Watts Water Technologies, Inc. (WTS) Shares Bought by TimesSquare Capital Management LLC
TimesSquare Capital Management LLC increased its position in Watts Water Technologies, Inc. (NYSE:WTS) by 21.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 362,960 shares of the technology company’s stock after buying an additional 63,200 shares during the quarter. TimesSquare Capital Management LLC owned about 1.05% of Watts Water Technologies worth $22,939,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Glen Harbor Capital Management LLC lifted its holdings in shares of Watts Water Technologies by 12.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,960 shares of the technology company’s stock valued at $122,000 after buying an additional 224 shares during the period. Bank of Montreal Can lifted its holdings 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 period. Elkfork Partners LLC lifted its holdings in shares of Watts Water Technologies by 12.9% in the first quarter. Elkfork Partners LLC now owns 2,380 shares of the technology company’s stock valued at $148,000 after buying an additional 272 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Watts Water Technologies in the first quarter valued at $150,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Watts Water Technologies in the second quarter valued at $202,000. Institutional investors and hedge funds own 77.64% of the company’s stock.
Several brokerages have recently weighed in on WTS. Boenning Scattergood restated an “outperform” rating on shares of Watts Water Technologies in a report on Tuesday, September 5th. BidaskClub downgraded Watts Water Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $64.50.
In other news, insider Elie Melhem sold 3,306 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total value of $205,335.66. Following the transaction, the insider now directly owns 32,128 shares in the company, valued at approximately $1,995,470.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
Shares of Watts Water Technologies, Inc. (WTS) opened at 62.45 on Tuesday. The stock has a market capitalization of $2.14 billion, a P/E ratio of 24.39 and a beta of 1.06. 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 $63.48 and its 200 day moving average price is $62.75.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.04. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $379.51 million. During the same period last year, the company earned $0.75 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. On average, analysts forecast that Watts Water Technologies, Inc. will post $2.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.19 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. Watts Water Technologies’s dividend payout ratio is currently 29.69%.
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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