Watts Water Technologies, Inc. $WTS Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 832,148 shares of the technology company’s stock after acquiring an additional 25,501 shares during the quarter. Geode Capital Management LLC’s holdings in Watts Water Technologies were worth $229,721,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wexford Capital LP bought a new position in shares of Watts Water Technologies in the 3rd quarter worth about $26,000. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies in the 3rd quarter worth about $29,000. Clearstead Advisors LLC lifted its position 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 buying an additional 43 shares during the last quarter. Stance Capital LLC bought a new position in shares of Watts Water Technologies in the 3rd quarter worth about $62,000. Finally, Allworth Financial LP lifted its position in shares of Watts Water Technologies by 29.7% in the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock worth $71,000 after buying an additional 58 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WTS shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. The Goldman Sachs Group raised their price target on shares of Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, KeyCorp raised their price target on shares of Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $329.44.

Watts Water Technologies Stock Up 0.9%

WTS stock opened at $309.79 on Wednesday. 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 fifty-two week low of $237.72 and a fifty-two week high of $345.17. The firm’s 50-day simple moving average is $298.71 and its 200 day simple moving average is $295.93. The stock has a market cap of $10.34 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 2.73 and a beta of 1.19.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data 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 business had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $638.13 million. During the same quarter last year, the company earned $2.37 EPS. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, sell-side analysts predict that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is 23.06%.

Insider Transactions at Watts Water Technologies

In related news, Director Michael J. Dubose sold 398 shares of the 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elie Melhem sold 2,257 shares of the stock in a transaction dated Wednesday, May 13th. The stock was 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 3,738 shares of company stock worth $1,125,138. Corporate insiders own 1.00% of the company’s stock.

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.