California State Teachers Retirement System Lowers Holdings in Watts Water Technologies, Inc. $WTS

California State Teachers Retirement System trimmed its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 2.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 31,881 shares of the technology company's stock after selling 910 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of Watts Water Technologies worth $12,479,817 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearstead Advisors LLC raised its stake in shares of Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company's stock valued at $29,000 after acquiring an additional 43 shares during the last quarter. Assetmark Inc. lifted its position in shares of Watts Water Technologies by 211.3% during the 1st quarter. Assetmark Inc. now owns 165 shares of the technology company's stock valued at $48,000 after acquiring an additional 112 shares during the period. Costello Asset Management INC raised its stake in shares of Watts Water Technologies by 900.0% during the 1st quarter. Costello Asset Management INC now owns 300 shares of the technology company's stock worth $87,000 after purchasing an additional 270 shares during the period. Blue Trust Inc. boosted its position in shares of Watts Water Technologies by 352.9% during the 1st quarter. Blue Trust Inc. now owns 317 shares of the technology company's stock valued at $92,000 after acquiring an additional 247 shares during the last quarter. Finally, Allworth Financial LP increased its position in Watts Water Technologies by 81.4% during the 4th quarter. Allworth Financial LP now owns 459 shares of the technology company's stock valued at $127,000 after purchasing an additional 206 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 3,650 shares of the company's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elie Melhem sold 1,096 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $359.55, for a total transaction of $394,066.80. Following the completion of the transaction, the insider directly owned 7,867 shares in the company, valued at approximately $2,828,579.85. This represents a 12.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WTS. TD Cowen upped their target price on Watts Water Technologies from $275.00 to $320.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. Weiss Ratings raised shares of Watts Water Technologies from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, September 1st. Royal Bank Of Canada boosted their price target on Watts Water Technologies from $350.00 to $417.00 and gave the company a "sector perform" rating in a report on Friday, August 7th. KeyCorp raised their price objective on Watts Water Technologies from $380.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Barclays raised their target price on Watts Water Technologies from $414.00 to $425.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $367.70.

Watts Water Technologies Stock Down 0.5%

Shares of NYSE WTS traded down $1.89 during mid-day trading on Tuesday, hitting $350.05. 44,270 shares of the stock traded hands, compared to its average volume of 265,250. The stock has a fifty day moving average price of $360.43 and a 200-day moving average price of $329.75. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 3.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66. Watts Water Technologies, Inc. has a 52 week low of $260.00 and a 52 week high of $394.54.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business had revenue of $763.10 million for the quarter, compared to the consensus estimate of $725.99 million. During the same quarter in the prior year, the firm posted $3.09 earnings per share. The business's revenue for the quarter was up 18.6% on a year-over-year basis. Research analysts anticipate that Watts Water Technologies, Inc. will post 12.75 EPS for the current year.

Watts Water Technologies Dividend Announcement

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

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a manufacturer of products and systems designed to manage the safety, efficiency, and quality of water within residential, commercial, and industrial plumbing and heating applications. Its offerings help regulate water pressure and temperature, prevent backflow and contamination, control flow, and improve water quality.

The company's products include valves, backflow prevention devices, regulators, drainage and plumbing components, water filtration and treatment systems, electric and hydronic heating equipment, and related controls.

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