King Luther Capital Management Corp Decreases Stock Position in Watts Water Technologies, Inc. (NYSE:WTS)

King Luther Capital Management Corp lessened its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,724 shares of the technology company’s stock after selling 701 shares during the quarter. King Luther Capital Management Corp owned about 0.06% of Watts Water Technologies worth $3,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Perpetual Ltd raised its position in shares of Watts Water Technologies by 9.5% in the 1st quarter. Perpetual Ltd now owns 46,721 shares of the technology company’s stock valued at $9,931,000 after purchasing an additional 4,068 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Watts Water Technologies in the 1st quarter valued at approximately $1,366,000. Norden Group LLC raised its position in shares of Watts Water Technologies by 1,826.3% in the 1st quarter. Norden Group LLC now owns 59,310 shares of the technology company’s stock valued at $12,606,000 after purchasing an additional 56,231 shares in the last quarter. Congress Asset Management Co. MA acquired a new position in shares of Watts Water Technologies in the 4th quarter valued at approximately $125,904,000. Finally, Banque Cantonale Vaudoise raised its position in shares of Watts Water Technologies by 1,968.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 4,509 shares of the technology company’s stock valued at $958,000 after purchasing an additional 4,291 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael J. Dubose sold 315 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Elie Melhem sold 1,710 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the completion of 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 document filed with the SEC, which is available at the SEC website. Also, Director Michael J. Dubose sold 315 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now directly owns 2,755 shares of the company’s stock, valued at approximately $512,237.15. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com raised Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus dropped their price target on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, Robert W. Baird dropped their price target on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th.

Watts Water Technologies Stock Performance

WTS stock opened at $205.04 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.49 and a debt-to-equity ratio of 0.16. The firm has a market cap of $6.84 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.80 and a beta of 0.89. Watts Water Technologies, Inc. has a 12-month low of $167.87 and a 12-month high of $219.52. The stock’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 issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. The firm had revenue of $597.30 million during the quarter, compared to the consensus estimate of $589.55 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 EPS. As a group, equities research analysts predict that Watts Water Technologies, Inc. will post 8.71 EPS for the current year.

Watts Water Technologies Announces Dividend

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

Watts Water Technologies Profile

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.