Hanson & Doremus Investment Management maintained its position in shares of Watts Water Technologies Inc. (NYSE:WTS) during the second quarter, Holdings Channel reports. The fund owned 2,250 shares of the company’s stock at the end of the second quarter. Hanson & Doremus Investment Management’s holdings in Watts Water Technologies were worth $131,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of Montreal Can purchased a new position in Watts Water Technologies during the second quarter worth approximately $118,000. Clean Yield Group increased its position in Watts Water Technologies by 8.3% in the second quarter. Clean Yield Group now owns 2,600 shares of the company’s stock worth $151,000 after buying an additional 200 shares in the last quarter. Gray Financial Group GA ADV ADV purchased a new position in Watts Water Technologies during the second quarter worth approximately $191,000. Pacad Investment Ltd. purchased a new position in Watts Water Technologies during the first quarter worth approximately $204,000. Finally, Chilton Capital Management LLC purchased a new position in Watts Water Technologies during the first quarter worth approximately $235,000. 81.96% of the stock is owned by hedge funds and other institutional investors.
Watts Water Technologies Inc. (NYSE:WTS) traded down 0.08% during mid-day trading on Tuesday, reaching $62.45. The company had a trading volume of 17,671 shares. The company’s 50 day moving average is $63.64 and its 200 day moving average is $60.03. The stock’s market capitalization is $2.14 billion. Watts Water Technologies Inc. has a 52-week low of $44.51 and a 52-week high of $66.00.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. The business had revenue of $371.10 million for the quarter, compared to analyst estimates of $367.14 million. Watts Water Technologies had a positive return on equity of 11.85% and a negative net margin of 6.88%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. Equities analysts predict that Watts Water Technologies Inc. will post $2.65 earnings per share for the current year.
WTS has been the topic of a number of research analyst reports. Janney Montgomery Scott initiated coverage on Watts Water Technologies in a report on Friday, September 16th. They set a “neutral” rating and a $63.00 target price on the stock. Northcoast Research initiated coverage on Watts Water Technologies in a report on Friday, July 8th. They set a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $61.40.
In other news, General Counsel Kenneth Robert Lepage sold 31,362 shares of Watts Water Technologies stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $64.53, for a total value of $2,023,789.86. Following the transaction, the general counsel now directly owns 75,727 shares in the company, valued at $4,886,663.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elie Melhem sold 5,192 shares of Watts Water Technologies stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $62.44, for a total value of $324,188.48. Following the completion of the transaction, the insider now owns 32,656 shares in the company, valued at $2,039,040.64. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.