Watts Water Technologies, Inc. (NYSE:WTS) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL cut its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 467,251 shares of the technology company's stock after selling 14,080 shares during the period. Watts Water Technologies comprises about 1.0% of Gamco Investors INC. ET AL's holdings, making the stock its 14th biggest holding. Gamco Investors INC. ET AL owned 1.40% of Watts Water Technologies worth $94,992,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in shares of Watts Water Technologies by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 267,439 shares of the technology company's stock worth $55,411,000 after purchasing an additional 12,159 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Watts Water Technologies by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 319,703 shares of the technology company's stock worth $64,996,000 after buying an additional 3,296 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Watts Water Technologies by 35.2% during the fourth quarter. Van ECK Associates Corp now owns 23,507 shares of the technology company's stock valued at $4,779,000 after acquiring an additional 6,125 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Watts Water Technologies by 264.1% in the fourth quarter. SG Americas Securities LLC now owns 6,080 shares of the technology company's stock valued at $1,236,000 after acquiring an additional 4,410 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Watts Water Technologies by 9.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,225 shares of the technology company's stock worth $16,716,000 after acquiring an additional 7,150 shares during the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Stifel Nicolaus raised shares of Watts Water Technologies from a "hold" rating to a "buy" rating and raised their price target for the stock from $219.00 to $229.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $222.00.

Watts Water Technologies Trading Down 0.1 %

Shares of WTS traded down $0.13 during midday trading on Friday, reaching $197.32. The company had a trading volume of 199,559 shares, compared to its average volume of 167,695. Watts Water Technologies, Inc. has a 1-year low of $175.37 and a 1-year high of $232.60. The company has a quick ratio of 1.65, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. The firm has a 50 day simple moving average of $206.41 and a 200-day simple moving average of $207.04. The stock has a market cap of $6.57 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 3.42 and a beta of 0.95.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. Research analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.43 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 0.87%. Watts Water Technologies's payout ratio is 19.79%.

Insiders Place Their Bets

In other news, insider Elie Melhem sold 4,397 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total value of $925,700.41. Following the transaction, the insider now directly owns 10,469 shares in the company, valued at approximately $2,204,038.57. This represents a 29.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.

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.