Public Employees Retirement System of Ohio Acquires New Position in Watts Water Technologies, Inc. $WTS

Public Employees Retirement System of Ohio acquired a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,655 shares of the technology company’s stock, valued at approximately $3,388,000.

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

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $363.05 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $12.12 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 3.49 and a beta of 1.13. The firm’s 50 day moving average price is $362.46 and its 200-day moving average price is $328.55. Watts Water Technologies, Inc. has a twelve month low of $260.00 and a twelve month high of $394.54.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The company had revenue of $763.10 million during the quarter, compared to analyst estimates of $725.99 million. During the same period in the previous year, the business posted $3.09 earnings per share. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts expect that Watts Water Technologies, Inc. will post 12.75 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s payout ratio is presently 22.01%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. TD Cowen lifted their target price on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Weiss Ratings raised Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. Robert W. Baird set a $405.00 price objective on Watts Water Technologies in a research report on Friday, August 7th. Royal Bank Of Canada lifted their price objective on Watts Water Technologies from $350.00 to $417.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Finally, Barclays boosted their target price on Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and a consensus price target of $367.70.

Insider Activity at Watts Water Technologies

In other news, Director Joseph Noonan sold 3,650 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

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.