Truist Financial Corp Lowers Stock Position in Watts Water Technologies, Inc. (NYSE:WTS)

Truist Financial Corp reduced its position in Watts Water Technologies, Inc. (NYSE:WTS) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,615 shares of the technology company’s stock after selling 319 shares during the quarter. Truist Financial Corp’s holdings in Watts Water Technologies were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WTS. UMB Bank n.a. lifted its position in Watts Water Technologies by 59.8% during the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock valued at $32,000 after buying an additional 58 shares in the last quarter. Leavell Investment Management Inc. acquired a new position in shares of Watts Water Technologies during the 4th quarter valued at $205,000. Quantinno Capital Management LP purchased a new stake in Watts Water Technologies during the 3rd quarter worth $231,000. PFW Advisors LLC acquired a new stake in Watts Water Technologies in the 4th quarter valued at $233,000. Finally, FORA Capital LLC purchased a new position in Watts Water Technologies in the third quarter valued at about $235,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WTS. Stifel Nicolaus upped their target price on Watts Water Technologies from $218.00 to $219.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Watts Water Technologies in a report on Tuesday, December 17th. They issued a “hold” rating and a $240.00 price target for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Watts Water Technologies currently has an average rating of “Hold” and a consensus price target of $220.00.

Watts Water Technologies Trading Up 2.5 %

Shares of WTS opened at $209.67 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59. Watts Water Technologies, Inc. has a one year low of $175.37 and a one year high of $232.60. The stock has a 50-day moving average price of $208.76 and a 200 day moving average price of $205.68. The company has a market capitalization of $6.99 billion, a P/E ratio of 24.13, a P/E/G ratio of 3.42 and a beta of 0.93.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Monday, February 10th. The technology company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. Sell-side analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, February 28th. Watts Water Technologies’s payout ratio is currently 19.79%.

Watts Water Technologies Company 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.