Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) by 89.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,900 shares of the technology company’s stock after selling 15,800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Watts Water Technologies were worth $239,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in WTS. SeaCrest Wealth Management LLC acquired a new stake in Watts Water Technologies during the second quarter worth approximately $25,000. Covestor Ltd increased its stake in shares of Watts Water Technologies by 80.4% in the 1st quarter. Covestor Ltd now owns 184 shares of the technology company’s stock valued at $26,000 after acquiring an additional 82 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Watts Water Technologies during the 2nd quarter valued at $32,000. Private Trust Co. NA bought a new position in Watts Water Technologies during the second quarter worth $34,000. Finally, Quadrant Capital Group LLC grew its holdings in Watts Water Technologies by 256.3% in the third quarter. Quadrant Capital Group LLC now owns 310 shares of the technology company’s stock worth $39,000 after purchasing an additional 223 shares during the period. 74.85% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Watts Water Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $155.00 to $150.00 in a report on Tuesday, January 10th. They noted that the move was a valuation call. StockNews.com cut Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 6th. The Goldman Sachs Group upped their target price on Watts Water Technologies from $151.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, February 10th. Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $145.00 to $146.00 and gave the company a “hold” rating in a research report on Friday, January 20th. Finally, Robert W. Baird upped their price objective on shares of Watts Water Technologies from $144.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, February 10th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $147.50.
Watts Water Technologies Trading Down 0.7 %
Watts Water Technologies (NYSE:WTS – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The technology company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. Watts Water Technologies had a net margin of 12.70% and a return on equity of 19.75%. The company had revenue of $501.90 million for the quarter, compared to analyst estimates of $489.21 million. During the same period last year, the firm earned $1.42 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. On average, analysts predict that Watts Water Technologies, Inc. will post 6.83 EPS for the current fiscal year.
Watts Water Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Tuesday, February 28th. Watts Water Technologies’s dividend payout ratio is presently 16.04%.
About Watts Water Technologies
Watts Water Technologies, Inc engages in the manufacture and provision of products for water conservation, safety, and flow control. It operates through the following geographic segments: Americas, Europe, and Asia-Pacific, Middle East and Africa. Its services include plumbing and flow control solutions, water quality and conditioning, water reuse and drainage, heating, ventilation, and air conditioning, and municipal waterworks.
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