PDT Partners LLC Sells 2,066 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• PDT Partners LLC reduced its holdings in Watts Water Technologies, Inc. by 15.2%, selling 2,066 shares and ending the quarter with 11,524 shares worth approximately $2.35 million.
• Watts Water Technologies recently reported an earnings per share of $3.09, exceeding analysts' estimates of $2.68, along with a revenue of $643.70 million for the quarter, up 7.8% year-over-year.
• The company declared a quarterly dividend of $0.52 per share, scheduled for payment on September 15th, with a current dividend yield of 0.8%.

PDT Partners LLC decreased its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 15.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,524 shares of the technology company's stock after selling 2,066 shares during the period. PDT Partners LLC's holdings in Watts Water Technologies were worth $2,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WTS. Northern Trust Corp lifted its position in Watts Water Technologies by 11.4% during the fourth quarter. Northern Trust Corp now owns 398,341 shares of the technology company's stock valued at $80,983,000 after purchasing an additional 40,738 shares during the period. Comerica Bank raised its position in Watts Water Technologies by 3.7% in the fourth quarter. Comerica Bank now owns 15,618 shares of the technology company's stock worth $3,175,000 after acquiring an additional 559 shares during the period. Freestone Grove Partners LP bought a new position in Watts Water Technologies in the fourth quarter worth approximately $324,000. Jane Street Group LLC raised its position in Watts Water Technologies by 3.9% in the fourth quarter. Jane Street Group LLC now owns 18,641 shares of the technology company's stock worth $3,790,000 after acquiring an additional 708 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new position in Watts Water Technologies in the fourth quarter worth approximately $209,000. Institutional investors own 95.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WTS. Stifel Nicolaus increased their price objective on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Northcoast Research cut shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Finally, Wall Street Zen cut shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Watts Water Technologies currently has an average rating of "Hold" and an average target price of $245.50.

Watts Water Technologies Price Performance

Shares of NYSE:WTS traded up $0.38 on Friday, reaching $280.09. The company's stock had a trading volume of 151,955 shares, compared to its average volume of 181,313. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $285.90. The company has a market cap of $9.34 billion, a P/E ratio of 30.12, a PEG ratio of 3.38 and a beta of 1.11. The company has a 50-day simple moving average of $263.63 and a 200 day simple moving average of $234.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59.

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. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The business had revenue of $643.70 million during the quarter, compared to analysts' expectations of $612.15 million. During the same period last year, the company posted $2.46 EPS. The business's revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

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

Insider Activity

In other news, Director Joseph T. Noonan sold 713 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the sale, the director owned 1,194 shares in the company, valued at approximately $327,693.30. This trade represents a 37.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

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.