Watts Water Technologies, Inc. $WTS is Gamco Investors INC. ET AL’s 10th Largest Position

Gamco Investors INC. ET AL reduced its position in Watts Water Technologies, Inc. (NYSE:WTS) by 5.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 404,093 shares of the technology company’s stock after selling 21,761 shares during the quarter. Watts Water Technologies comprises about 1.2% of Gamco Investors INC. ET AL’s portfolio, making the stock its 10th biggest holding. Gamco Investors INC. ET AL’s holdings in Watts Water Technologies were worth $117,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wexford Capital LP purchased a new position in shares of Watts Water Technologies in the 3rd quarter valued at about $26,000. Acumen Wealth Advisors LLC purchased a new position in Watts Water Technologies during the fourth quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in Watts Water Technologies in the third quarter valued at approximately $29,000. Clearstead Advisors LLC grew its holdings 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 shares of Watts Water Technologies in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Insider Activity at Watts Water Technologies

In other news, insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 1,814 shares of the company’s stock, valued at $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WTS shares. Weiss Ratings lowered shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Royal Bank Of Canada raised their price target on shares of Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $358.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. TD Cowen raised 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, Stifel Nicolaus lifted their price target on Watts Water Technologies from $379.00 to $403.00 and gave the stock a “buy” rating in a research note on Monday. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $345.30.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $344.62 on Friday. The firm has a 50-day simple moving average of $335.93 and a 200-day simple moving average of $314.57. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 2.97 and a beta of 1.14. Watts Water Technologies, Inc. has a 52 week low of $250.63 and a 52 week high of $394.54.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping 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 analyst estimates of $638.13 million. During the same period in the previous year, the business posted $2.37 earnings per share. Watts Water Technologies’s quarterly revenue was up 21.4% on a year-over-year basis. On average, equities analysts predict that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis 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 23.06%.

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.