Watts Water Technologies, Inc. (NYSE:WTS) Shares Sold by Comerica Bank

Comerica Bank decreased its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,839 shares of the technology company’s stock after selling 3,810 shares during the quarter. Comerica Bank owned about 0.16% of Watts Water Technologies worth $3,634,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WTS. Victory Capital Management Inc. grew its holdings in shares of Watts Water Technologies by 10.7% in the second quarter. Victory Capital Management Inc. now owns 597,983 shares of the technology company’s stock worth $37,793,000 after purchasing an additional 57,894 shares during the last quarter. AHL Partners LLP grew its holdings in shares of Watts Water Technologies by 47.6% in the second quarter. AHL Partners LLP now owns 60,511 shares of the technology company’s stock worth $3,824,000 after purchasing an additional 19,513 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Watts Water Technologies by 5.4% in the second quarter. Goldman Sachs Group Inc. now owns 719,108 shares of the technology company’s stock worth $45,448,000 after purchasing an additional 36,723 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Watts Water Technologies by 8.7% in the second quarter. Legal & General Group Plc now owns 54,436 shares of the technology company’s stock worth $3,440,000 after purchasing an additional 4,375 shares during the last quarter. Finally, Palisade Capital Management LLC NJ grew its holdings in shares of Watts Water Technologies by 10.5% in the third quarter. Palisade Capital Management LLC NJ now owns 201,205 shares of the technology company’s stock worth $13,923,000 after purchasing an additional 19,179 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors.

Several research analysts have issued reports on WTS shares. Stifel Nicolaus reiterated a “buy” rating and set a $79.00 target price on shares of Watts Water Technologies in a report on Friday, November 3rd. Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Monday, September 18th. Zacks Investment Research upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Tuesday, October 3rd. Boenning Scattergood reiterated a “buy” rating on shares of Watts Water Technologies in a report on Thursday, November 2nd. Finally, Robert W. Baird reiterated a “hold” rating and set a $71.00 target price on shares of Watts Water Technologies in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.83.

Watts Water Technologies, Inc. (NYSE WTS) traded up $0.25 during mid-day trading on Wednesday, hitting $73.40. 19,109 shares of the company’s stock traded hands, compared to its average volume of 127,459. The stock has a market capitalization of $2,533.78, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.06 and a beta of 1.15. Watts Water Technologies, Inc. has a 1-year low of $59.15 and a 1-year high of $75.28. The company has a current ratio of 2.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.03. The business had revenue of $347.70 million during the quarter, compared to analyst estimates of $361.22 million. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. sell-side analysts expect that Watts Water Technologies, Inc. will post 3.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Thursday, November 30th. Watts Water Technologies’s payout ratio is currently 28.15%.

In related news, insider Elie Melhem sold 2,545 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $70.48, for a total value of $179,371.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

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Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

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

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