State of New Jersey Common Pension Fund D Sells 1,448 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Posted by on Apr 27th, 2023

State of New Jersey Common Pension Fund D trimmed its position in shares of Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,926 shares of the technology company’s stock after selling 1,448 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Watts Water Technologies were worth $2,183,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WTS. American Century Companies Inc. grew its holdings in Watts Water Technologies by 12.9% during the 1st quarter. American Century Companies Inc. now owns 4,237 shares of the technology company’s stock valued at $591,000 after purchasing an additional 483 shares during the last quarter. US Bancorp DE grew its stake in Watts Water Technologies by 41.6% in the 1st quarter. US Bancorp DE now owns 881 shares of the technology company’s stock worth $123,000 after acquiring an additional 259 shares in the last quarter. Rhumbline Advisers grew its stake in Watts Water Technologies by 14.8% in the 1st quarter. Rhumbline Advisers now owns 79,951 shares of the technology company’s stock worth $11,160,000 after acquiring an additional 10,288 shares in the last quarter. Vontobel Holding Ltd. bought a new position in Watts Water Technologies in the 1st quarter worth about $2,395,000. Finally, Lord Abbett & CO. LLC bought a new position in Watts Water Technologies in the 1st quarter worth about $14,626,000. 74.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on WTS. TD Cowen upped their target price on shares of Watts Water Technologies from $120.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 5th. StockNews.com cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 5th. Robert W. Baird upped their price target on shares of Watts Water Technologies from $144.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, February 10th. The Goldman Sachs Group upped their price target on shares of Watts Water Technologies from $151.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, February 10th. Finally, Stifel Nicolaus upped their price target on shares of Watts Water Technologies from $145.00 to $146.00 and gave the stock a “hold” rating in a research report on Friday, January 20th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $145.00.

Watts Water Technologies Trading Down 2.0 %

NYSE:WTS opened at $156.57 on Thursday. Watts Water Technologies, Inc. has a 52 week low of $116.31 and a 52 week high of $181.40. The firm has a 50 day moving average of $166.45 and a 200 day moving average of $156.05. The company has a quick ratio of 1.52, a current ratio of 2.51 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.92 and a beta of 1.00.

Watts Water Technologies (NYSE:WTS – Get Rating) last posted its earnings results on Wednesday, February 8th. The technology company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. The company had revenue of $501.90 million during the quarter, compared to analysts’ expectations of $489.21 million. Watts Water Technologies had a net margin of 12.70% and a return on equity of 19.75%. Watts Water Technologies’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.42 earnings per share. As a group, sell-side analysts anticipate that Watts Water Technologies, Inc. will post 6.92 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.77%. Watts Water Technologies’s dividend payout ratio is currently 16.04%.

About Watts Water Technologies

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

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