Birch Hill Investment Advisors LLC Acquires 11,132 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Birch Hill Investment Advisors LLC boosted its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,374 shares of the technology company’s stock after purchasing an additional 11,132 shares during the quarter. Watts Water Technologies comprises approximately 1.5% of Birch Hill Investment Advisors LLC’s holdings, making the stock its 24th largest position. Birch Hill Investment Advisors LLC owned about 0.47% of Watts Water Technologies worth $32,399,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WTS. Rise Advisors LLC bought a new stake in Watts Water Technologies during the 1st quarter valued at approximately $26,000. HWG Holdings LP bought a new stake in shares of Watts Water Technologies in the 2nd quarter worth approximately $28,000. Gradient Investments LLC bought a new stake in shares of Watts Water Technologies in the 2nd quarter worth approximately $31,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Watts Water Technologies by 502.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the technology company’s stock worth $47,000 after acquiring an additional 186 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Watts Water Technologies by 520.5% in the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock worth $50,000 after acquiring an additional 229 shares during the period. Institutional investors own 95.02% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Robert W. Baird reduced their price objective 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. StockNews.com upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus reduced their price objective on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research report on Friday, August 9th.

Watts Water Technologies Trading Up 1.5 %

Shares of WTS opened at $207.36 on Friday. Watts Water Technologies, Inc. has a 1 year low of $167.87 and a 1 year high of $219.52. The company has a current ratio of 2.50, a quick ratio of 1.49 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $195.77 and a 200-day simple moving average of $197.68. The stock has a market cap of $6.92 billion, a PE ratio of 25.17, a PEG ratio of 2.93 and a beta of 0.89.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $589.55 million. During the same period in the prior year, the firm posted $2.34 EPS. Watts Water Technologies’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that Watts Water Technologies, Inc. will post 8.71 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a yield of 0.83%. Watts Water Technologies’s dividend payout ratio is 20.87%.

Insider Activity at Watts Water Technologies

In related news, Director Michael J. Dubose sold 315 shares of the firm’s stock in a transaction on 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 directly owns 2,755 shares of the company’s stock, valued at $512,237.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the transaction, the insider now directly owns 11,516 shares in the company, valued at approximately $2,132,302.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Dubose sold 315 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares in the company, valued at $512,237.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.