Coppell Advisory Solutions LLC Acquires Shares of 22,407 Watts Water Technologies, Inc. $WTS

Coppell Advisory Solutions LLC bought a new position in shares of Watts Water Technologies, Inc. (NYSE:WTS) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 22,407 shares of the technology company’s stock, valued at approximately $8,771,000. Watts Water Technologies makes up approximately 1.7% of Coppell Advisory Solutions LLC’s holdings, making the stock its 10th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wexford Capital LP purchased a new stake in shares of Watts Water Technologies during the third quarter valued at approximately $26,000. Acumen Wealth Advisors LLC bought a new stake in Watts Water Technologies during the fourth quarter worth $28,000. Advisory Services Network LLC purchased a new position in Watts Water Technologies in the third quarter worth $29,000. Clearstead Advisors LLC boosted its position in Watts Water Technologies by 69.4% in 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. bought a new position in Watts Water Technologies in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

Watts Water Technologies stock opened at $351.83 on Thursday. Watts Water Technologies, Inc. has a 1-year low of $260.00 and a 1-year high of $394.54. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $11.74 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 3.49 and a beta of 1.13. The firm’s 50 day simple moving average is $362.75 and its 200 day simple moving average is $328.11.

Watts Water Technologies (NYSE:WTS) last released its quarterly 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 firm had revenue of $763.10 million for 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%.The company’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.09 EPS. As a group, analysts expect that Watts Water Technologies, Inc. will post 12.75 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be 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 is Tuesday, September 1st. Watts Water Technologies’s dividend payout ratio (DPR) is currently 22.01%.

Wall Street Analysts Forecast Growth

WTS has been the subject of several research analyst reports. KeyCorp raised their target price on Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Royal Bank Of Canada raised their price objective on shares of Watts Water Technologies from $350.00 to $417.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. Finally, Barclays boosted their target price on shares of Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $367.70.

Insiders Place Their Bets

In related news, Director Joseph T. Noonan sold 3,650 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The sale was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is owned by corporate insiders.

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.