Welch & Forbes LLC reduced its position in Watts Water Technologies Inc (NYSE:WTS) by 5.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,070 shares of the technology company’s stock after selling 816 shares during the quarter. Welch & Forbes LLC’s holdings in Watts Water Technologies were worth $973,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. We Are One Seven LLC acquired a new stake in shares of Watts Water Technologies in the fourth quarter valued at approximately $32,000. Quantamental Technologies LLC purchased a new stake in shares of Watts Water Technologies during the fourth quarter worth approximately $52,000. Clean Yield Group purchased a new stake in shares of Watts Water Technologies during the fourth quarter worth approximately $88,000. ETF Managers Group LLC raised its stake in shares of Watts Water Technologies by 15.7% during the fourth quarter. ETF Managers Group LLC now owns 1,677 shares of the technology company’s stock worth $108,000 after purchasing an additional 228 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Watts Water Technologies during the third quarter worth approximately $135,000. 78.42% of the stock is owned by institutional investors and hedge funds.

In other news, insider Elie Melhem sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $74.42, for a total value of $74,420.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Several research firms have recently commented on WTS. Seaport Global Securities upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 4th. Oppenheimer reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Monday. Janney Montgomery Scott cut Watts Water Technologies from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $81.00 to $83.00 in a research report on Monday. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Monday, November 5th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $89.50.

NYSE:WTS traded up $0.54 during trading hours on Tuesday, hitting $79.24. The company’s stock had a trading volume of 774 shares, compared to its average volume of 118,368. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 1.81 and a beta of 1.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.25 and a current ratio of 2.07. Watts Water Technologies Inc has a 52-week low of $61.17 and a 52-week high of $93.35.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Thursday, February 7th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.01. The firm had revenue of $387.60 million during the quarter, compared to analysts’ expectations of $382.33 million. Watts Water Technologies had a return on equity of 14.72% and a net margin of 7.97%. Watts Water Technologies’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, analysts predict that Watts Water Technologies Inc will post 4.11 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, February 28th. Watts Water Technologies’s dividend payout ratio is currently 22.46%.

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Watts Water Technologies Company Profile

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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Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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