Watts Water Technologies, Inc. $WTS Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp decreased its holdings in Watts Water Technologies by 2.6%, owning 387,915 shares worth approximately $79 million after selling 10,426 shares in the first quarter.
• Watts Water Technologies reported earnings per share of $3.09 for the latest quarter, exceeding estimates by $0.41, with a year-over-year revenue increase of 7.8%.
• The company declared a quarterly dividend of $0.52 per share, representing an annualized yield of 0.7%, with the payout ratio currently at 22.37%.

Northern Trust Corp trimmed its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 2.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 387,915 shares of the technology company's stock after selling 10,426 shares during the period. Northern Trust Corp owned about 1.16% of Watts Water Technologies worth $79,104,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Versor Investments LP acquired a new position in shares of Watts Water Technologies in the 1st quarter valued at approximately $367,000. Summit Securities Group LLC acquired a new position in shares of Watts Water Technologies in the 1st quarter valued at approximately $64,000. Algert Global LLC raised its position in shares of Watts Water Technologies by 7.7% in the 1st quarter. Algert Global LLC now owns 40,673 shares of the technology company's stock valued at $8,294,000 after purchasing an additional 2,900 shares in the last quarter. Corient IA LLC acquired a new position in shares of Watts Water Technologies in the 1st quarter valued at approximately $408,000. Finally, Raymond James Financial Inc. raised its position in shares of Watts Water Technologies by 8.8% in the 1st quarter. Raymond James Financial Inc. now owns 123,283 shares of the technology company's stock valued at $25,140,000 after purchasing an additional 9,935 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

WTS traded down $6.21 during trading on Friday, reaching $276.49. 307,137 shares of the company were exchanged, compared to its average volume of 239,462. The stock has a market cap of $9.22 billion, a P/E ratio of 29.73, a PEG ratio of 3.35 and a beta of 1.13. The firm has a 50 day moving average of $260.41 and a 200 day moving average of $232.92. 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, 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 issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.41. The firm had revenue of $643.70 million during the quarter, compared to the consensus estimate of $612.15 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The firm's revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.46 EPS. On average, sell-side analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

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

Insider Buying and Selling

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the transaction, the director owned 1,194 shares in the company, valued at approximately $327,693.30. The trade was a 37.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.