Vest Financial LLC Has $6.23 Million Stock Holdings in Watts Water Technologies, Inc. $WTS

Vest Financial LLC boosted its position in Watts Water Technologies, Inc. (NYSE:WTS) by 13.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 22,299 shares of the technology company’s stock after purchasing an additional 2,601 shares during the period. Vest Financial LLC owned about 0.07% of Watts Water Technologies worth $6,228,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MTM Investment Management LLC bought a new stake in Watts Water Technologies in the second quarter valued at approximately $25,000. Cullen Frost Bankers Inc. increased its holdings in shares of Watts Water Technologies by 156.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after acquiring an additional 80 shares during the last quarter. GAMMA Investing LLC raised its stake in Watts Water Technologies by 31.6% in the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after acquiring an additional 62 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Watts Water Technologies by 474.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock valued at $83,000 after purchasing an additional 280 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Watts Water Technologies by 138.4% during the third quarter. Farther Finance Advisors LLC now owns 329 shares of the technology company’s stock worth $92,000 after purchasing an additional 191 shares during the period. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $301.53 on Thursday. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $304.42. The company’s 50 day moving average price is $279.52 and its two-hundred day moving average price is $274.25. The firm has a market cap of $10.06 billion, a PE ratio of 31.12, a PEG ratio of 2.70 and a beta of 1.24. The company has a quick ratio of 1.84, a current ratio of 2.83 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.21. The business had revenue of $611.70 million during the quarter, compared to analysts’ expectations of $576.20 million. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.03 earnings per share. Equities research analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, December 1st. Watts Water Technologies’s dividend payout ratio is 21.47%.

Insiders Place Their Bets

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 6,994 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $278.65, for a total transaction of $1,948,878.10. Following the sale, the insider directly owned 23,006 shares in the company, valued at $6,410,621.90. This represents a 23.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Virginia A. Halloran sold 605 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total transaction of $167,451.90. Following the completion of the transaction, the chief accounting officer owned 13,412 shares of the company’s stock, valued at $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,605 shares of company stock worth $4,296,387 in the last 90 days. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 10th. Jefferies Financial Group began coverage on shares of Watts Water Technologies in a report on Friday, December 12th. They issued a “hold” rating and a $300.00 price target on the stock. Wells Fargo & Company set a $275.00 price objective on shares of Watts Water Technologies in a research report on Thursday, January 8th. TD Cowen reaffirmed a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Finally, Royal Bank Of Canada initiated coverage on Watts Water Technologies in a research note on Monday, January 5th. They set a “sector perform” rating and a $288.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $288.57.

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.