Watts Water Technologies, Inc. (NYSE:WTS) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,000 shares of the technology company's stock after selling 1,500 shares during the quarter. Gabelli Funds LLC owned 0.58% of Watts Water Technologies worth $39,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Watts Water Technologies during the fourth quarter worth about $60,887,000. Raymond James Financial Inc. bought a new stake in Watts Water Technologies during the 4th quarter worth $23,044,000. Wealthfront Advisers LLC bought a new position in Watts Water Technologies in the 4th quarter valued at approximately $9,773,000. Boston Partners grew its stake in shares of Watts Water Technologies by 7.6% in the fourth quarter. Boston Partners now owns 632,155 shares of the technology company's stock worth $128,527,000 after purchasing an additional 44,465 shares during the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of Watts Water Technologies by 122.9% in the fourth quarter. Retirement Systems of Alabama now owns 74,194 shares of the technology company's stock valued at $15,084,000 after buying an additional 40,912 shares during the period. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Price Performance

Shares of WTS traded down $0.13 during trading hours on Friday, reaching $197.32. 199,559 shares of the stock traded hands, compared to its average volume of 168,273. The company has a market cap of $6.57 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 3.42 and a beta of 0.95. The company's 50-day moving average price is $206.41 and its two-hundred day moving average price is $207.03. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $232.60. The company has a current ratio of 2.59, a quick ratio of 1.65 and a debt-to-equity ratio of 0.12.

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 for the quarter, beating the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. On average, analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, insider Elie Melhem sold 4,397 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total transaction of $925,700.41. Following the completion of the sale, the insider now owns 10,469 shares in the company, valued at $2,204,038.57. This represents a 29.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company's stock.

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.