Magnetar Financial LLC Purchases 2,735 Shares of Watts Water Technologies, Inc. $WTS

Magnetar Financial LLC raised its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 46.4% in the 3rd quarter, Holdings Channel reports. The firm owned 8,629 shares of the technology company’s stock after acquiring an additional 2,735 shares during the period. Magnetar Financial LLC’s holdings in Watts Water Technologies were worth $2,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTS. Norges Bank acquired a new stake in shares of Watts Water Technologies in the 2nd quarter valued at $80,386,000. AQR Capital Management LLC lifted its position in shares of Watts Water Technologies by 148.3% during the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock worth $68,276,000 after buying an additional 165,837 shares during the last quarter. Geode Capital Management LLC boosted its stake in Watts Water Technologies by 20.7% in the second quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock valued at $197,728,000 after buying an additional 138,034 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Watts Water Technologies by 156.2% in the second quarter. Qube Research & Technologies Ltd now owns 86,681 shares of the technology company’s stock valued at $21,314,000 after acquiring an additional 52,847 shares during the last quarter. Finally, Invesco Ltd. grew its position in Watts Water Technologies by 16.5% in the second quarter. Invesco Ltd. now owns 349,418 shares of the technology company’s stock valued at $85,918,000 after acquiring an additional 49,462 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the completion of the sale, the chief executive officer directly owned 191,202 shares in the company, valued at $62,582,326.62. This represents a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total transaction of $167,451.90. Following the transaction, the chief accounting officer directly owned 13,412 shares of the company’s stock, valued at $3,712,173.36. This represents a 4.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,196 shares of company stock worth $9,514,741 over the last quarter. Company insiders own 1.00% of the company’s stock.

Watts Water Technologies Stock Down 1.7%

Shares of WTS opened at $302.97 on Friday. The stock’s 50-day moving average price is $307.86 and its two-hundred day moving average price is $287.76. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The company has a market capitalization of $10.10 billion, a PE ratio of 29.79, a PEG ratio of 2.80 and a beta of 1.23. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.26. The company had revenue of $625.10 million during the quarter, compared to analysts’ expectations of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. On average, analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, February 27th. This represents a c) annualized dividend and a yield of 2.1%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 20.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $339.00 target price on shares of Watts Water Technologies in a report on Friday, February 13th. The Goldman Sachs Group increased their price objective on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Wells Fargo & Company set a $275.00 target price on shares of Watts Water Technologies in a research report on Thursday, January 8th. Jefferies Financial Group began coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They set a “hold” rating and a $300.00 target price on the stock. Finally, Royal Bank Of Canada upped their price target on shares of Watts Water Technologies from $288.00 to $337.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $334.11.

Watts Water Technologies 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.