46,080 Shares in Watts Water Technologies, Inc. $WTS Purchased by OP Asset Management Ltd

OP Asset Management Ltd purchased a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 46,080 shares of the technology company’s stock, valued at approximately $13,377,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WTS. Advyzon Investment Management LLC lifted its holdings in Watts Water Technologies by 3.8% in the 4th quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company’s stock worth $233,000 after buying an additional 31 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Watts Water Technologies by 0.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company’s stock worth $1,149,000 after buying an additional 32 shares during the last quarter. C M Bidwell & Associates Ltd. increased its stake in shares of Watts Water Technologies by 5.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company’s stock valued at $179,000 after buying an additional 34 shares during the period. Centennial Wealth Advisory LLC increased its stake in shares of Watts Water Technologies by 3.8% during the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock valued at $279,000 after buying an additional 37 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Watts Water Technologies by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company’s stock valued at $1,521,000 after acquiring an additional 38 shares in the last quarter. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Trading Up 3.7%

NYSE WTS opened at $353.95 on Thursday. The firm has a market capitalization of $11.82 billion, a PE ratio of 32.38, a P/E/G ratio of 3.03 and a beta of 1.19. The stock’s 50 day moving average is $310.77 and its 200 day moving average is $302.80. Watts Water Technologies, Inc. has a twelve month low of $242.38 and a twelve month high of $355.34. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data 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. The business had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.37 earnings per share. Research 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 firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.63 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio is currently 23.06%.

Analyst Ratings Changes

A number of brokerages recently commented on WTS. Stifel Nicolaus set a $379.00 price target on Watts Water Technologies in a research note on Friday, May 8th. Royal Bank Of Canada upped their price objective on shares of Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Barclays dropped their target price on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Finally, Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $329.44.

Insider Activity

In related news, insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the sale, the insider owned 8,963 shares of the company’s stock, valued at $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael J. Dubose sold 398 shares of the company’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 completion of the sale, the director owned 1,814 shares in the company, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by company insiders.

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.