Watts Water Technologies, Inc. (NYSE:WTS) Stock Holdings Trimmed by Callan Family Office LLC

Key Points

• Callan Family Office LLC reduced its holdings in Watts Water Technologies by 42.7%, owning 2,237 shares valued at $456,000 after selling 1,666 shares.
• Watts Water Technologies' stock was down 1.2%, trading at $271.23, with a 52-week range between $177.59 and $278.20.
• The company announced a quarterly dividend of $0.52 per share, providing an annualized yield of 0.8%, with a payout ratio of 22.37%.

Callan Family Office LLC lowered its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 42.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,237 shares of the technology company's stock after selling 1,666 shares during the period. Callan Family Office LLC's holdings in Watts Water Technologies were worth $456,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WTS. LPL Financial LLC boosted its holdings in Watts Water Technologies by 20.7% in the fourth quarter. LPL Financial LLC now owns 7,459 shares of the technology company's stock valued at $1,517,000 after acquiring an additional 1,277 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Watts Water Technologies by 13.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 71,608 shares of the technology company's stock valued at $14,558,000 after acquiring an additional 8,728 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Watts Water Technologies by 16.4% during the fourth quarter. Bank of Montreal Can now owns 3,345 shares of the technology company's stock worth $680,000 after purchasing an additional 471 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Watts Water Technologies during the fourth quarter worth about $23,044,000. Finally, Barclays PLC lifted its stake in shares of Watts Water Technologies by 30.2% during the fourth quarter. Barclays PLC now owns 68,748 shares of the technology company's stock worth $13,976,000 after purchasing an additional 15,938 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

Watts Water Technologies Stock Down 1.2%

Shares of NYSE WTS traded down $3.19 during midday trading on Friday, reaching $271.23. 156,366 shares of the company's stock were exchanged, compared to its average volume of 247,480. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $278.20. The stock has a market capitalization of $9.05 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 3.27 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. The business's fifty day moving average price is $253.02 and its two-hundred day moving average price is $228.12.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.41. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%. The business had revenue of $643.70 million for the quarter, compared to analyst estimates of $612.15 million. During the same period in the previous year, the company earned $2.46 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 29th. Watts Water Technologies's payout ratio is presently 22.37%.

Analysts Set New Price Targets

A number of research analysts have commented on WTS shares. Stifel Nicolaus boosted their price objective on Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Wall Street Zen upgraded Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Finally, Northcoast Research cut Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $245.50.

Insider Transactions at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 7,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $241.85, for a total value of $1,692,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the sale, the director directly owned 1,194 shares of the company's stock, valued at approximately $327,693.30. This represents a 37.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

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.