MQS Management LLC Buys New Position in Watts Water Technologies, Inc. $WTS

MQS Management LLC bought a new stake in Watts Water Technologies, Inc. (NYSE:WTS) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,110 shares of the technology company’s stock, valued at approximately $613,000.

Several other institutional investors also recently added to or reduced their stakes in WTS. Wexford Capital LP acquired a new position in shares of Watts Water Technologies during the third quarter worth approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Watts Water Technologies in the fourth quarter worth $28,000. Advisory Services Network LLC bought a new position in Watts Water Technologies during the third quarter worth $29,000. Clearstead Advisors LLC increased its position in Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after acquiring an additional 43 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in Watts Water Technologies during the 4th quarter valued at $29,000. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Stock Up 9.3%

Shares of WTS stock opened at $392.25 on Wednesday. The stock has a market cap of $13.10 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 3.19 and a beta of 1.19. Watts Water Technologies, Inc. has a one year low of $242.77 and a one year high of $394.54. The stock has a fifty day moving average price of $316.16 and a 200 day moving average price of $305.61. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share 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 the consensus estimate 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 was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.37 earnings per share. Analysts predict 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 announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s payout ratio is 23.06%.

Analysts Set New Price Targets

A number of brokerages have weighed in on WTS. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a report on Friday, May 8th. Weiss Ratings downgraded shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $358.00 price objective on shares of Watts Water Technologies in a research report on Friday, May 8th. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Finally, Barclays raised Watts Water Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $317.00 to $414.00 in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $340.22.

Insider Activity

In related news, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value 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 through this hyperlink. Also, Director Michael J. Dubose sold 398 shares of the 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 transaction, the director directly owned 1,814 shares of the company’s stock, valued at $561,668.82. This trade represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by insiders.

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.