Gabelli Funds LLC Lowers Stock Position in Watts Water Technologies, Inc. (NYSE:WTS)

Gabelli Funds LLC trimmed its position in Watts Water Technologies, Inc. (NYSE:WTS) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,600 shares of the technology company’s stock after selling 3,700 shares during the quarter. Gabelli Funds LLC owned about 0.59% of Watts Water Technologies worth $36,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Watts Water Technologies by 1.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,050,215 shares of the technology company’s stock worth $375,948,000 after buying an additional 29,473 shares during the period. AE Wealth Management LLC raised its stake in Watts Water Technologies by 64.9% during the 2nd quarter. AE Wealth Management LLC now owns 71,555 shares of the technology company’s stock valued at $13,121,000 after purchasing an additional 28,170 shares during the period. Canada Pension Plan Investment Board purchased a new position in Watts Water Technologies in the 2nd quarter worth approximately $2,897,000. Benjamin F. Edwards & Company Inc. boosted its stake in Watts Water Technologies by 76.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 394 shares of the technology company’s stock worth $72,000 after purchasing an additional 171 shares during the period. Finally, Inspire Investing LLC grew its holdings in Watts Water Technologies by 14.0% during the 2nd quarter. Inspire Investing LLC now owns 1,968 shares of the technology company’s stock valued at $361,000 after buying an additional 242 shares in the last quarter. Institutional investors own 95.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WTS shares. StockNews.com upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Robert W. Baird decreased their price target on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Stifel Nicolaus dropped their price objective on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a report on Friday, August 9th.

Watts Water Technologies Stock Down 0.9 %

Shares of WTS opened at $205.04 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. Watts Water Technologies, Inc. has a 1 year low of $167.87 and a 1 year high of $219.52. The business’s 50 day simple moving average is $194.06 and its 200-day simple moving average is $197.65.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.33 by $0.13. Watts Water Technologies had a net margin of 12.44% and a return on equity of 19.22%. The business had revenue of $597.30 million during the quarter, compared to analyst estimates of $589.55 million. During the same quarter last year, the business earned $2.34 earnings per share. Watts Water Technologies’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that Watts Water Technologies, Inc. will post 8.71 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Friday, August 30th. Watts Water Technologies’s payout ratio is 21.34%.

Insider Buying and Selling

In other news, insider Elie Melhem sold 1,710 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the transaction, the insider now owns 11,516 shares of the company’s stock, valued at $2,132,302.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the transaction, the insider now owns 11,516 shares of the company’s stock, valued at approximately $2,132,302.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Dubose sold 315 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the transaction, the director now owns 2,755 shares in the company, valued at $512,237.15. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.