Tortoise Index Solutions LLC Has $1.01 Million Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Tortoise Index Solutions LLC reduced its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 29.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,991 shares of the technology company's stock after selling 2,443 shares during the period. Tortoise Index Solutions LLC's holdings in Watts Water Technologies were worth $1,008,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. American Century Companies Inc. boosted its position in Watts Water Technologies by 12.9% during the first quarter. American Century Companies Inc. now owns 4,237 shares of the technology company's stock valued at $591,000 after purchasing an additional 483 shares during the last quarter. US Bancorp DE raised its position in Watts Water Technologies by 41.6% during the first quarter. US Bancorp DE now owns 881 shares of the technology company's stock worth $123,000 after acquiring an additional 259 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Watts Water Technologies by 14.8% in the 1st quarter. Rhumbline Advisers now owns 79,951 shares of the technology company's stock valued at $11,160,000 after purchasing an additional 10,288 shares during the period. Vontobel Holding Ltd. bought a new stake in Watts Water Technologies in the first quarter valued at approximately $2,395,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of Watts Water Technologies during the 1st quarter worth approximately $14,626,000. 75.06% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Joseph T. Noonan sold 2,490 shares of Watts Water Technologies stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $164.00, for a total transaction of $408,360.00. Following the completion of the transaction, the director now owns 3,172 shares of the company's stock, valued at $520,208. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Joseph T. Noonan sold 1,359 shares of the firm's stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $171.91, for a total value of $233,625.69. Following the transaction, the director now owns 1,813 shares in the company, valued at $311,672.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph T. Noonan sold 2,490 shares of the company's stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $164.00, for a total value of $408,360.00. Following the sale, the director now owns 3,172 shares of the company's stock, valued at approximately $520,208. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,414 shares of company stock worth $741,166. Company insiders own 1.10% of the company's stock.

Several brokerages recently commented on WTS. StockNews.com began coverage on shares of Watts Water Technologies in a report on Thursday, August 17th. They set a "buy" rating for the company. The Goldman Sachs Group raised their price target on shares of Watts Water Technologies from $171.00 to $189.00 and gave the stock a "neutral" rating in a research report on Friday, August 4th. Stifel Nicolaus boosted their price objective on shares of Watts Water Technologies from $177.00 to $182.00 and gave the company a "hold" rating in a report on Wednesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Watts Water Technologies from $174.00 to $175.00 in a research report on Monday, May 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $171.20.

Check Out Our Latest Analysis on WTS

Shares of WTS stock traded up $3.27 during trading hours on Monday, hitting $186.45. 4,526 shares of the company's stock traded hands, compared to its average volume of 117,105. The company has a quick ratio of 1.49, a current ratio of 2.53 and a debt-to-equity ratio of 0.07. Watts Water Technologies, Inc. has a 12 month low of $120.78 and a 12 month high of $192.93. The stock has a market cap of $6.22 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 3.17 and a beta of 1.02. The stock's 50 day simple moving average is $183.59 and its 200 day simple moving average is $173.03.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its earnings results on Wednesday, August 2nd. The technology company reported $2.34 EPS for the quarter, topping the consensus estimate of $2.05 by $0.29. The firm had revenue of $532.80 million for the quarter, compared to the consensus estimate of $529.93 million. Watts Water Technologies had a return on equity of 19.48% and a net margin of 13.43%. On average, sell-side analysts anticipate that Watts Water Technologies, Inc. will post 7.71 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.44 annualized dividend and a yield of 0.77%. Watts Water Technologies's payout ratio is 18.02%.

Watts Water Technologies, Inc 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. The company offers residential and commercial flow control and protection products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, thermostatic mixing valves, and leak detection and protection products for plumbing and hot water applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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