Zurcher Kantonalbank Zurich Cantonalbank Trims Stake in Watts Water Technologies (WTS)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Watts Water Technologies (NYSE:WTS) by 32.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,087 shares of the technology company’s stock after selling 30,867 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Watts Water Technologies were worth $5,057,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WTS. Wells Fargo & Company MN lifted its position in shares of Watts Water Technologies by 37.5% during the 3rd quarter. Wells Fargo & Company MN now owns 41,400 shares of the technology company’s stock valued at $2,864,000 after acquiring an additional 11,289 shares during the period. KAMES CAPITAL plc acquired a new position in shares of Watts Water Technologies during the 4th quarter worth approximately $1,486,000. Schwab Charles Investment Management Inc. raised its position in shares of Watts Water Technologies by 3.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 192,061 shares of the technology company’s stock worth $14,588,000 after purchasing an additional 6,984 shares during the last quarter. Ledyard National Bank raised its position in shares of Watts Water Technologies by 38.3% during the 4th quarter. Ledyard National Bank now owns 10,655 shares of the technology company’s stock worth $809,000 after purchasing an additional 2,950 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Watts Water Technologies by 4.7% during the 4th quarter. Wedge Capital Management L L P NC now owns 273,101 shares of the technology company’s stock worth $20,742,000 after purchasing an additional 12,165 shares during the last quarter. Institutional investors own 77.30% of the company’s stock.

Several brokerages recently issued reports on WTS. Robert W. Baird lifted their price objective on Watts Water Technologies to $80.00 and gave the stock a “neutral” rating in a research report on Monday, May 7th. Oppenheimer restated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, May 3rd. ValuEngine downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Zacks Investment Research upgraded Watts Water Technologies from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Friday, April 20th. Finally, Boenning Scattergood downgraded Watts Water Technologies from an “outperform” rating to a “neutral” rating in a research report on Wednesday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $81.40.

Shares of Watts Water Technologies stock opened at $76.65 on Friday. The company has a market cap of $2.59 billion, a P/E ratio of 25.38, a P/E/G ratio of 1.72 and a beta of 1.11. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 1.47. Watts Water Technologies has a 1 year low of $59.15 and a 1 year high of $84.25.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Thursday, May 3rd. The technology company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The firm had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $365.01 million. Watts Water Technologies had a net margin of 5.35% and a return on equity of 13.26%. Watts Water Technologies’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS. analysts forecast that Watts Water Technologies will post 3.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be paid a $0.21 dividend. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, May 31st. Watts Water Technologies’s payout ratio is presently 25.17%.

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 10,168 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $77.00, for a total value of $782,936.00. Following the completion of the sale, the insider now directly owns 39,832 shares of the company’s stock, valued at approximately $3,067,064. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Munish Nanda sold 6,953 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $75.66, for a total transaction of $526,063.98. Following the completion of the sale, the insider now directly owns 31,560 shares of the company’s stock, valued at $2,387,829.60. The disclosure for this sale can be found here. Insiders sold a total of 42,344 shares of company stock valued at $3,239,332 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Watts Water Technologies Profile

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

Want to see what other hedge funds are holding WTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watts Water Technologies (NYSE:WTS).

Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

Receive News & Ratings for Watts Water Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watts Water Technologies and related companies with MarketBeat.com's FREE daily email newsletter.




Leave a Reply