CW Advisors LLC Lowers Stake in Watts Water Technologies, Inc. $WTS

Key Points

• CW Advisors LLC sold 63,359 shares of Watts Water Technologies, reducing their holdings by 97.7%, leaving them with just 1,504 shares valued at $307,000.
• Watts Water Technologies reported earnings of $3.09 per share, surpassing the consensus estimate of $2.68, with quarterly revenue reaching $643.7 million, a 7.8% increase from the previous year.
• The company declared a quarterly dividend of $0.52 per share, with a dividend yield of 0.7% and a payout ratio of 22.37% as of the last quarter.

CW Advisors LLC decreased its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 97.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,504 shares of the technology company's stock after selling 63,359 shares during the period. CW Advisors LLC's holdings in Watts Water Technologies were worth $307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Costello Asset Management INC acquired a new position in shares of Watts Water Technologies during the 1st quarter worth about $33,000. Versant Capital Management Inc raised its holdings in shares of Watts Water Technologies by 57.3% in the 1st quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock valued at $46,000 after purchasing an additional 82 shares during the period. GAMMA Investing LLC raised its holdings in shares of Watts Water Technologies by 80.5% in the 1st quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock valued at $57,000 after purchasing an additional 124 shares during the period. Parallel Advisors LLC raised its holdings in Watts Water Technologies by 45.0% in the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock valued at $60,000 after acquiring an additional 91 shares during the period. Finally, Summit Securities Group LLC bought a new position in Watts Water Technologies in the 1st quarter valued at about $64,000. Institutional investors and hedge funds own 95.02% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WTS. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Northcoast Research cut shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Stifel Nicolaus boosted their price target on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised shares of Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Watts Water Technologies has a consensus rating of "Hold" and an average target price of $245.50.

Watts Water Technologies Trading Down 0.0%

Shares of Watts Water Technologies stock traded down $0.04 during trading on Tuesday, reaching $276.86. The company's stock had a trading volume of 58,204 shares, compared to its average volume of 200,426. The company has a market cap of $9.24 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 3.35 and a beta of 1.11. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10. The firm's 50-day moving average is $261.03 and its two-hundred day moving average is $233.45. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $285.90.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.41. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The business had revenue of $643.70 million during the quarter, compared to analysts' expectations of $612.15 million. During the same quarter in the prior year, the company posted $2.46 EPS. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 29th. Watts Water Technologies's dividend payout ratio (DPR) is presently 22.37%.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the sale, the director directly owned 1,194 shares in the company, valued at approximately $327,693.30. This trade represents a 37.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.