California Public Employees Retirement System reduced its stake in shares of Watts Water Technologies Inc (NYSE:WTS) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,820 shares of the technology company’s stock after selling 2,122 shares during the quarter. California Public Employees Retirement System’s holdings in Watts Water Technologies were worth $4,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in shares of Watts Water Technologies by 9.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,605 shares of the technology company’s stock valued at $297,000 after buying an additional 389 shares during the period. First Trust Advisors LP lifted its stake in shares of Watts Water Technologies by 2.3% during the fourth quarter. First Trust Advisors LP now owns 166,213 shares of the technology company’s stock valued at $10,726,000 after buying an additional 3,730 shares during the period. BBT Capital Management LLC purchased a new position in shares of Watts Water Technologies during the fourth quarter valued at approximately $323,000. Piedmont Investment Advisors Inc. lifted its stake in shares of Watts Water Technologies by 3.2% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 6,608 shares of the technology company’s stock valued at $426,000 after buying an additional 207 shares during the period. Finally, Whittier Trust Co. purchased a new position in shares of Watts Water Technologies during the fourth quarter valued at approximately $90,000. Institutional investors own 75.89% of the company’s stock.

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 976 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $81.00, for a total transaction of $79,056.00. Following the transaction, the insider now owns 49,024 shares of the company’s stock, valued at $3,970,944. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Timothy P. Horne sold 10,142 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $79.57, for a total transaction of $806,998.94. Following the transaction, the insider now directly owns 2,358 shares in the company, valued at approximately $187,626.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,055 shares of company stock worth $5,707,415. 1.10% of the stock is currently owned by insiders.

NYSE:WTS opened at $79.00 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.25 and a debt-to-equity ratio of 0.36. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.94 and a beta of 1.22. Watts Water Technologies Inc has a fifty-two week low of $61.17 and a fifty-two week high of $93.35.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Thursday, February 7th. The technology company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $387.60 million for the quarter, compared to the consensus estimate of $382.33 million. Watts Water Technologies had a net margin of 7.97% and a return on equity of 14.71%. Watts Water Technologies’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. On average, equities analysts predict that Watts Water Technologies Inc will post 4.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, February 28th. Watts Water Technologies’s dividend payout ratio is currently 22.46%.

Several brokerages recently issued reports on WTS. Janney Montgomery Scott downgraded shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and upped their price objective for the company from $81.00 to $83.00 in a research note on Monday, February 11th. Oppenheimer reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Monday, February 11th. Finally, Seaport Global Securities raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 4th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $89.50.

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About Watts Water Technologies

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. The company 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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