Gamco Investors INC. ET AL Reduces Holdings in Watts Water Technologies, Inc. $WTS

Gamco Investors INC. ET AL decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 439,752 shares of the technology company’s stock after selling 15,004 shares during the period. Watts Water Technologies accounts for approximately 1.2% of Gamco Investors INC. ET AL’s portfolio, making the stock its 11th biggest holding. Gamco Investors INC. ET AL owned about 1.32% of Watts Water Technologies worth $122,814,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WTS. MTM Investment Management LLC purchased a new stake in Watts Water Technologies in the 2nd quarter valued at $25,000. GAMMA Investing LLC boosted its stake in Watts Water Technologies by 31.6% during the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock worth $72,000 after purchasing an additional 62 shares during the period. EverSource Wealth Advisors LLC grew its position in Watts Water Technologies by 474.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock worth $83,000 after purchasing an additional 280 shares during the last quarter. Farther Finance Advisors LLC grew its position in Watts Water Technologies by 138.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 329 shares of the technology company’s stock worth $92,000 after purchasing an additional 191 shares during the last quarter. Finally, Reyes Financial Architecture Inc. acquired a new position in Watts Water Technologies in the third quarter valued at $98,000. 95.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 7,500 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $330.04, for a total value of $2,475,300.00. Following the sale, the insider directly owned 7,500 shares in the company, valued at $2,475,300. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the transaction, the chief executive officer directly owned 191,202 shares of the company’s stock, valued at approximately $62,582,326.62. This trade represents a 7.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,196 shares of company stock worth $9,514,741 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WTS. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $339.00 target price on shares of Watts Water Technologies in a research note on Friday, February 13th. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. Barclays lifted their target price on Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Finally, Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a research note on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Watts Water Technologies has an average rating of “Hold” and a consensus price target of $334.11.

Watts Water Technologies Trading Down 2.3%

Shares of WTS opened at $306.11 on Friday. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $345.17. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $10.21 billion, a P/E ratio of 30.10, a PEG ratio of 2.85 and a beta of 1.23. The firm’s 50-day moving average is $305.63 and its two-hundred day moving average is $286.93.

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

Watts Water Technologies Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.52 dividend. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, February 27th. Watts Water Technologies’s dividend payout ratio is 20.45%.

Watts Water Technologies Profile

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.