3,173 Shares in Watts Water Technologies, Inc. $WTS Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC bought a new position in Watts Water Technologies, Inc. (NYSE:WTS) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,173 shares of the technology company’s stock, valued at approximately $921,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wexford Capital LP bought a new stake in shares of Watts Water Technologies during the third quarter valued at about $26,000. Acumen Wealth Advisors LLC bought a new position in shares of Watts Water Technologies in the fourth quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new position in Watts Water Technologies during the third quarter valued at approximately $29,000. Clearstead Advisors LLC grew its stake in Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after acquiring an additional 43 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in Watts Water Technologies during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Wall Street Analysts Forecast Growth

WTS has been the topic of several recent analyst reports. Weiss Ratings cut shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. TD Cowen upped their price target on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a research report on Friday, May 8th. Finally, Royal Bank Of Canada lifted their price objective on Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $338.20.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the sale, the director owned 1,814 shares in the company, valued at $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the sale, the insider directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Watts Water Technologies Trading Down 3.3%

Shares of WTS opened at $368.69 on Friday. Watts Water Technologies, Inc. has a 1-year low of $242.77 and a 1-year high of $394.54. The company has a market capitalization of $12.31 billion, a P/E ratio of 33.73, a P/E/G ratio of 3.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The firm’s 50 day simple moving average is $319.35 and its 200 day simple moving average is $306.97.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. The firm had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.37 EPS. Sell-side analysts forecast that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Watts Water Technologies’s dividend payout ratio is currently 23.06%.

About Watts Water Technologies

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.