Watts Water Technologies, Inc. $WTS Shares Purchased by Candriam S.C.A.

Candriam S.C.A. boosted its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 26.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,579 shares of the technology company’s stock after acquiring an additional 7,256 shares during the quarter. Candriam S.C.A.’s holdings in Watts Water Technologies were worth $10,038,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WTS. Advyzon Investment Management LLC grew its stake in shares of Watts Water Technologies by 3.8% in the 4th quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company’s stock worth $233,000 after purchasing an additional 31 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Watts Water Technologies by 0.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company’s stock worth $1,149,000 after purchasing an additional 32 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its stake in Watts Water Technologies by 5.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company’s stock valued at $179,000 after purchasing an additional 34 shares during the last quarter. Centennial Wealth Advisory LLC lifted its stake in Watts Water Technologies by 3.8% during the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock valued at $279,000 after purchasing an additional 37 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Watts Water Technologies by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company’s stock worth $1,521,000 after buying an additional 38 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

Watts Water Technologies stock opened at $352.19 on Monday. Watts Water Technologies, Inc. has a fifty-two week low of $242.77 and a fifty-two week high of $394.54. The firm’s 50 day simple moving average is $326.15 and its 200-day simple moving average is $310.23. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The company has a market cap of $11.76 billion, a P/E ratio of 32.22, a price-to-earnings-growth ratio of 3.10 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS 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 business had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same quarter in the prior year, the firm earned $2.37 EPS. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. As a group, equities research analysts predict that Watts Water Technologies, Inc. will post 12.03 EPS for the current year.

Watts Water Technologies Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value 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 disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

WTS has been the topic of several recent research reports. Barclays upgraded shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $317.00 to $414.00 in a research report on Tuesday, June 30th. Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a research note on Friday, May 8th. TD Cowen boosted their target price on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, Royal Bank Of Canada boosted their target price on Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $338.20.

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.