Perbak Capital Partners LLP Has $1.40 Million Stake in Watts Water Technologies, Inc. $WTS

Perbak Capital Partners LLP increased its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 55.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,996 shares of the technology company’s stock after purchasing an additional 1,782 shares during the quarter. Perbak Capital Partners LLP’s holdings in Watts Water Technologies were worth $1,395,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. World Investment Advisors grew its stake in shares of Watts Water Technologies by 1.4% during the 3rd quarter. World Investment Advisors now owns 2,648 shares of the technology company’s stock valued at $740,000 after purchasing an additional 37 shares during the period. Thrivent Financial for Lutherans increased its holdings in Watts Water Technologies by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 6,457 shares of the technology company’s stock valued at $1,588,000 after buying an additional 40 shares during the last quarter. Texas Yale Capital Corp. boosted its stake in shares of Watts Water Technologies by 4.4% during the 3rd quarter. Texas Yale Capital Corp. now owns 940 shares of the technology company’s stock worth $263,000 after acquiring an additional 40 shares during the last quarter. Journey Strategic Wealth LLC grew its position in shares of Watts Water Technologies by 4.3% during the 3rd quarter. Journey Strategic Wealth LLC now owns 1,001 shares of the technology company’s stock valued at $280,000 after acquiring an additional 41 shares during the period. Finally, Profund Advisors LLC increased its stake in shares of Watts Water Technologies by 4.9% in the 3rd quarter. Profund Advisors LLC now owns 1,136 shares of the technology company’s stock worth $317,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Stock Down 1.8%

NYSE WTS opened at $297.83 on Friday. The stock has a market cap of $9.93 billion, a PE ratio of 29.28, a P/E/G ratio of 2.75 and a beta of 1.23. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The stock’s 50 day moving average is $308.25 and its 200 day moving average is $287.88.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.26. The firm had revenue of $625.10 million during the quarter, compared to analyst estimates of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. Watts Water Technologies’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. Research analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a yield of 2.1%. Watts Water Technologies’s dividend payout ratio (DPR) is 20.45%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on WTS shares. Stifel Nicolaus lifted their target price on Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a research report on Friday, February 13th. KeyCorp boosted their price objective 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. Robert W. Baird set a $361.00 target price on shares of Watts Water Technologies in a report on Friday, February 13th. Barclays lifted their price target on shares of Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $339.00 price target on shares of Watts Water Technologies in a research report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $334.11.

Insiders Place Their Bets

In related news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $327.31, for a total value of $5,258,562.46. Following the completion of the transaction, the chief executive officer owned 191,202 shares of the company’s stock, valued at approximately $62,582,326.62. This trade represents a 7.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Dubose sold 332 shares of Watts Water Technologies stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $301.70, for a total value of $100,164.40. Following the completion of the transaction, the director owned 2,212 shares of the company’s stock, valued at approximately $667,360.40. This represents a 13.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 29,528 shares of company stock worth $9,614,906. Insiders own 1.00% of the company’s stock.

About Watts Water Technologies

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.