Diversified Trust Co Sells 1,650 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• Diversified Trust Co reduced its holdings in Watts Water Technologies by 37.7%, selling 1,650 shares and bringing its total to 2,726 shares worth approximately $670,000.
• Watts Water Technologies reported a quarterly earnings per share (EPS) of $3.09, surpassing expectations by $0.41, with a revenue increase of 7.8% year-over-year.
• The company recently declared a quarterly dividend of $0.52 per share, resulting in an annualized yield of 0.7% and a payout ratio of 22.37%.

Diversified Trust Co lessened its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 37.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,726 shares of the technology company's stock after selling 1,650 shares during the period. Diversified Trust Co's holdings in Watts Water Technologies were worth $670,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Costello Asset Management INC bought a new position in Watts Water Technologies during the first quarter worth $33,000. Versant Capital Management Inc raised its stake in Watts Water Technologies by 57.3% during the first quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock worth $46,000 after buying an additional 82 shares during the last quarter. GAMMA Investing LLC raised its stake in Watts Water Technologies by 80.5% during the first quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock worth $57,000 after buying an additional 124 shares during the last quarter. Parallel Advisors LLC raised its stake in Watts Water Technologies by 45.0% during the first quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock worth $60,000 after buying an additional 91 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in Watts Water Technologies in the first quarter valued at $64,000. Institutional investors own 95.02% of the company's stock.

Watts Water Technologies Trading Down 0.2%

Shares of WTS stock opened at $280.28 on Tuesday. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $287.89. 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 company has a 50-day simple moving average of $269.76 and a two-hundred day simple moving average of $240.45. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 3.37 and a beta of 1.11.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $643.70 million during the quarter, compared to the consensus estimate of $612.15 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.46 EPS. Research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 29th. Watts Water Technologies's payout ratio is presently 22.37%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays assumed coverage on shares of Watts Water Technologies in a research note on Friday. They issued an "equal weight" rating and a $287.00 price target for the company. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Wall Street Zen downgraded shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of "Hold" and an average price target of $253.80.

Insiders Place Their Bets

In other Watts Water Technologies news, 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 transaction, the director directly owned 1,194 shares in the company, valued at $327,693.30. The trade was a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Watts Water Technologies Company 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.

Want to see what other hedge funds are holding WTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watts Water Technologies, Inc. (NYSE:WTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.