First Trust Advisors LP Sold 3,479 Shares of Watts Water Technologies Inc (WTS)

First Trust Advisors LP Sold 3,479 Shares of Watts Water Technologies Inc (WTS)

First Trust Advisors LP cut its position in Watts Water Technologies Inc (NYSE:WTS) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,807 shares of the technology company’s stock after selling 3,479 shares during the period. First Trust Advisors LP’s holdings in Watts Water Technologies were worth $5,849,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in Watts Water Technologies by 0.3% in the fourth quarter. AQR Capital Management LLC now owns 7,500 shares of the technology company’s stock worth $489,000 after buying an additional 19 shares during the period. State of Alaska Department of Revenue raised its stake in Watts Water Technologies by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 3,070 shares of the technology company’s stock worth $191,000 after buying an additional 50 shares during the period. Louisiana State Employees Retirement System raised its stake in Watts Water Technologies by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the technology company’s stock worth $705,000 after buying an additional 100 shares during the period. Bank of Montreal Can raised its stake in Watts Water Technologies by 8.8% in the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock worth $138,000 after buying an additional 180 shares during the period. Finally, Glen Harbor Capital Management LLC raised its stake in Watts Water Technologies by 12.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,960 shares of the technology company’s stock worth $122,000 after buying an additional 224 shares during the period. 81.74% of the stock is owned by institutional investors.

Watts Water Technologies Inc (NYSE WTS) traded up 0.88% on Wednesday, hitting $62.10. The stock had a trading volume of 84,457 shares. Watts Water Technologies Inc has a one year low of $54.37 and a one year high of $71.05. The stock’s 50 day moving average is $62.24 and its 200 day moving average is $64.23. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 23.88 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Thursday, May 4th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.05. Watts Water Technologies had a return on equity of 12.51% and a net margin of 6.02%. The business had revenue of $347.20 million for the quarter, compared to the consensus estimate of $343.79 million. During the same period in the prior year, the business earned $0.57 earnings per share. The business’s revenue was up .9% on a year-over-year basis. Analysts anticipate that Watts Water Technologies Inc will post $2.92 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Stockholders of record on Friday, June 2nd will be given a $0.19 dividend. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, May 31st. Watts Water Technologies’s dividend payout ratio is currently 29.51%.

A number of analysts recently weighed in on the stock. Goldman Sachs Group Inc assumed coverage on shares of Watts Water Technologies in a research note on Wednesday, March 8th. They issued a “neutral” rating and a $66.00 price objective for the company. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, May 4th. Finally, Zacks Investment Research raised shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. Six analysts have rated the stock with a hold rating, Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $62.33.

In related news, insider Elie Melhem sold 1,000 shares of the stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $61.75, for a total transaction of $61,750.00. Following the transaction, the insider now directly owns 30,039 shares in the company, valued at $1,854,908.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kenneth Robert Lepage sold 10,147 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $65.00, for a total value of $659,555.00. Following the transaction, the general counsel now owns 39,102 shares in the company, valued at $2,541,630. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

About Watts Water Technologies

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “WTS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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