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

Edgestream Partners L.P. lessened its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 27.2% in the 1st quarter, according to the company in its most recent filing with the SEC. 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. owned approximately 0.07% of Watts Water Technologies worth $7,147,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wexford Capital LP purchased a new position in Watts Water Technologies in the 3rd quarter valued at about $26,000. Acumen Wealth Advisors LLC acquired a new stake in Watts Water Technologies in the 4th quarter worth about $28,000. Advisory Services Network LLC purchased a new stake in Watts Water Technologies during the 3rd quarter worth approximately $29,000. Clearstead Advisors LLC increased its stake in Watts Water Technologies by 69.4% during 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 in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Watts Water Technologies during the fourth quarter valued at approximately $29,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Elie Melhem sold 2,257 shares of the company’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 value of $679,357.00. Following the transaction, the insider directly owned 8,963 shares in the company, valued at approximately $2,697,863. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the director owned 1,814 shares in the company, valued at $561,668.82. This represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Watts Water Technologies Stock Performance

NYSE WTS opened at $344.26 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The stock’s fifty day moving average is $339.47 and its two-hundred day moving average is $316.45. The firm has a market capitalization of $11.49 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 2.90 and a beta of 1.14. Watts Water Technologies, Inc. has a fifty-two week low of $251.17 and a fifty-two week high of $394.54.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. The business had revenue of $677.30 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $2.37 EPS. On average, research analysts anticipate that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies’s payout ratio is 23.06%.

Analyst Upgrades and Downgrades

WTS has been the subject of several research reports. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Stifel Nicolaus lifted their target price on shares of Watts Water Technologies from $379.00 to $403.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. KeyCorp upped their target price on shares of Watts Water Technologies from $360.00 to $380.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Weiss Ratings cut shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and an average price target of $345.30.

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.