Watts Water Technologies, Inc. (NYSE:WTS) Short Interest Down 45.1% in June

Watts Water Technologies, Inc. (NYSE:WTS) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 824,963 shares, a decrease of 45.1% from the June 15th total of 1,502,348 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average trading volume of 789,926 shares, the short-interest ratio is presently 1.0 days.

Watts Water Technologies Price Performance

NYSE:WTS traded up $4.24 during trading hours on Thursday, hitting $353.44. The company’s stock had a trading volume of 170,546 shares, compared to its average volume of 485,956. The business’s 50-day moving average is $330.56 and its two-hundred day moving average is $312.09. The company has a market capitalization of $11.80 billion, a PE ratio of 32.34, a PEG ratio of 3.07 and a beta of 1.14. 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 has a 52-week low of $246.55 and a 52-week high of $394.54.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $2.37 earnings per share. Watts Water Technologies’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, research analysts anticipate that Watts Water Technologies will post 12.03 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors 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 dividend payout ratio (DPR) is 23.06%.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the sale, the insider directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the transaction, the director owned 1,814 shares in the company, valued at $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wexford Capital LP purchased a new stake in shares of Watts Water Technologies during the 3rd quarter worth approximately $26,000. Acumen Wealth Advisors LLC purchased a new position in Watts Water Technologies in the 4th quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new position in Watts Water Technologies in the 3rd quarter valued at approximately $29,000. Clearstead Advisors LLC raised its holdings 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 purchasing an additional 43 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in Watts Water Technologies during the fourth quarter worth $29,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on WTS shares. Robert W. Baird set a $330.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. TD Cowen raised their target price on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. 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. Barclays upgraded shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $317.00 to $414.00 in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Watts Water Technologies has a consensus rating of “Hold” and an average price target of $342.90.

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.