CAPROCK Group Inc. Takes Position in Watts Water Technologies, Inc. (NYSE:WTS)
CAPROCK Group Inc. purchased a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) during the second quarter, Holdings Channel reports. The firm purchased 6,065 shares of the technology company’s stock, valued at approximately $383,000.
Other large investors also recently made changes to their positions in the company. Great West Life Assurance Co. Can raised its stake in Watts Water Technologies by 3.4% in the second quarter. Great West Life Assurance Co. Can now owns 39,745 shares of the technology company’s stock worth $2,507,000 after buying an additional 1,289 shares during the last quarter. John G Ullman & Associates Inc. raised its stake in Watts Water Technologies by 1.4% in the second quarter. John G Ullman & Associates Inc. now owns 115,101 shares of the technology company’s stock worth $7,274,000 after buying an additional 1,610 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Watts Water Technologies by 32.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,410 shares of the technology company’s stock worth $531,000 after buying an additional 2,050 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Watts Water Technologies during the second quarter worth $202,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Watts Water Technologies during the second quarter worth $243,000. 77.73% of the stock is currently owned by institutional investors.
Shares of Watts Water Technologies, Inc. (WTS) opened at 66.20 on Friday. Watts Water Technologies, Inc. has a 1-year low of $58.35 and a 1-year high of $71.05. The stock has a 50 day moving average of $63.18 and a 200-day moving average of $62.97. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 25.86 and a beta of 1.07.
Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The firm had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $379.51 million. During the same quarter last year, the business earned $0.75 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Analysts forecast that Watts Water Technologies, Inc. will post $2.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Wednesday, August 30th. Watts Water Technologies’s dividend payout ratio is 29.69%.
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WTS has been the topic of a number of research reports. BidaskClub lowered shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Watts Water Technologies in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $64.50.
In other news, insider Elie Melhem sold 1,281 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $64.42, for a total value of $82,522.02. Following the transaction, the insider now owns 29,493 shares in the company, valued at $1,899,939.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.
About Watts Water Technologies
Watts Water Technologies, Inc 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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