State of Alaska Department of Revenue Trims Position in Watts Water Technologies, Inc. $WTS

State of Alaska Department of Revenue cut its position in Watts Water Technologies, Inc. (NYSE:WTS) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,082 shares of the technology company’s stock after selling 125 shares during the period. State of Alaska Department of Revenue’s holdings in Watts Water Technologies were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in shares of Watts Water Technologies by 214.5% in the second quarter. Public Employees Retirement System of Ohio now owns 909 shares of the technology company’s stock worth $224,000 after purchasing an additional 620 shares in the last quarter. Perpetual Ltd increased its stake in shares of Watts Water Technologies by 0.4% in the second quarter. Perpetual Ltd now owns 59,029 shares of the technology company’s stock worth $14,515,000 after purchasing an additional 212 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Watts Water Technologies during the second quarter valued at $343,000. Sivia Capital Partners LLC purchased a new position in Watts Water Technologies during the second quarter valued at $219,000. Finally, Ables Iannone Moore & Associates Inc. grew its stake in Watts Water Technologies by 2.3% during the second quarter. Ables Iannone Moore & Associates Inc. now owns 4,045 shares of the technology company’s stock valued at $995,000 after acquiring an additional 90 shares in the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on WTS. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Barclays began coverage on shares of Watts Water Technologies in a research note on Friday, September 19th. They set an “equal weight” rating and a $287.00 target price for the company. Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research note on Saturday, September 27th. Finally, Stifel Nicolaus raised their target price on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $253.80.

Watts Water Technologies Price Performance

WTS stock opened at $283.07 on Tuesday. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $287.89. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $275.46 and a two-hundred day simple moving average of $245.23. The firm has a market capitalization of $9.44 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 3.39 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, August 6th. The technology company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.68 by $0.41. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The business had revenue of $643.70 million during the quarter, compared to analyst estimates of $612.15 million. During the same quarter last year, the business earned $2.46 earnings per share. Watts Water Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 29th. Watts Water Technologies’s dividend payout ratio (DPR) is 22.37%.

Insider Activity

In other news, Director Joseph T. Noonan sold 713 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the sale, the director owned 1,194 shares in the company, valued at approximately $327,693.30. This trade represents a 37.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.