Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases New Shares in Watts Water Technologies, Inc. $WTS

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 10,339 shares of the technology company’s stock, valued at approximately $2,854,000.

Other large investors have also added to or reduced their stakes in the company. Wexford Capital LP acquired a new stake in Watts Water Technologies during the 3rd quarter valued at $26,000. Advisory Services Network LLC bought a new position in Watts Water Technologies during the 3rd quarter valued at $29,000. Stance Capital LLC bought a new position in Watts Water Technologies during the 3rd quarter valued at $62,000. Allworth Financial LP boosted its stake in Watts Water Technologies by 29.7% during the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock valued at $71,000 after acquiring an additional 58 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Watts Water Technologies by 144.5% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 291 shares of the technology company’s stock valued at $81,000 after acquiring an additional 172 shares during the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on WTS shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $358.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. KeyCorp increased their price objective on shares of Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. Barclays reduced their price objective on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Finally, Stifel Nicolaus set a $379.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $329.44.

Insider Transactions at Watts Water Technologies

In other news, Director Michael J. Dubose sold 332 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $301.70, for a total value of $100,164.40. Following the transaction, the director directly owned 2,212 shares in the company, valued at approximately $667,360.40. This trade represents a 13.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the transaction, the insider owned 8,963 shares in the company, valued at approximately $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 10,840 shares of company stock worth $3,477,205. 1.00% of the stock is currently owned by insiders.

Watts Water Technologies Trading Up 1.2%

Watts Water Technologies stock opened at $299.49 on Thursday. The firm’s 50-day moving average is $297.70 and its 200-day moving average is $294.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. Watts Water Technologies, Inc. has a 1 year low of $235.14 and a 1 year high of $345.17. The company has a market cap of $10.00 billion, a P/E ratio of 27.40, a PEG ratio of 2.63 and a beta of 1.20.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. During the same period last year, the firm posted $2.37 EPS. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, equities analysts expect that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 19.03%.

Watts Water Technologies Company 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.