Watts Water Technologies, Inc. $WTS Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 124.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,174 shares of the technology company’s stock after buying an additional 4,531 shares during the quarter. Pacer Advisors Inc.’s holdings in Watts Water Technologies were worth $2,256,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WTS. Cumberland Partners Ltd lifted its position in shares of Watts Water Technologies by 100.0% in the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the technology company’s stock valued at $3,588,000 after acquiring an additional 6,500 shares in the last quarter. Clark Capital Management Group Inc. increased its position in shares of Watts Water Technologies by 17.4% during the third quarter. Clark Capital Management Group Inc. now owns 27,985 shares of the technology company’s stock worth $7,816,000 after purchasing an additional 4,140 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Watts Water Technologies in the 3rd quarter valued at $6,308,000. Kingsview Wealth Management LLC acquired a new position in Watts Water Technologies in the 4th quarter valued at $2,848,000. Finally, Mach 1 Financial Group LLC purchased a new position in Watts Water Technologies in the 4th quarter valued at $1,950,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Down 2.3%

Shares of WTS opened at $341.86 on Wednesday. Watts Water Technologies, Inc. has a 52-week low of $242.38 and a 52-week high of $351.57. The company has a market capitalization of $11.41 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 3.11 and a beta of 1.19. The stock has a fifty day simple moving average of $309.89 and a two-hundred day simple moving average of $302.24. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $638.13 million. During the same quarter in the previous year, the company posted $2.37 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. As a group, equities analysts forecast that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on WTS shares. Zacks Research cut shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. Wall Street Zen downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $358.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. Finally, Barclays cut their price objective on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and a consensus target price of $329.44.

Insider Activity

In other Watts Water Technologies news, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $309.63, for a total value of $123,232.74. Following the transaction, the director directly owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Elie Melhem sold 2,257 shares of the firm’s 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 sale, the insider owned 8,963 shares of the company’s stock, valued at $2,697,863. This represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.

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.