Texas Permanent School Fund trimmed its stake in Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,343 shares of the technology company’s stock after selling 1,296 shares during the period. Texas Permanent School Fund owned 0.06% of Watts Water Technologies worth $2,682,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of WTS. Zacks Investment Management increased its stake in Watts Water Technologies by 500.1% in the 3rd quarter. Zacks Investment Management now owns 10,970 shares of the technology company’s stock worth $1,379,000 after buying an additional 9,142 shares in the last quarter. Dupont Capital Management Corp increased its stake in Watts Water Technologies by 2.6% in the 4th quarter. Dupont Capital Management Corp now owns 7,377 shares of the technology company’s stock worth $1,079,000 after buying an additional 185 shares in the last quarter. Keybank National Association OH increased its stake in Watts Water Technologies by 3.5% in the 3rd quarter. Keybank National Association OH now owns 3,654 shares of the technology company’s stock worth $459,000 after buying an additional 124 shares in the last quarter. MQS Management LLC purchased a new stake in Watts Water Technologies in the 3rd quarter worth $414,000. Finally, Ellevest Inc. increased its stake in Watts Water Technologies by 34.0% in the 3rd quarter. Ellevest Inc. now owns 820 shares of the technology company’s stock worth $103,000 after buying an additional 208 shares in the last quarter. 74.85% of the stock is currently owned by hedge funds and other institutional investors.
Watts Water Technologies Stock Down 1.2 %
Shares of NYSE:WTS opened at $168.09 on Wednesday. The company has a current ratio of 2.56, a quick ratio of 1.55 and a debt-to-equity ratio of 0.11. Watts Water Technologies, Inc. has a 12 month low of $116.31 and a 12 month high of $181.40. The company has a 50-day moving average price of $164.28 and a 200 day moving average price of $158.71. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.97 and a beta of 1.00.
Watts Water Technologies Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a $0.36 dividend. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, May 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.86%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 15.38%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on WTS shares. TD Cowen increased their price target on 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. Deutsche Bank Aktiengesellschaft increased their price target on Watts Water Technologies from $174.00 to $175.00 in a research note on Monday. Stifel Nicolaus raised their price objective on Watts Water Technologies from $145.00 to $146.00 and gave the company a “hold” rating in a research report on Friday, January 20th. The Goldman Sachs Group raised their price objective on Watts Water Technologies from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, February 10th. Finally, Robert W. Baird raised their price objective on Watts Water Technologies from $144.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, February 10th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $148.57.
Insider Activity at Watts Water Technologies
In related news, CEO Robert J. Pagano, Jr. sold 9,254 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $169.76, for a total value of $1,570,959.04. Following the completion of the transaction, the chief executive officer now owns 175,970 shares of the company’s stock, valued at approximately $29,872,667.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.
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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