Watts Water Technologies, Inc. (NYSE:WTS) Stake Reduced by Capstone Asset Management Co.
Capstone Asset Management Co. reduced its position in Watts Water Technologies, Inc. (NYSE:WTS) by 9.4% during the second quarter, Holdings Channel reports. The institutional investor owned 5,086 shares of the technology company’s stock after selling 530 shares during the period. Capstone Asset Management Co.’s holdings in Watts Water Technologies were worth $321,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Great West Life Assurance Co. Can raised its position in shares of Watts Water Technologies by 6.7% in the first quarter. Great West Life Assurance Co. Can now owns 38,456 shares of the technology company’s stock worth $2,395,000 after buying an additional 2,415 shares in the last quarter. Wells Fargo & Company MN increased its stake in Watts Water Technologies by 4.0% in the first quarter. Wells Fargo & Company MN now owns 31,541 shares of the technology company’s stock valued at $1,967,000 after buying an additional 1,227 shares during the last quarter. NJ State Employees Deferred Compensation Plan bought a new stake in Watts Water Technologies during the first quarter valued at $374,000. John G Ullman & Associates Inc. increased its stake in Watts Water Technologies by 45.6% in the first quarter. John G Ullman & Associates Inc. now owns 113,491 shares of the technology company’s stock valued at $7,076,000 after buying an additional 35,566 shares during the last quarter. Finally, Glen Harbor Capital Management LLC increased its stake in Watts Water Technologies by 12.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,960 shares of the technology company’s stock valued at $122,000 after buying an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 77.97% of the company’s stock.
Watts Water Technologies, Inc. (WTS) traded down 0.23% during midday trading on Friday, hitting $63.90. 139,845 shares of the stock traded hands. The company has a 50-day moving average of $63.80 and a 200-day moving average of $63.07. The stock has a market cap of $2.18 billion, a PE ratio of 24.96 and a beta of 1.07. Watts Water Technologies, Inc. has a 1-year low of $58.35 and a 1-year high of $71.05.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $379.51 million. During the same period in the prior year, the firm earned $0.75 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that Watts Water Technologies, Inc. will post $2.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 29.69%.
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Several research firms have recently weighed in on WTS. BidaskClub downgraded shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Watts Water Technologies in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Watts Water Technologies has an average rating of “Hold” and a consensus price target of $64.50.
In other Watts Water Technologies news, insider Elie Melhem sold 1,281 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 29,493 shares of the company’s stock, valued at approximately $1,899,939.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate 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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