2,110 Shares in Watts Water Technologies, Inc. $WTS Acquired by MQS Management LLC

MQS Management LLC acquired a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,110 shares of the technology company’s stock, valued at approximately $613,000.

Other large investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC boosted its stake in shares of Watts Water Technologies by 1.5% during the 1st quarter. Apollon Wealth Management LLC now owns 2,702 shares of the technology company’s stock valued at $784,000 after buying an additional 40 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Watts Water Technologies in the first quarter worth $598,000. Louisiana State Employees Retirement System purchased a new stake in shares of Watts Water Technologies during the first quarter worth $2,322,000. Blue Trust Inc. raised its holdings in shares of Watts Water Technologies by 352.9% during the first quarter. Blue Trust Inc. now owns 317 shares of the technology company’s stock worth $92,000 after acquiring an additional 247 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its position in Watts Water Technologies by 42.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,180 shares of the technology company’s stock valued at $343,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Price Performance

NYSE WTS opened at $392.25 on Wednesday. Watts Water Technologies, Inc. has a fifty-two week low of $242.77 and a fifty-two week high of $394.54. The stock’s 50-day moving average is $316.16 and its two-hundred day moving average is $305.61. The firm has a market cap of $13.10 billion, a P/E ratio of 35.89, a price-to-earnings-growth ratio of 3.19 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.32. The company had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.37 EPS. On average, analysts anticipate that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given 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 0.6%. Watts Water Technologies’s dividend payout ratio is presently 23.06%.

Insider Activity at Watts Water Technologies

In related news, 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 transaction of $123,232.74. Following the completion of the sale, the director directly owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. This represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were 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. The trade was a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WTS. Stifel Nicolaus set a $379.00 target price on Watts Water Technologies in a research note on Friday, May 8th. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a report on Friday, May 8th. Weiss Ratings cut Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Finally, Royal Bank Of Canada lifted their target price on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $340.22.

About Watts Water Technologies

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.