Tudor Investment Corp ET AL Decreases Holdings in Watts Water Technologies, Inc. $WTS

Tudor Investment Corp ET AL lowered its position in Watts Water Technologies, Inc. (NYSE:WTS) by 37.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,889 shares of the technology company’s stock after selling 20,185 shares during the quarter. Tudor Investment Corp ET AL owned 0.10% of Watts Water Technologies worth $9,465,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in Watts Water Technologies by 2.2% in the 3rd quarter. Boston Partners now owns 907,336 shares of the technology company’s stock worth $253,211,000 after buying an additional 19,247 shares in the last quarter. Invesco Ltd. lifted its holdings in Watts Water Technologies by 34.4% in the 3rd quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after buying an additional 120,090 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Watts Water Technologies by 17.5% in the 3rd quarter. AQR Capital Management LLC now owns 326,139 shares of the technology company’s stock worth $90,226,000 after buying an additional 48,470 shares in the last quarter. Port Capital LLC lifted its holdings in Watts Water Technologies by 1.0% in the 3rd quarter. Port Capital LLC now owns 251,206 shares of the technology company’s stock worth $70,157,000 after buying an additional 2,378 shares in the last quarter. Finally, UBS Group AG lifted its holdings in Watts Water Technologies by 223.0% in the 3rd quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after buying an additional 139,637 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock opened at $287.86 on Tuesday. The firm has a market cap of $9.60 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.62 and a beta of 1.27. The firm’s 50-day simple moving average is $308.49 and its 200-day simple moving average is $289.37. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $345.17.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. The business had revenue of $625.10 million for the quarter, compared to analyst estimates of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 EPS. Equities analysts forecast that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a dividend of $0.52 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, February 27th. Watts Water Technologies’s dividend payout ratio is currently 20.45%.

Insider Buying and Selling at Watts Water Technologies

In related news, General Counsel Kenneth Robert Lepage sold 5,025 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the completion of the sale, the general counsel owned 12,284 shares of the company’s stock, valued at $3,944,146.72. This represents a 29.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Dubose sold 332 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $301.70, for a total transaction of $100,164.40. Following the sale, the director directly owned 2,212 shares of the company’s stock, valued at approximately $667,360.40. This represents a 13.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 29,674 shares of company stock worth $9,669,838. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th. Robert W. Baird set a $361.00 price objective on shares of Watts Water Technologies in a report on Friday, February 13th. KeyCorp boosted their price objective on shares of Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, Wells Fargo & Company set a $275.00 target price on shares of Watts Water Technologies in a research note on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Watts Water Technologies has a consensus rating of “Hold” and an average price target of $334.11.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.