Thrivent Financial For Lutherans Has $1.06 Million Stake in Watts Water Technologies, Inc. (WTS)
Thrivent Financial For Lutherans increased its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 7.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,840 shares of the technology company’s stock after acquiring an additional 1,140 shares during the period. Thrivent Financial For Lutherans’ holdings in Watts Water Technologies were worth $1,064,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Laurion Capital Management LP acquired a new stake in shares of Watts Water Technologies in the second quarter valued at $506,000. Stevens Capital Management LP acquired a new stake in shares of Watts Water Technologies in the second quarter valued at $300,000. Amalgamated Bank raised its stake in shares of Watts Water Technologies by 3.5% in the second quarter. Amalgamated Bank now owns 3,813 shares of the technology company’s stock valued at $241,000 after acquiring an additional 128 shares in the last quarter. Bruderman Asset Management LLC acquired a new stake in shares of Watts Water Technologies in the second quarter valued at $130,000. Finally, Nationwide Fund Advisors raised its stake in shares of Watts Water Technologies by 0.8% in the second quarter. Nationwide Fund Advisors now owns 17,452 shares of the technology company’s stock valued at $1,103,000 after acquiring an additional 131 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.
In other Watts Water Technologies news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $62.11, for a total value of $205,335.66. Following the completion of the transaction, the insider now directly owns 32,128 shares of the company’s stock, valued at approximately $1,995,470.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.
Shares of Watts Water Technologies, Inc. (NYSE WTS) opened at 69.45 on Friday. Watts Water Technologies, Inc. has a 1-year low of $58.35 and a 1-year high of $71.05. The firm has a 50-day moving average price of $65.18 and a 200-day moving average price of $63.42. The firm has a market capitalization of $2.37 billion, a PE ratio of 27.13 and a beta of 1.08.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $379.51 million. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. On average, analysts forecast that Watts Water Technologies, Inc. will post $2.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.19 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 1.09%. Watts Water Technologies’s payout ratio is currently 29.69%.
WTS has been the topic of several analyst reports. Cowen and Company reiterated a “hold” rating and issued a $58.00 price objective on shares of Watts Water Technologies in a research note on Thursday, September 28th. BidaskClub cut Watts Water Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research cut Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus initiated coverage on Watts Water Technologies in a research note on Monday, September 18th. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $70.83.
Watts Water Technologies Profile
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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