Wedge Capital Management L L P NC Trims Holdings in Watts Water Technologies Inc (WTS)
Wedge Capital Management L L P NC trimmed its position in shares of Watts Water Technologies Inc (NYSE:WTS) by 95.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,578 shares of the technology company’s stock after selling 181,877 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Watts Water Technologies were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in WTS. Itau Unibanco Holding S.A. bought a new position in Watts Water Technologies during the second quarter valued at $102,000. Fort L.P. bought a new position in Watts Water Technologies during the second quarter valued at $108,000. Robeco Institutional Asset Management B.V. bought a new position in Watts Water Technologies during the second quarter valued at $212,000. Hartford Investment Management Co. bought a new position in Watts Water Technologies during the second quarter valued at $222,000. Finally, Xact Kapitalforvaltning AB grew its holdings in Watts Water Technologies by 27.2% during the first quarter. Xact Kapitalforvaltning AB now owns 3,744 shares of the technology company’s stock valued at $291,000 after purchasing an additional 800 shares during the period. 77.03% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on WTS. Northcoast Research reissued a “buy” rating and set a $105.00 price objective on shares of Watts Water Technologies in a report on Friday, August 3rd. Seaport Global Securities reaffirmed a “hold” rating and issued a $83.00 price target on shares of Watts Water Technologies in a report on Thursday, August 2nd. Stifel Nicolaus raised their price target on Watts Water Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Boenning Scattergood reaffirmed a “neutral” rating on shares of Watts Water Technologies in a report on Thursday, August 2nd. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $82.00 price target on shares of Watts Water Technologies in a report on Friday, July 20th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $90.80.
Watts Water Technologies stock opened at $74.96 on Friday. Watts Water Technologies Inc has a one year low of $67.29 and a one year high of $93.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.24 and a quick ratio of 1.38. The firm has a market capitalization of $2.62 billion, a PE ratio of 24.82, a P/E/G ratio of 1.88 and a beta of 1.16.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Friday, November 2nd. The technology company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.04. Watts Water Technologies had a return on equity of 14.43% and a net margin of 6.05%. The firm had revenue of $390.90 million during the quarter, compared to analyst estimates of $380.00 million. During the same period last year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts anticipate that Watts Water Technologies Inc will post 3.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, November 29th. Watts Water Technologies’s payout ratio is currently 27.81%.
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About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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