Globeflex Capital L P Purchases New Position in Watts Water Technologies, Inc. $WTS

Globeflex Capital L P acquired a new position in Watts Water Technologies, Inc. (NYSE:WTS) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 2,424 shares of the technology company’s stock, valued at approximately $949,000.

A number of other hedge funds have also bought and sold shares of WTS. Advyzon Investment Management LLC boosted its holdings in shares of Watts Water Technologies by 3.8% in the fourth quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company’s stock worth $233,000 after acquiring an additional 31 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Watts Water Technologies by 0.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company’s stock valued at $1,149,000 after purchasing an additional 32 shares during the period. C M Bidwell & Associates Ltd. lifted its holdings in Watts Water Technologies by 5.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company’s stock worth $179,000 after purchasing an additional 34 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Watts Water Technologies by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company’s stock worth $1,521,000 after purchasing an additional 38 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its stake in Watts Water Technologies by 1.5% in the 1st quarter. Apollon Wealth Management LLC now owns 2,702 shares of the technology company’s stock worth $784,000 after purchasing an additional 40 shares during the period. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Michael J. Dubose sold 398 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the sale, the director owned 1,814 shares in the company, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

WTS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $358.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. KeyCorp raised their price objective on shares of Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. TD Cowen boosted their price objective on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $374.00 target price on shares of Watts Water Technologies in a report on Friday, August 7th. Finally, Royal Bank Of Canada increased their price objective on Watts Water Technologies from $350.00 to $417.00 and gave the stock a “sector perform” rating in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $367.70.

Watts Water Technologies Stock Performance

Watts Water Technologies stock opened at $373.04 on Tuesday. Watts Water Technologies, Inc. has a twelve month low of $260.00 and a twelve month high of $394.54. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $359.79 and a two-hundred day simple moving average of $325.71. The company has a market capitalization of $12.45 billion, a PE ratio of 32.58, a P/E/G ratio of 3.10 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.32. The company had revenue of $763.10 million during the quarter, compared to analysts’ expectations of $725.99 million. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.Watts Water Technologies’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.09 EPS. Research analysts expect that Watts Water Technologies, Inc. will post 12.81 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Watts Water Technologies’s dividend payout ratio is currently 22.01%.

Watts Water Technologies 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.