Hillsdale Investment Management Inc. Purchases 29,050 Shares of Watts Water Technologies, Inc. $WTS

Hillsdale Investment Management Inc. raised its position in Watts Water Technologies, Inc. (NYSE:WTS) by 96,833.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 29,080 shares of the technology company’s stock after purchasing an additional 29,050 shares during the period. Hillsdale Investment Management Inc. owned 0.09% of Watts Water Technologies worth $8,442,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WTS. State of Michigan Retirement System raised its stake in Watts Water Technologies by 1.5% during the first quarter. State of Michigan Retirement System now owns 6,595 shares of the technology company’s stock worth $1,914,000 after buying an additional 100 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Watts Water Technologies by 2.6% in the first quarter. Principal Financial Group Inc. now owns 83,968 shares of the technology company’s stock valued at $24,375,000 after buying an additional 2,156 shares during the period. Fifth Third Bancorp boosted its position in Watts Water Technologies by 5,335.4% during the first quarter. Fifth Third Bancorp now owns 13,371 shares of the technology company’s stock valued at $3,881,000 after acquiring an additional 13,125 shares during the last quarter. Candriam S.C.A. grew its holdings in Watts Water Technologies by 26.6% during the 1st quarter. Candriam S.C.A. now owns 34,579 shares of the technology company’s stock worth $10,038,000 after acquiring an additional 7,256 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. grew its holdings in Watts Water Technologies by 1.7% during the 1st quarter. Beacon Harbor Wealth Advisors Inc. now owns 24,076 shares of the technology company’s stock worth $6,989,000 after acquiring an additional 394 shares during the period. 95.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on WTS shares. Barclays raised Watts Water Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $317.00 to $414.00 in a research note on Tuesday, June 30th. Robert W. Baird set a $330.00 target price on Watts Water Technologies in a research note on Friday, May 8th. Stifel Nicolaus set a $379.00 target price on Watts Water Technologies in a report on Friday, May 8th. Royal Bank Of Canada boosted their price target on Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, TD Cowen increased their price target on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Watts Water Technologies presently has a consensus rating of “Hold” and a consensus price target of $340.20.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 2,257 shares of Watts Water Technologies 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 of the company’s stock, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were 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 $561,668.82. This trade represents a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.

Watts Water Technologies Price Performance

WTS stock opened at $347.39 on Tuesday. The stock has a market capitalization of $11.60 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 3.10 and a beta of 1.14. The company’s 50-day moving average is $327.08 and its 200-day moving average is $310.67. 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, Inc. has a 1 year low of $242.77 and a 1 year high of $394.54.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The company had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same period last year, the business posted $2.37 EPS. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. Equities research analysts expect that Watts Water Technologies, Inc. will post 12.03 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

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

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.