MQS Management LLC Grows Stake in Watts Water Technologies, Inc. (NYSE:WTS)

MQS Management LLC lifted its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 37.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,236 shares of the technology company’s stock after purchasing an additional 879 shares during the quarter. MQS Management LLC’s holdings in Watts Water Technologies were worth $593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WTS. Park Avenue Securities LLC raised its position in Watts Water Technologies by 4.2% in the 1st quarter. Park Avenue Securities LLC now owns 1,645 shares of the technology company’s stock worth $350,000 after buying an additional 67 shares during the last quarter. Banco Santander S.A. raised its holdings in shares of Watts Water Technologies by 1.2% during the second quarter. Banco Santander S.A. now owns 6,424 shares of the technology company’s stock valued at $1,178,000 after purchasing an additional 76 shares during the last quarter. Fifth Third Bancorp lifted its position in Watts Water Technologies by 30.0% during the second quarter. Fifth Third Bancorp now owns 338 shares of the technology company’s stock valued at $62,000 after purchasing an additional 78 shares during the period. Retirement Systems of Alabama boosted its holdings in Watts Water Technologies by 0.3% in the first quarter. Retirement Systems of Alabama now owns 34,367 shares of the technology company’s stock worth $7,305,000 after purchasing an additional 90 shares during the last quarter. Finally, State of Michigan Retirement System grew its position in Watts Water Technologies by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 6,695 shares of the technology company’s stock worth $1,423,000 after purchasing an additional 100 shares during the period. Institutional investors own 95.02% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com raised Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Robert W. Baird lowered their target price on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Stifel Nicolaus cut their price target on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research note on Friday, August 9th.

Watts Water Technologies Price Performance

NYSE WTS opened at $200.05 on Thursday. The business’s fifty day moving average is $193.32 and its 200 day moving average is $197.63. Watts Water Technologies, Inc. has a fifty-two week low of $167.87 and a fifty-two week high of $219.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 2.50. The company has a market capitalization of $6.67 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.13. The firm had revenue of $597.30 million for the quarter, compared to analysts’ expectations of $589.55 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 EPS. Sell-side analysts predict that Watts Water Technologies, Inc. will post 8.71 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.43 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.86%. Watts Water Technologies’s payout ratio is currently 21.34%.

Insider Transactions at Watts Water Technologies

In related news, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the transaction, the director now owns 2,755 shares in the company, valued at approximately $512,237.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total transaction of $58,567.95. Following the sale, the director now owns 2,755 shares of the company’s stock, valued at approximately $512,237.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elie Melhem sold 1,710 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the completion of the transaction, the insider now owns 11,516 shares of the company’s stock, valued at $2,132,302.56. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Watts Water Technologies Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.