John G Ullman & Associates Inc. Lowers Stock Holdings in Watts Water Technologies, Inc. $WTS

Key Points

• John G Ullman & Associates Inc. reduced its stake in Watts Water Technologies by 35.7% during the second quarter, leaving them with 11,977 shares valued at approximately $2.95 million.
• Watts Water Technologies reported a quarterly earnings per share (EPS) of $3.09, surpassing expectations, and noted a 7.8% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.52 per share, representing a yield of 0.8% with a dividend payout ratio of 22.37%.

John G Ullman & Associates Inc. decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 35.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,977 shares of the technology company's stock after selling 6,650 shares during the quarter. John G Ullman & Associates Inc.'s holdings in Watts Water Technologies were worth $2,945,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WTS. Costello Asset Management INC purchased a new stake in Watts Water Technologies in the 1st quarter worth $33,000. GAMMA Investing LLC lifted 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 purchasing an additional 124 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Watts Water Technologies in the 1st quarter worth $64,000. Caitong International Asset Management Co. Ltd purchased a new stake in Watts Water Technologies in the 1st quarter worth $77,000. Finally, Covestor Ltd lifted its stake in Watts Water Technologies by 39.1% in the 1st quarter. Covestor Ltd now owns 423 shares of the technology company's stock worth $87,000 after purchasing an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company's stock.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $276.10 on Friday. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 3.30 and a beta of 1.13. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $287.89. The firm's 50-day moving average is $277.94 and its 200 day moving average is $249.11. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $643.70 million for 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 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 predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, August 29th. Watts Water Technologies's dividend payout ratio is presently 22.37%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays assumed coverage on shares of Watts Water Technologies in a research note on Friday, September 19th. They issued an "equal weight" rating and a $287.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Stifel Nicolaus boosted their target price 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. Wall Street Zen upgraded shares of Watts Water Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Weiss Ratings restated a "buy (b+)" rating on shares of Watts Water Technologies in a report on Tuesday, October 14th. Two analysts have 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.

Insider Buying and Selling

In related news, Director Joseph T. Noonan sold 713 shares of the company'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 transaction, the director directly owned 1,194 shares in the company, valued at approximately $327,693.30. This represents a 37.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.

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