Texas Permanent School Fund Corp Sells 3,469 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Texas Permanent School Fund Corp reduced its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 14.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,483 shares of the technology company's stock after selling 3,469 shares during the period. Texas Permanent School Fund Corp owned approximately 0.06% of Watts Water Technologies worth $3,756,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WTS. Perpetual Ltd boosted its position in Watts Water Technologies by 9.5% during the first quarter. Perpetual Ltd now owns 46,721 shares of the technology company's stock valued at $9,931,000 after buying an additional 4,068 shares during the period. Seven Eight Capital LP purchased a new stake in Watts Water Technologies in the first quarter worth about $1,366,000. Norden Group LLC grew its stake in shares of Watts Water Technologies by 1,826.3% in the 1st quarter. Norden Group LLC now owns 59,310 shares of the technology company's stock worth $12,606,000 after buying an additional 56,231 shares during the last quarter. Congress Asset Management Co. MA bought a new position in shares of Watts Water Technologies during the fourth quarter valued at $125,904,000. Finally, Banque Cantonale Vaudoise increased its stake in Watts Water Technologies by 1,968.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,509 shares of the technology company's stock valued at $958,000 after purchasing an additional 4,291 shares in the last quarter. Institutional investors own 95.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WTS. Robert W. Baird decreased their target price on Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating for the company in a research report on Friday, August 9th. Stifel Nicolaus lowered their target price on Watts Water Technologies from $217.00 to $202.00 and set a "hold" rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com upgraded Watts Water Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 16th.

Watts Water Technologies Price Performance

WTS stock traded up $2.07 during trading on Friday, reaching $194.51. The company's stock had a trading volume of 76,195 shares, compared to its average volume of 158,434. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The company's fifty day moving average is $192.12 and its 200-day moving average is $197.74. The company has a market capitalization of $6.49 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 2.76 and a beta of 0.89. Watts Water Technologies, Inc. has a 1 year low of $167.87 and a 1 year high of $219.52.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.13. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The company had revenue of $597.30 million for the quarter, compared to the consensus estimate of $589.55 million. During the same quarter last year, the company earned $2.34 EPS. The firm's quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that Watts Water Technologies, Inc. will post 8.71 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 0.88%. Watts Water Technologies's payout ratio is 21.34%.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the completion of the transaction, the insider now owns 11,516 shares in the company, valued at approximately $2,132,302.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the completion of the transaction, the insider now owns 11,516 shares in the company, valued at $2,132,302.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Dubose sold 315 shares of the business's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $185.93, for a total transaction of $58,567.95. Following the completion of the sale, the director now owns 2,755 shares in the company, valued at $512,237.15. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

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.