Kingsview Wealth Management LLC Makes New $2.85 Million Investment in Watts Water Technologies, Inc. $WTS

Kingsview Wealth Management LLC acquired a new position in shares of Watts Water Technologies, Inc. (NYSE:WTS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 10,318 shares of the technology company’s stock, valued at approximately $2,848,000.

A number of other hedge funds have also recently added to or reduced their stakes in WTS. Wexford Capital LP bought a new position in Watts Water Technologies during the 3rd quarter worth $26,000. Clearstead Advisors LLC increased its stake in Watts Water Technologies by 69.4% during the 4th 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. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies in the 3rd quarter valued at $29,000. Stance Capital LLC bought a new position in shares of Watts Water Technologies in the 3rd quarter valued at $62,000. Finally, Allworth Financial LP increased its stake in shares of Watts Water Technologies by 29.7% in the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research note on Friday, May 8th. KeyCorp lifted their price target on Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. Barclays decreased their price target on Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Finally, Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $329.44.

Watts Water Technologies Stock Down 0.8%

Shares of WTS opened at $308.62 on Friday. The company has a market capitalization of $10.30 billion, a PE ratio of 28.24, a PEG ratio of 2.74 and a beta of 1.20. Watts Water Technologies, Inc. has a 12 month low of $237.15 and a 12 month high of $345.17. The stock’s 50-day moving average price is $298.47 and its two-hundred day moving average price is $295.57. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping the consensus estimate 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 return on equity of 18.92% and a net margin of 14.32%.The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.37 EPS. On average, analysts anticipate that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.52 annualized dividend and a yield of 0.8%. Watts Water Technologies’s payout ratio is presently 19.03%.

Insider Activity

In other news, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the transaction, the director directly owned 1,814 shares of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $679,357.00. Following the completion of the transaction, the insider directly owned 8,963 shares in the company, valued at $2,697,863. This represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,738 shares of company stock worth $1,125,138 over the last ninety days. Company 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.