Wesbanco Bank Inc. Increases Stock Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Wesbanco Bank Inc. boosted its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 7.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,809 shares of the technology company’s stock after buying an additional 200 shares during the quarter. Wesbanco Bank Inc.’s holdings in Watts Water Technologies were worth $571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Watts Water Technologies by 264.1% during the 4th quarter. SG Americas Securities LLC now owns 6,080 shares of the technology company’s stock valued at $1,236,000 after purchasing an additional 4,410 shares during the last quarter. Perpetual Ltd boosted its position in shares of Watts Water Technologies by 8.4% during the fourth quarter. Perpetual Ltd now owns 52,368 shares of the technology company’s stock valued at $10,646,000 after buying an additional 4,040 shares during the period. Ballentine Partners LLC bought a new position in shares of Watts Water Technologies during the fourth quarter valued at approximately $357,000. UMB Bank n.a. raised its holdings in shares of Watts Water Technologies by 59.8% in the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock worth $32,000 after buying an additional 58 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in shares of Watts Water Technologies by 19.6% during the 4th quarter. Park Avenue Securities LLC now owns 1,661 shares of the technology company’s stock worth $338,000 after acquiring an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

WTS stock opened at $210.52 on Friday. The firm has a 50-day simple moving average of $209.24 and a two-hundred day simple moving average of $201.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.55 and a current ratio of 2.55. Watts Water Technologies, Inc. has a one year low of $175.37 and a one year high of $222.70. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 3.45 and a beta of 0.93.

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 analysts’ consensus estimates of $1.99 by $0.04. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. The firm had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.83 million. During the same quarter last year, the firm earned $2.04 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Watts Water Technologies, Inc. will post 8.74 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, November 29th. Watts Water Technologies’s dividend payout ratio is currently 20.62%.

Analysts Set New Price Targets

A number of analysts have weighed in on WTS shares. Deutsche Bank Aktiengesellschaft assumed coverage on Watts Water Technologies in a research note on Tuesday, December 17th. They issued a “hold” rating and a $240.00 target price on the stock. Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Monday, November 4th. Finally, Stifel Nicolaus upped their target price on shares of Watts Water Technologies from $202.00 to $218.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $220.50.

Insider Activity

In other news, General Counsel Kenneth Robert Lepage sold 2,607 shares of Watts Water Technologies stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $212.72, for a total value of $554,561.04. Following the sale, the general counsel now owns 11,457 shares in the company, valued at $2,437,133.04. This trade represents a 18.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Monica Barry sold 1,559 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $212.52, for a total transaction of $331,318.68. Following the transaction, the insider now owns 4,430 shares of the company’s stock, valued at approximately $941,463.60. This trade represents a 26.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,974 shares of company stock valued at $6,924,594 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

About Watts Water Technologies

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.