Gabelli Funds LLC Has $44.71 Million Stock Position in Watts Water Technologies, Inc. $WTS

Gabelli Funds LLC reduced its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 1.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,025 shares of the technology company’s stock after selling 2,775 shares during the period. Gabelli Funds LLC owned about 0.46% of Watts Water Technologies worth $44,712,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Boston Partners increased its holdings in shares of Watts Water Technologies by 2.2% in the 3rd quarter. Boston Partners now owns 907,336 shares of the technology company’s stock valued at $253,211,000 after purchasing an additional 19,247 shares during the period. Geode Capital Management LLC increased its stake in Watts Water Technologies by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 832,148 shares of the technology company’s stock valued at $229,721,000 after buying an additional 25,501 shares during the period. First Trust Advisors LP lifted its position in Watts Water Technologies by 6.7% in the 1st quarter. First Trust Advisors LP now owns 545,404 shares of the technology company’s stock worth $158,325,000 after buying an additional 34,381 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Watts Water Technologies by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 522,624 shares of the technology company’s stock valued at $144,261,000 after buying an additional 1,418 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Watts Water Technologies by 34.4% in the third quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after acquiring an additional 120,090 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

WTS opened at $344.62 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The company has a market cap of $11.51 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 2.97 and a beta of 1.14. The stock has a 50-day moving average of $335.93 and a 200-day moving average of $314.57. Watts Water Technologies, Inc. has a 52-week low of $250.63 and a 52-week high of $394.54.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The business had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. During the same period last year, the business earned $2.37 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. As a group, equities research analysts forecast that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.63 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 23.06%.

Analyst Ratings Changes

WTS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $358.00 price objective on shares of Watts Water Technologies in a research report on Friday, May 8th. Stifel Nicolaus raised their price target on Watts Water Technologies from $379.00 to $403.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. TD Cowen boosted their price target on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and an average price target of $345.30.

Insiders Place Their Bets

In related news, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction on 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 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 is available through this link. Also, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction 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 completion of the transaction, the insider owned 8,963 shares in the company, valued at $2,697,863. This trade represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by 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.