Palisade Capital Management LLC NJ Has $16.82 Million Stake in Watts Water Technologies (WTS)

Palisade Capital Management LLC NJ cut its stake in Watts Water Technologies (NYSE:WTS) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,473 shares of the technology company’s stock after selling 1,959 shares during the quarter. Palisade Capital Management LLC NJ owned about 0.64% of Watts Water Technologies worth $16,820,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of Watts Water Technologies by 5.3% in the 4th quarter. Renaissance Technologies LLC now owns 299,800 shares of the technology company’s stock valued at $22,770,000 after acquiring an additional 15,065 shares during the period. Deutsche Bank AG increased its holdings in shares of Watts Water Technologies by 32.1% in the 4th quarter. Deutsche Bank AG now owns 336,741 shares of the technology company’s stock valued at $25,572,000 after acquiring an additional 81,845 shares during the period. Swiss National Bank increased its holdings in shares of Watts Water Technologies by 3.2% in the 4th quarter. Swiss National Bank now owns 45,000 shares of the technology company’s stock valued at $3,418,000 after acquiring an additional 1,400 shares during the period. First Trust Advisors LP increased its holdings in shares of Watts Water Technologies by 1.8% in the 4th quarter. First Trust Advisors LP now owns 93,529 shares of the technology company’s stock valued at $7,104,000 after acquiring an additional 1,620 shares during the period. Finally, Schroder Investment Management Group increased its holdings in shares of Watts Water Technologies by 58.6% in the 4th quarter. Schroder Investment Management Group now owns 89,389 shares of the technology company’s stock valued at $6,789,000 after acquiring an additional 33,029 shares during the period. Institutional investors and hedge funds own 76.30% of the company’s stock.

In other Watts Water Technologies news, insider Robert J. Pagano, Jr. sold 16,248 shares of Watts Water Technologies stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $76.89, for a total transaction of $1,249,308.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Timothy P. Horne sold 10,168 shares of Watts Water Technologies stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $77.00, for a total value of $782,936.00. Following the sale, the insider now directly owns 39,832 shares of the company’s stock, valued at approximately $3,067,064. The disclosure for this sale can be found here. Insiders sold a total of 29,865 shares of company stock valued at $2,298,197 in the last three months. Insiders own 1.10% of the company’s stock.

Watts Water Technologies opened at $78.55 on Tuesday, Marketbeat.com reports. The company has a quick ratio of 1.47, a current ratio of 2.40 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $2.64 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. Watts Water Technologies has a 1-year low of $59.15 and a 1-year high of $84.25.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Thursday, May 3rd. The technology company reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.03. The firm had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $365.01 million. Watts Water Technologies had a return on equity of 13.26% and a net margin of 5.35%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. equities research analysts expect that Watts Water Technologies will post 3.68 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a $0.21 dividend. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, May 31st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.07%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 25.17%.

WTS has been the topic of a number of analyst reports. TheStreet downgraded Watts Water Technologies from a “b+” rating to a “c+” rating in a report on Monday, February 12th. Zacks Investment Research upgraded Watts Water Technologies from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Saturday, February 10th. Janney Montgomery Scott upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 14th. Robert W. Baird reiterated a “hold” rating and issued a $80.00 price target on shares of Watts Water Technologies in a report on Wednesday, February 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $90.00 price target (down from $95.00) on shares of Watts Water Technologies in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $81.40.

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

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