Louisiana State Employees Retirement System Acquires New Holdings in Watts Water Technologies, Inc. $WTS

Louisiana State Employees Retirement System bought a new position in shares of Watts Water Technologies, Inc. (NYSE:WTS) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,000 shares of the technology company’s stock, valued at approximately $2,322,000.

A number of other institutional investors have also recently bought and sold shares of WTS. Integrated Wealth Concepts LLC boosted its position in shares of Watts Water Technologies by 10.2% during the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after buying an additional 174 shares during the period. Jones Financial Companies Lllp grew its position in Watts Water Technologies by 80.2% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock valued at $222,000 after purchasing an additional 445 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Watts Water Technologies by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock valued at $20,163,000 after buying an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Watts Water Technologies during the 2nd quarter worth about $219,000. Finally, Cetera Investment Advisers boosted its stake in shares of Watts Water Technologies by 43.2% during the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock worth $426,000 after buying an additional 523 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 2,257 shares of the business’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 in the company, valued at $2,697,863. The trade was a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the company’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 completion of the transaction, the director directly owned 1,814 shares in the company, valued at approximately $561,668.82. This represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.00% of the company’s stock.

Watts Water Technologies Price Performance

NYSE:WTS opened at $359.36 on Tuesday. The stock’s 50 day moving average price is $314.38 and its two-hundred day moving average price is $304.79. Watts Water Technologies, Inc. has a 12-month low of $242.77 and a 12-month high of $375.89. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 3.19 and a beta of 1.19. 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 released 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. The firm had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business’s revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.37 EPS. On average, analysts anticipate that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

WTS has been the topic of a number of recent research reports. Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Barclays lowered their price target on Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Royal Bank Of Canada increased their price objective on Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $358.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and a consensus target price of $329.44.

Watts Water Technologies Company 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.