Quest Partners LLC Has $848,000 Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Quest Partners LLC cut its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 59.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,094 shares of the technology company’s stock after selling 6,026 shares during the quarter. Quest Partners LLC’s holdings in Watts Water Technologies were worth $848,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Natixis Advisors LLC grew its stake in Watts Water Technologies by 4.0% during the third quarter. Natixis Advisors LLC now owns 42,655 shares of the technology company’s stock worth $8,838,000 after purchasing an additional 1,631 shares during the period. Empowered Funds LLC grew its position in shares of Watts Water Technologies by 29.5% during the 3rd quarter. Empowered Funds LLC now owns 1,592 shares of the technology company’s stock worth $330,000 after buying an additional 363 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Watts Water Technologies by 1.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,238 shares of the technology company’s stock valued at $1,085,000 after acquiring an additional 65 shares in the last quarter. North Growth Management Ltd. lifted its position in shares of Watts Water Technologies by 13.9% during the 3rd quarter. North Growth Management Ltd. now owns 41,000 shares of the technology company’s stock valued at $8,431,000 after acquiring an additional 5,000 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in Watts Water Technologies by 8.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 10,291 shares of the technology company’s stock worth $2,132,000 after acquiring an additional 779 shares in the last quarter. Institutional investors own 95.02% of the company’s stock.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, CFO Shashank Patel sold 4,569 shares of Watts Water Technologies stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $209.10, for a total transaction of $955,377.90. Following the completion of the transaction, the chief financial officer now owns 15,635 shares of the company’s stock, valued at $3,269,278.50. The trade was a 22.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Monica Barry sold 1,559 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $212.52, for a total transaction of $331,318.68. Following the completion of the transaction, the insider now owns 4,430 shares of the company’s stock, valued at $941,463.60. This trade represents a 26.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,974 shares of company stock worth $6,924,594. Company insiders own 1.10% of the company’s stock.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $211.27 on Friday. Watts Water Technologies, Inc. has a 52 week low of $175.37 and a 52 week high of $219.52. The company’s 50 day moving average price is $204.31 and its two-hundred day moving average price is $197.77. The stock has a market cap of $7.04 billion, a P/E ratio of 25.33, a P/E/G ratio of 2.97 and a beta of 0.90. The company has a quick ratio of 1.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.04. The business had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.83 million. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.04 earnings per share. On average, equities analysts predict that Watts Water Technologies, Inc. will post 8.74 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 annualized dividend and a dividend yield of 0.81%. Watts Water Technologies’s payout ratio is 20.62%.

Wall Street Analysts Forecast Growth

WTS has been the topic of several research reports. StockNews.com upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Robert W. Baird cut their price target on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus decreased their price objective on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Watts Water Technologies presently has a consensus rating of “Hold” and a consensus price target of $200.25.

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.