IndexIQ Advisors LLC lessened its position in Watts Water Technologies Inc (NYSE:WTS) by 7.6% in the 1st quarter, Holdings Channel reports. The fund owned 2,824 shares of the technology company’s stock after selling 231 shares during the period. IndexIQ Advisors LLC’s holdings in Watts Water Technologies were worth $228,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Watts Water Technologies by 70.0% during the 4th quarter. FMR LLC now owns 425 shares of the technology company’s stock valued at $27,000 after buying an additional 175 shares in the last quarter. We Are One Seven LLC bought a new stake in Watts Water Technologies during the 4th quarter valued at about $32,000. Strs Ohio bought a new stake in Watts Water Technologies during the 1st quarter valued at about $32,000. Quantamental Technologies LLC bought a new stake in Watts Water Technologies during the 4th quarter valued at about $52,000. Finally, Quadrant Capital Group LLC lifted its holdings in Watts Water Technologies by 2,908.7% during the 1st quarter. Quadrant Capital Group LLC now owns 692 shares of the technology company’s stock valued at $54,000 after buying an additional 669 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.
A number of brokerages recently weighed in on WTS. Zacks Investment Research upgraded shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Stifel Nicolaus lifted their price objective on shares of Watts Water Technologies from $88.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer restated a “hold” rating on shares of Watts Water Technologies in a report on Monday, February 11th. Finally, Janney Montgomery Scott lowered shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and boosted their price target for the company from $81.00 to $83.00 in a report on Monday, February 11th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $89.50.
Shares of Watts Water Technologies stock opened at $82.26 on Thursday. The company has a current ratio of 2.27, a quick ratio of 1.35 and a debt-to-equity ratio of 0.38. Watts Water Technologies Inc has a 52-week low of $61.17 and a 52-week high of $93.35. The company has a market capitalization of $2.83 billion, a PE ratio of 21.59, a PEG ratio of 2.06 and a beta of 1.22.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. Watts Water Technologies had a net margin of 8.10% and a return on equity of 14.93%. The firm had revenue of $388.70 million for the quarter, compared to the consensus estimate of $388.77 million. During the same quarter in the previous year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts expect that Watts Water Technologies Inc will post 4.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.21. Watts Water Technologies’s payout ratio is presently 22.46%.
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. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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