Sierra Summit Advisors LLC Invests $921,000 in Watts Water Technologies, Inc. $WTS

Sierra Summit Advisors LLC bought a new stake in Watts Water Technologies, Inc. (NYSE:WTS) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,173 shares of the technology company’s stock, valued at approximately $921,000.

Several other institutional investors have also bought and sold shares of WTS. Wexford Capital LP bought a new position in Watts Water Technologies during the 3rd quarter valued at $26,000. Acumen Wealth Advisors LLC purchased a new position in Watts Water Technologies during the 4th quarter worth $28,000. Clearstead Advisors LLC grew its stake in shares of Watts Water Technologies by 69.4% in the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Watts Water Technologies in the 3rd quarter worth $29,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Watts Water Technologies in the fourth quarter valued at about $29,000. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

NYSE WTS opened at $368.69 on Friday. The company has a market capitalization of $12.31 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 3.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. Watts Water Technologies, Inc. has a 52-week low of $242.77 and a 52-week high of $394.54. The company has a 50-day simple moving average of $319.35 and a 200 day simple moving average of $306.97.

Watts Water Technologies (NYSE:WTS) last released its earnings results 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 net margin of 14.32% and a return on equity of 18.92%. The firm had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $638.13 million. During the same period in the previous year, the company earned $2.37 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis. On average, research analysts predict that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Dividend Announcement

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

Insider Transactions at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated 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 owned 1,814 shares in the company, valued at $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 8,963 shares in the company, 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 company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on WTS shares. Barclays upgraded shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $317.00 to $414.00 in a report on Tuesday. TD Cowen lifted their target price on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday. 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 target price on Watts Water Technologies in a report on Friday, May 8th. Finally, Royal Bank Of Canada increased their price target on Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $338.20.

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.