% during the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after purchasing an additional 165,837 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in Watts Water Technologies by 20,071.4% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock worth $40,989,000 after purchasing an additional 140,500 shares during the last quarter. UBS Group AG grew its position in Watts Water Technologies by 223.0% in the 3rd quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after purchasing an additional 139,637 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Watts Water Technologies by 79.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company’s stock valued at $78,067,000 after purchasing an additional 125,218 shares during the period. Institutional investors own 95.02% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $363.05 on Monday. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 3.56 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. Watts Water Technologies, Inc. has a 12 month low of $260.00 and a 12 month high of $394.54. The stock’s 50 day moving average price is $362.46 and its 200 day moving average price is $328.55.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The firm had revenue of $763.10 million during the quarter, compared to analyst estimates of $725.99 million. During the same period last year, the company posted $3.09 EPS. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. Equities research analysts anticipate that Watts Water Technologies, Inc. will post 12.75 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 22.01%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WTS shares. TD Cowen boosted their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings raised Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, September 1st. Robert W. Baird set a $405.00 price target on Watts Water Technologies in a research report on Friday, August 7th. Stifel Nicolaus increased their price target on Watts Water Technologies from $379.00 to $403.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Royal Bank Of Canada lifted their price objective on shares of Watts Water Technologies from $350.00 to $417.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $367.70.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.