State of New Jersey Common Pension Fund D Has $1.74 Million Stock Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

State of New Jersey Common Pension Fund D lowered its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 32.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,512 shares of the technology company’s stock after selling 4,554 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Watts Water Technologies were worth $1,744,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WTS. Rise Advisors LLC bought a new position in Watts Water Technologies during the first quarter valued at approximately $26,000. Gradient Investments LLC bought a new position in shares of Watts Water Technologies during the 2nd quarter valued at $31,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Watts Water Technologies by 502.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the technology company’s stock valued at $47,000 after purchasing an additional 186 shares during the last quarter. Blue Trust Inc. boosted its holdings in Watts Water Technologies by 520.5% in the second quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock worth $50,000 after purchasing an additional 229 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Watts Water Technologies during the first quarter worth $53,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Watts Water Technologies

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

Wall Street Analyst Weigh In

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

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $206.93 on Wednesday. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 2.80 and a beta of 0.89. The business has a 50 day moving average price of $194.52 and a 200 day moving average price of $197.61. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. Watts Water Technologies, Inc. has a twelve month low of $167.87 and a twelve month high of $219.52.

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

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.43 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 0.83%. Watts Water Technologies’s dividend payout ratio is 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.