Watts Water Technologies, Inc. $WTS Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 58.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,140 shares of the technology company’s stock after purchasing an additional 49,960 shares during the quarter. Renaissance Technologies LLC owned 0.41% of Watts Water Technologies worth $39,230,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WTS. Advyzon Investment Management LLC increased its position in shares of Watts Water Technologies by 3.8% during the 4th quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company’s stock worth $233,000 after purchasing an additional 31 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in 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 valued at $1,149,000 after buying an additional 32 shares during the period. C M Bidwell & Associates Ltd. lifted its position in Watts Water Technologies by 5.5% in 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 last quarter. Centennial Wealth Advisory LLC lifted its position in Watts Water Technologies by 3.8% in 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 last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in 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 worth $1,521,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Stock Up 0.5%

Shares of WTS opened at $346.17 on Tuesday. The company’s 50-day simple moving average is $336.84 and its 200-day simple moving average is $315.24. 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 $250.82 and a 1 year high of $394.54. The stock has a market capitalization of $11.56 billion, a PE ratio of 31.67, a P/E/G ratio of 2.98 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating 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 firm had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. During the same quarter in the previous year, the business posted $2.37 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. Analysts forecast that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WTS shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Robert W. Baird set a $330.00 price objective on shares of Watts Water Technologies in a research report on Friday, May 8th. TD Cowen lifted their target price on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Royal Bank Of Canada boosted their target price on Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Finally, KeyCorp upped their price target on Watts Water Technologies from $360.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Watts Water Technologies presently has a consensus rating of “Hold” and a consensus price target of $345.30.

Insider Buying and Selling at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $561,668.82. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elie Melhem sold 2,257 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the sale, 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. Insiders own 1.00% of the company’s stock.

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.