Gamco Investors INC. ET AL Sells 13,898 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• Gamco Investors trimmed its stake in Watts Water Technologies by 3.2% in the fourth quarter, selling 13,898 shares and still holding 425,854 shares valued at about $117.5 million.
• Watts Water Technologies reported strong quarterly results, with EPS of $3.04 beating estimates and revenue rising 21.4% year over year to $677.3 million.
• The company declared a quarterly dividend of $0.63 per share, while analysts currently rate the stock a consensus Hold with an average price target of $329.44.

Gamco Investors INC. ET AL decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 425,854 shares of the technology company's stock after selling 13,898 shares during the period. Watts Water Technologies makes up 1.1% of Gamco Investors INC. ET AL's holdings, making the stock its 11th biggest position. Gamco Investors INC. ET AL owned 1.28% of Watts Water Technologies worth $117,544,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WTS. Wexford Capital LP bought a new position in Watts Water Technologies during the 3rd quarter worth $26,000. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies in the third quarter worth $29,000. Stance Capital LLC bought a new position in shares of Watts Water Technologies in the third quarter worth $62,000. Allworth Financial LP increased its position in shares of Watts Water Technologies by 29.7% in the third quarter. Allworth Financial LP now owns 253 shares of the technology company's stock worth $71,000 after purchasing an additional 58 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Watts Water Technologies by 144.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 291 shares of the technology company's stock worth $81,000 after purchasing an additional 172 shares during the period. Institutional investors own 95.02% of the company's stock.

Watts Water Technologies Stock Performance

Shares of WTS stock opened at $296.06 on Monday. The business's 50-day moving average price is $298.35 and its 200-day moving average price is $293.50. Watts Water Technologies, Inc. has a 12 month low of $235.14 and a 12 month high of $345.17. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 2.64 and a beta of 1.20. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. During the same period last year, the firm posted $2.37 earnings per share. The business's revenue for the quarter was up 21.4% on a year-over-year basis. Equities research analysts forecast that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Watts Water Technologies's dividend payout ratio (DPR) is presently 19.03%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WTS. The Goldman Sachs Group raised their price target on Watts Water Technologies from $267.00 to $323.00 and gave the stock a "neutral" rating in a research report on Friday, February 13th. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Zacks Research lowered Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 27th. Royal Bank Of Canada raised their price objective on Watts Water Technologies from $318.00 to $323.00 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, Watts Water Technologies currently has a consensus rating of "Hold" and an average target price of $329.44.

Insider Activity

In other news, CEO Robert J. Pagano, Jr. sold 16,066 shares of Watts Water Technologies stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the sale, the chief executive officer directly owned 191,202 shares of the company's stock, valued at approximately $62,582,326.62. This trade represents a 7.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of Watts Water Technologies stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total value of $1,613,427.00. Following the sale, the general counsel directly owned 12,284 shares in the company, valued at $3,944,146.72. The trade was a 29.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 31,931 shares of company stock valued at $10,349,195. 1.00% of the stock is currently owned by company insiders.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company's product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.

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