Watts Water Technologies, Inc. $WTS Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL lessened its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 439,752 shares of the technology company’s stock after selling 15,004 shares during the quarter. Watts Water Technologies makes up approximately 1.2% of Gamco Investors INC. ET AL’s holdings, making the stock its 11th largest holding. Gamco Investors INC. ET AL’s holdings in Watts Water Technologies were worth $122,814,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WTS. Geode Capital Management LLC grew its holdings in shares of Watts Water Technologies by 20.7% during the second quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock worth $197,728,000 after buying an additional 138,034 shares in the last quarter. First Trust Advisors LP boosted its position in Watts Water Technologies by 0.9% during the second quarter. First Trust Advisors LP now owns 545,724 shares of the technology company’s stock worth $134,188,000 after acquiring an additional 4,689 shares during the last quarter. Invesco Ltd. grew its stake in Watts Water Technologies by 16.5% in the 2nd quarter. Invesco Ltd. now owns 349,418 shares of the technology company’s stock worth $85,918,000 after acquiring an additional 49,462 shares during the period. Norges Bank acquired a new position in Watts Water Technologies in the 2nd quarter valued at $80,386,000. Finally, AQR Capital Management LLC raised its holdings in Watts Water Technologies by 148.3% in the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after acquiring an additional 165,837 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Trading Down 2.3%

WTS stock opened at $306.11 on Friday. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $345.17. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 2.85 and a beta of 1.23. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $305.63 and a 200-day simple moving average of $286.93.

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

Watts Water Technologies Announces Dividend

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

Insider Buying and Selling at Watts Water Technologies

In other news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total value of $5,258,562.46. Following the completion of the sale, the chief executive officer owned 191,202 shares of the company’s stock, valued at $62,582,326.62. This represents a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Timothy P. Horne sold 7,500 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the completion of the transaction, the insider directly owned 7,500 shares in the company, valued at approximately $2,475,300. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,196 shares of company stock valued at $9,514,741 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

WTS has been the topic of several analyst reports. Zacks Research cut Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. Wall Street Zen lowered Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Jefferies Financial Group started coverage on Watts Water Technologies in a report on Friday, December 12th. They issued a “hold” rating and a $300.00 price target for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $334.11.

About Watts Water Technologies

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.