Watts Water Technologies, Inc. $WTS Stock Position Lessened by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its stake in Watts Water Technologies by 33.4%, owning 4,005 shares after selling 2,008 shares in the first quarter.
• Watts Water Technologies announced a quarterly dividend of $0.52 per share, with a yield of 0.7%, to be paid on September 15th.
• The company's stock received mixed ratings from analysts, with a consensus rating of "Hold" and a price target averaging $245.50.

HighTower Advisors LLC lessened its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 33.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,005 shares of the technology company's stock after selling 2,008 shares during the quarter. HighTower Advisors LLC's holdings in Watts Water Technologies were worth $817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Costello Asset Management INC purchased a new position in Watts Water Technologies in the 1st quarter worth approximately $33,000. Versant Capital Management Inc boosted its holdings 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 during the period. GAMMA Investing LLC boosted its holdings 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 during the period. Parallel Advisors LLC boosted its holdings in Watts Water Technologies by 45.0% in the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock worth $60,000 after acquiring an additional 91 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Watts Water Technologies by 108.4% in the 1st quarter. UMB Bank n.a. now owns 323 shares of the technology company's stock worth $66,000 after acquiring an additional 168 shares during the period. Hedge funds and other institutional investors own 95.02% of the company's stock.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following the sale, the director directly owned 1,194 shares of the company's stock, valued at $327,693.30. This trade represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Wall Street Zen raised Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Stifel Nicolaus upped their target price on Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, Northcoast Research lowered Watts Water Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, May 16th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $245.50.

Watts Water Technologies Stock Performance

NYSE WTS traded up $1.21 during trading hours on Tuesday, hitting $278.11. The company had a trading volume of 150,866 shares, compared to its average volume of 229,460. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $285.90. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $261.67 and a 200-day simple moving average of $233.76. The firm has a market cap of $9.28 billion, a P/E ratio of 29.90, a price-to-earnings-growth ratio of 3.35 and a beta of 1.11.

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

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 0.7%. Watts Water Technologies's dividend payout ratio (DPR) is currently 22.37%.

About Watts Water Technologies

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.