Cumberland Partners Ltd Grows Stock Position in Watts Water Technologies, Inc. $WTS

Cumberland Partners Ltd boosted its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 116.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,500 shares of the technology company’s stock after buying an additional 3,500 shares during the quarter. Cumberland Partners Ltd’s holdings in Watts Water Technologies were worth $1,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. MTM Investment Management LLC purchased a new position in shares of Watts Water Technologies during the 2nd quarter worth about $25,000. Cullen Frost Bankers Inc. lifted its stake in Watts Water Technologies by 156.9% in the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 80 shares during the last quarter. GAMMA Investing LLC lifted its stake in Watts Water Technologies by 31.6% in the third quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock worth $72,000 after purchasing an additional 62 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Watts Water Technologies by 474.6% during the second quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock valued at $83,000 after buying an additional 280 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Watts Water Technologies by 138.4% during the third quarter. Farther Finance Advisors LLC now owns 329 shares of the technology company’s stock valued at $92,000 after buying an additional 191 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Wall Street Analysts Forecast Growth

WTS has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on Watts Water Technologies in a report on Friday, December 12th. They set a “hold” rating and a $300.00 price objective for the company. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. KeyCorp upped their price target on shares of Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Stifel Nicolaus raised their price target on shares of Watts Water Technologies from $320.00 to $389.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, Robert W. Baird set a $361.00 price objective on shares of Watts Water Technologies in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $334.11.

Insiders Place Their Bets

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the transaction, the chief accounting officer owned 13,412 shares in the company, valued at $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Timothy P. Horne sold 6,814 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total transaction of $1,855,588.48. Following the sale, the insider directly owned 15,000 shares of the company’s stock, valued at approximately $4,084,800. The trade was a 31.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,386 shares of company stock worth $3,892,936 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Watts Water Technologies Stock Up 0.1%

NYSE:WTS opened at $329.92 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $345.17. The company has a 50-day moving average of $295.46 and a 200 day moving average of $282.41. The firm has a market cap of $11.00 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The business had revenue of $625.10 million during the quarter, compared to analyst estimates of $610.40 million. During the same quarter in the previous year, the business posted $2.05 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 1.9%. Watts Water Technologies’s payout ratio is 20.45%.

Watts Water Technologies Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.