Denver Investment Advisors LLC Sells 91,763 Shares of Watts Water Technologies, Inc. (WTS)
Denver Investment Advisors LLC lowered its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 30.1% during the second quarter, Holdings Channel reports. The fund owned 213,205 shares of the technology company’s stock after selling 91,763 shares during the period. Denver Investment Advisors LLC’s holdings in Watts Water Technologies were worth $13,474,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in shares of Watts Water Technologies by 0.3% in the fourth quarter. AQR Capital Management LLC now owns 7,500 shares of the technology company’s stock valued at $489,000 after buying an additional 19 shares during the last quarter. Norges Bank purchased a new stake in shares of Watts Water Technologies during the fourth quarter valued at $12,800,000. Teachers Advisors LLC raised its stake in shares of Watts Water Technologies by 4.1% in the fourth quarter. Teachers Advisors LLC now owns 45,946 shares of the technology company’s stock valued at $2,996,000 after buying an additional 1,823 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Watts Water Technologies by 8.8% in the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock valued at $138,000 after buying an additional 180 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of Watts Water Technologies by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the technology company’s stock valued at $705,000 after buying an additional 100 shares during the last quarter. 77.68% of the stock is currently owned by institutional investors.
Shares of Watts Water Technologies, Inc. (NYSE WTS) opened at 64.50 on Wednesday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 25.20 and a beta of 1.07. Watts Water Technologies, Inc. has a one year low of $58.35 and a one year high of $71.05. The stock’s 50 day moving average price is $63.96 and its 200 day moving average price is $63.05.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. The company had revenue of $378.50 million for the quarter, compared to analyst estimates of $379.51 million. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. On average, equities analysts anticipate that Watts Water Technologies, Inc. will post $2.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.18%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 29.69%.
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WTS has been the topic of several recent research reports. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Watts Water Technologies in a report on Thursday, May 4th. BidaskClub raised Watts Water Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $64.50.
In other news, insider Elie Melhem sold 1,281 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $64.42, for a total transaction of $82,522.02. Following the transaction, the insider now owns 29,493 shares in the company, valued at $1,899,939.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company 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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