Tidal Investments LLC Increases Holdings in Watts Water Technologies, Inc. $WTS

Tidal Investments LLC increased its position in Watts Water Technologies, Inc. (NYSE:WTS) by 18.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,668 shares of the technology company’s stock after buying an additional 4,832 shares during the quarter. Tidal Investments LLC’s holdings in Watts Water Technologies were worth $12,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Kingsview Wealth Management LLC purchased a new stake in shares of Watts Water Technologies in the 4th quarter valued at $2,848,000. Cumberland Partners Ltd raised its position in Watts Water Technologies by 100.0% in the 4th quarter. Cumberland Partners Ltd now owns 13,000 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 6,500 shares during the period. Mach 1 Financial Group LLC purchased a new position in Watts Water Technologies in the 4th quarter worth $1,950,000. Candriam S.C.A. lifted its stake in Watts Water Technologies by 26.6% in the first quarter. Candriam S.C.A. now owns 34,579 shares of the technology company’s stock worth $10,038,000 after purchasing an additional 7,256 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Watts Water Technologies by 94.2% in the fourth quarter. Handelsbanken Fonder AB now owns 61,624 shares of the technology company’s stock worth $17,009,000 after purchasing an additional 29,896 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WTS. Robert W. Baird set a $405.00 price objective on Watts Water Technologies in a research note on Friday, August 7th. KeyCorp increased their target price on Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, September 1st. Royal Bank Of Canada lifted their price target on Watts Water Technologies from $350.00 to $417.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Finally, TD Cowen boosted their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $367.70.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $356.01 on Friday. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $360.78 and a 200-day moving average price of $329.55. The company has a market cap of $11.88 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 3.43 and a beta of 1.13. Watts Water Technologies, Inc. has a 12 month low of $260.00 and a 12 month high of $394.54.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The company had revenue of $763.10 million for the quarter, compared to analysts’ expectations of $725.99 million. During the same period last year, the firm earned $3.09 earnings per share. Watts Water Technologies’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, equities analysts anticipate that Watts Water Technologies, Inc. will post 12.75 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s payout ratio is 22.01%.

Insider Activity at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Elie Melhem sold 1,096 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total transaction of $394,066.80. Following the transaction, the insider directly owned 7,867 shares in the company, valued at approximately $2,828,579.85. The trade was a 12.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by insiders.

About Watts Water Technologies

Watts Water Technologies, Inc is a manufacturer of products and systems designed to manage the safety, efficiency, and quality of water within residential, commercial, and industrial plumbing and heating applications. Its offerings help regulate water pressure and temperature, prevent backflow and contamination, control flow, and improve water quality.

The company’s products include valves, backflow prevention devices, regulators, drainage and plumbing components, water filtration and treatment systems, electric and hydronic heating equipment, and related controls.