Tudor Investment Corp ET AL Lowers Stock Position in Watts Water Technologies, Inc. $WTS

Tudor Investment Corp ET AL decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 37.3% during the third quarter, Holdings Channel.com reports. The fund owned 33,889 shares of the technology company’s stock after selling 20,185 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Watts Water Technologies were worth $9,465,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wexford Capital LP purchased a new position in shares of Watts Water Technologies during the 3rd quarter valued at $26,000. Advisory Services Network LLC purchased a new position in shares of Watts Water Technologies in the third quarter valued at about $29,000. Stance Capital LLC bought a new position in shares of Watts Water Technologies in the third quarter worth about $62,000. Allworth Financial LP grew its position in shares of Watts Water Technologies by 29.7% during the third quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock worth $71,000 after purchasing an additional 58 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Watts Water Technologies by 31.6% during the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after purchasing an additional 62 shares during the period. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Price Performance

NYSE:WTS opened at $289.56 on Monday. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49. The business has a 50 day simple moving average of $309.49 and a 200-day simple moving average of $288.59. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $345.17.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The company had revenue of $625.10 million during the quarter, compared to the consensus estimate of $610.40 million. During the same period last year, the company earned $2.05 earnings per share. Watts Water Technologies’s revenue was up 15.7% on a year-over-year basis. Equities analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. Watts Water Technologies’s payout ratio is currently 20.45%.

Analyst Upgrades and Downgrades

WTS has been the topic of several recent analyst reports. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Jefferies Financial Group assumed coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 price target on the stock. Wells Fargo & Company set a $275.00 price objective on Watts Water Technologies in a research report on Thursday, January 8th. Barclays lifted their target price on Watts Water Technologies from $300.00 to $323.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. Finally, The Goldman Sachs Group lifted their price objective on Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $334.11.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $327.31, for a total value of $5,258,562.46. Following the transaction, the chief executive officer owned 191,202 shares of the company’s stock, valued at $62,582,326.62. This represents a 7.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Dubose sold 332 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $301.70, for a total transaction of $100,164.40. Following the sale, the director directly owned 2,212 shares of the company’s stock, valued at $667,360.40. This represents a 13.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,674 shares of company stock worth $9,669,838 in the last three months. 1.00% of the stock is owned by insiders.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.