Prudential Financial Inc. Increases Position in Watts Water Technologies Inc. (WTS)
Prudential Financial Inc. increased its position in shares of Watts Water Technologies Inc. (NYSE:WTS) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,218 shares of the company’s stock after buying an additional 520 shares during the period. Prudential Financial Inc. owned about 0.20% of Watts Water Technologies worth $3,974,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of WTS. Bank of Montreal Can acquired a new stake in Watts Water Technologies during the second quarter worth $118,000. Clean Yield Group boosted its stake in Watts Water Technologies by 8.3% in the second quarter. Clean Yield Group now owns 2,600 shares of the company’s stock worth $151,000 after buying an additional 200 shares during the period. Societe Generale acquired a new stake in Watts Water Technologies during the second quarter worth $180,000. Gray Financial Group GA ADV ADV acquired a new stake in Watts Water Technologies during the second quarter worth $191,000. Finally, Pacad Investment Ltd. acquired a new stake in Watts Water Technologies during the first quarter worth $204,000. Institutional investors own 81.96% of the company’s stock.
Watts Water Technologies Inc. (NYSE:WTS) opened at 62.50 on Tuesday. The firm has a 50-day moving average of $63.64 and a 200 day moving average of $60.03. Watts Water Technologies Inc. has a 52-week low of $44.51 and a 52-week high of $66.00. The firm’s market cap is $2.14 billion.
Watts Water Technologies (NYSE:WTS) last posted its earnings results on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. The business had revenue of $371.10 million for the quarter, compared to analysts’ expectations of $367.14 million. Watts Water Technologies had a negative net margin of 6.88% and a positive return on equity of 11.85%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, equities research analysts forecast that Watts Water Technologies Inc. will post $2.65 earnings per share for the current year.
A number of research firms have recently weighed in on WTS. Northcoast Research began coverage on Watts Water Technologies in a report on Friday, July 8th. They set a “neutral” rating on the stock. Janney Montgomery Scott began coverage on Watts Water Technologies in a report on Friday, September 16th. They set a “neutral” rating and a $63.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Watts Water Technologies presently has a consensus rating of “Hold” and a consensus target price of $61.40.
In other Watts Water Technologies news, insider Elie Melhem sold 5,192 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $62.44, for a total transaction of $324,188.48. Following the sale, the insider now directly owns 32,656 shares of the company’s stock, valued at $2,039,040.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kenneth Robert Lepage sold 31,362 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $64.53, for a total transaction of $2,023,789.86. Following the sale, the general counsel now directly owns 75,727 shares in the company, valued at $4,886,663.31. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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