Watts Water Technologies, Inc. $WTS Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 27.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 24,619 shares of the technology company’s stock after selling 9,191 shares during the quarter. Edgestream Partners L.P.’s holdings in Watts Water Technologies were worth $7,147,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Wexford Capital LP acquired a new position in shares of Watts Water Technologies in the 3rd quarter worth approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in Watts Water Technologies in the 4th quarter valued at approximately $28,000. Advisory Services Network LLC acquired a new stake in Watts Water Technologies in the 3rd quarter valued at approximately $29,000. Clearstead Advisors LLC raised its position in Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new stake in Watts Water Technologies in the fourth quarter valued at approximately $29,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

NYSE:WTS opened at $344.26 on Friday. The company has a fifty day simple moving average of $339.47 and a two-hundred day simple moving average of $316.45. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 2.90 and a beta of 1.14. 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, Inc. has a 52 week low of $251.17 and a 52 week high of $394.54.

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

Watts Water Technologies Dividend Announcement

The business also recently declared 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 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, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction dated 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 transaction, the insider owned 8,963 shares in the company, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WTS shares. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Royal Bank Of Canada increased their target price on Watts Water Technologies from $323.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 16th. TD Cowen lifted their target price on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Finally, 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 research note on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Watts Water Technologies currently has an average rating of “Hold” and a consensus price target of $345.30.

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.