Watts Water Technologies, Inc. $WTS Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in Watts Water Technologies by 5.4%, now owning 181,700 shares valued at approximately $37 million, while other hedge funds have significantly increased their positions.
• Shares of Watts Water Technologies have received mixed analyst ratings, with a consensus of "Hold" and a price target of $245.50, despite one firm upgrading it to a "strong-buy".
• The company recently reported a quarterly EPS of $3.09, exceeding expectations, along with a quarterly dividend announcement of $0.52 per share, reflecting a yield of 0.7%.

Gabelli Funds LLC reduced its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,700 shares of the technology company's stock after selling 10,300 shares during the period. Gabelli Funds LLC owned about 0.55% of Watts Water Technologies worth $37,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WTS. Costello Asset Management INC bought a new stake in shares of Watts Water Technologies in the 1st quarter valued at approximately $33,000. Versant Capital Management Inc grew its stake in Watts Water Technologies by 57.3% in the 1st quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock worth $46,000 after acquiring an additional 82 shares in the last quarter. GAMMA Investing LLC grew its stake in Watts Water Technologies by 80.5% in the 1st quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock worth $57,000 after acquiring an additional 124 shares in the last quarter. Parallel Advisors LLC increased its position in Watts Water Technologies by 45.0% during the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock valued at $60,000 after purchasing an additional 91 shares during the period. Finally, Summit Securities Group LLC purchased a new position in Watts Water Technologies during the 1st quarter valued at about $64,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Down 2.2%

Shares of NYSE WTS traded down $6.21 during midday trading on Friday, hitting $276.49. The company's stock had a trading volume of 307,137 shares, compared to its average volume of 201,303. The business's fifty day simple moving average is $260.41 and its two-hundred day simple moving average is $232.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.59 and a quick ratio of 1.63. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $285.90. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 3.44 and a beta of 1.13.

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

Watts Water Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

WTS has been the topic of a number of analyst reports. 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. Stifel Nicolaus lifted their price objective 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. Northcoast Research downgraded shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. 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, the stock currently has a consensus rating of "Hold" and an average price target of $245.50.

Insider Buying and Selling at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 713 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was 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 $327,693.30. This represents a 37.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company's stock.

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.