King Luther Capital Management Corp Buys 2,120 Shares of Watts Water Technologies, Inc. $WTS

King Luther Capital Management Corp lifted its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,940 shares of the technology company’s stock after purchasing an additional 2,120 shares during the quarter. King Luther Capital Management Corp owned 0.06% of Watts Water Technologies worth $5,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WTS. MTM Investment Management LLC acquired a new position in shares of Watts Water Technologies during the second quarter worth $25,000. Cullen Frost Bankers Inc. increased its holdings in Watts Water Technologies by 156.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 80 shares in the last quarter. GAMMA Investing LLC raised its position in Watts Water Technologies by 31.6% in the third quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after purchasing an additional 62 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Watts Water Technologies by 474.6% during the second quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock valued at $83,000 after purchasing an additional 280 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Watts Water Technologies by 138.4% during the third quarter. Farther Finance Advisors LLC now owns 329 shares of the technology company’s stock worth $92,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on WTS shares. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Barclays boosted their price objective on shares of Watts Water Technologies from $300.00 to $323.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. The Goldman Sachs Group raised their target price on Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Robert W. Baird set a $361.00 price target on Watts Water Technologies in a research report on Friday, February 13th. Finally, Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $334.11.

Watts Water Technologies Stock Down 0.3%

Shares of NYSE:WTS opened at $328.80 on Friday. The business’s 50-day moving average is $296.48 and its 200-day moving average is $282.73. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $345.17. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 32.33, a P/E/G ratio of 3.00 and a beta of 1.24. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.51 and a quick ratio of 1.49.

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

Watts Water Technologies Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 1.9%. Watts Water Technologies’s dividend payout ratio is currently 20.45%.

Insider Transactions at Watts Water Technologies

In other news, CAO Virginia A. Halloran sold 605 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the completion of the sale, the chief accounting officer directly owned 13,412 shares in the company, valued at $3,712,173.36. This trade represents a 4.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total value of $1,613,427.00. Following the transaction, the general counsel directly owned 12,284 shares in the company, valued at approximately $3,944,146.72. This trade represents a 29.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 13,386 shares of company stock valued at $3,892,936 in the last 90 days. 1.00% of the stock is currently 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.