Ameriprise Financial Inc. Sells 21,913 Shares of Watts Water Technologies Inc. (WTS)
Ameriprise Financial Inc. reduced its position in shares of Watts Water Technologies Inc. (NYSE:WTS) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316,083 shares of the company’s stock after selling 21,913 shares during the period. Ameriprise Financial Inc. owned approximately 0.92% of Watts Water Technologies worth $18,414,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Royce & Associates LP raised its position in Watts Water Technologies by 46.5% in the second quarter. Royce & Associates LP now owns 89,340 shares of the company’s stock valued at $5,205,000 after buying an additional 28,340 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Watts Water Technologies during the second quarter valued at about $420,000. KBC Group NV raised its position in Watts Water Technologies by 9.8% in the second quarter. KBC Group NV now owns 54,463 shares of the company’s stock valued at $3,173,000 after buying an additional 4,863 shares in the last quarter. Suntrust Banks Inc. bought a new position in Watts Water Technologies during the second quarter valued at about $228,000. Finally, Societe Generale bought a new position in Watts Water Technologies during the second quarter valued at about $180,000. Institutional investors and hedge funds own 82.11% of the company’s stock.
Watts Water Technologies Inc. (NYSE:WTS) traded down 0.02% during trading on Tuesday, reaching $61.85. The company had a trading volume of 77,179 shares. The firm’s 50 day moving average price is $63.78 and its 200 day moving average price is $58.66. Watts Water Technologies Inc. has a 12-month low of $44.51 and a 12-month high of $66.00. The firm’s market capitalization is $2.12 billion.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. The firm earned $371.10 million during the quarter, compared to analysts’ expectations of $367.14 million. Watts Water Technologies had a positive return on equity of 11.85% and a negative net margin of 6.88%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. Analysts anticipate that Watts Water Technologies Inc. will post $2.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.18 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.16%. Watts Water Technologies’s dividend payout ratio is presently -25.35%.
Several research firms have issued reports on WTS. Janney Montgomery Scott began coverage on Watts Water Technologies in a research note on Friday. They set a “neutral” rating and a $63.00 price objective for the company. Zacks Investment Research cut Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Monday, May 23rd. Northcoast Research started coverage on Watts Water Technologies in a report on Friday, July 8th. They set a “neutral” rating on the stock. TheStreet upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. Finally, Seaport Global Securities cut Watts Water Technologies from an “accumulate” rating to a “neutral” rating and set a $58.00 target price on the stock. in a report on Friday, June 10th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Watts Water Technologies has a consensus rating of “Hold” and an average price target of $61.40.
In other news, insider Elie Melhem sold 5,192 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $62.44, for a total transaction of $324,188.48. Following the completion of the transaction, the insider now owns 32,656 shares of the company’s stock, valued at approximately $2,039,040.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kenneth Robert Lepage sold 31,362 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $64.53, for a total value of $2,023,789.86. Following the transaction, the general counsel now directly owns 75,727 shares of the company’s stock, valued at approximately $4,886,663.31. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc (Watts) 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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