Charles Schwab Investment Management Inc. Reduces Holdings in Watts Water Technologies, Inc. $WTS

Charles Schwab Investment Management Inc. lessened its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 317,926 shares of the technology company’s stock after selling 3,417 shares during the period. Charles Schwab Investment Management Inc. owned 0.95% of Watts Water Technologies worth $78,175,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Watts Water Technologies by 0.6% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 10,796 shares of the technology company’s stock worth $2,655,000 after purchasing an additional 65 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of Watts Water Technologies by 0.8% in the second quarter. Johnson Investment Counsel Inc. now owns 9,416 shares of the technology company’s stock worth $2,315,000 after acquiring an additional 71 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Watts Water Technologies by 2.0% in the first quarter. Mackenzie Financial Corp now owns 4,172 shares of the technology company’s stock valued at $851,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Watts Water Technologies by 156.9% during the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock valued at $32,000 after acquiring an additional 80 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. boosted its stake in shares of 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 during the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Down 0.7%

Shares of NYSE WTS opened at $275.88 on Friday. The stock has a market capitalization of $9.20 billion, a PE ratio of 29.66, a P/E/G ratio of 3.27 and a beta of 1.17. 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 firm has a fifty day moving average of $275.30 and a 200-day moving average of $263.97. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $287.89.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The business had revenue of $611.70 million for the quarter, compared to analyst estimates of $576.20 million. During the same period last year, the company posted $2.03 EPS. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Watts Water Technologies has set its FY 2025 guidance at EPS. On average, analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 1st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. Watts Water Technologies’s payout ratio is presently 21.47%.

Insider Transactions at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 6,814 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total value of $1,855,588.48. Following the transaction, the insider owned 15,000 shares in the company, valued at approximately $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 15,000 shares of company stock worth $4,128,936. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on WTS. Wall Street Zen upgraded shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings restated a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, November 24th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Watts Water Technologies in a report on Friday, August 8th. Zacks Research lowered Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Barclays raised their price objective on Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $264.25.

Watts Water Technologies Company Profile

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.