Gabelli Funds LLC Sells 1,500 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Gabelli Funds LLC cut its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 192,000 shares of the technology company's stock after selling 1,500 shares during the period. Gabelli Funds LLC owned about 0.58% of Watts Water Technologies worth $39,034,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Watts Water Technologies by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 267,439 shares of the technology company's stock worth $55,411,000 after buying an additional 12,159 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Watts Water Technologies by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 319,703 shares of the technology company's stock worth $64,996,000 after acquiring an additional 3,296 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Watts Water Technologies by 35.2% in the fourth quarter. Van ECK Associates Corp now owns 23,507 shares of the technology company's stock worth $4,779,000 after acquiring an additional 6,125 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Watts Water Technologies by 264.1% in the 4th quarter. SG Americas Securities LLC now owns 6,080 shares of the technology company's stock valued at $1,236,000 after purchasing an additional 4,410 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Watts Water Technologies by 9.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,225 shares of the technology company's stock valued at $16,716,000 after purchasing an additional 7,150 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 4,397 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total transaction of $925,700.41. Following the completion of the sale, the insider now directly owns 10,469 shares in the company, valued at approximately $2,204,038.57. This trade represents a 29.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

WTS has been the subject of several research reports. The Goldman Sachs Group increased their price objective on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised Watts Water Technologies from a "hold" rating to a "buy" rating and raised their price objective for the company from $219.00 to $229.00 in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Watts Water Technologies has an average rating of "Moderate Buy" and an average target price of $222.00.

Watts Water Technologies Trading Down 0.1 %

NYSE WTS traded down $0.13 on Friday, hitting $197.32. The company's stock had a trading volume of 199,559 shares, compared to its average volume of 167,695. The firm has a market cap of $6.57 billion, a PE ratio of 22.71, a PEG ratio of 3.42 and a beta of 0.95. The company's 50-day moving average is $206.41 and its 200 day moving average is $207.04. The company has a quick ratio of 1.65, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. Watts Water Technologies, Inc. has a 1-year low of $175.37 and a 1-year high of $232.60.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. As a group, analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 0.87%. Watts Water Technologies's payout ratio is 19.79%.

Watts Water Technologies 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.