Inspire Investing LLC Boosts Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Inspire Investing LLC lifted its position in Watts Water Technologies, Inc. (NYSE:WTS) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,968 shares of the technology company’s stock after acquiring an additional 242 shares during the period. Inspire Investing LLC’s holdings in Watts Water Technologies were worth $361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in Watts Water Technologies by 4.2% in the first quarter. Park Avenue Securities LLC now owns 1,645 shares of the technology company’s stock worth $350,000 after purchasing an additional 67 shares in the last quarter. Banco Santander S.A. grew its position in shares of Watts Water Technologies by 1.2% in the 2nd quarter. Banco Santander S.A. now owns 6,424 shares of the technology company’s stock worth $1,178,000 after buying an additional 76 shares during the period. Fifth Third Bancorp increased its stake in shares of Watts Water Technologies by 30.0% in the 2nd quarter. Fifth Third Bancorp now owns 338 shares of the technology company’s stock worth $62,000 after acquiring an additional 78 shares in the last quarter. Retirement Systems of Alabama lifted its position in Watts Water Technologies by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 34,367 shares of the technology company’s stock valued at $7,305,000 after acquiring an additional 90 shares during the period. Finally, State of Michigan Retirement System boosted its stake in Watts Water Technologies by 1.5% during the first quarter. State of Michigan Retirement System now owns 6,695 shares of the technology company’s stock worth $1,423,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Price Performance

Shares of WTS opened at $205.04 on Friday. Watts Water Technologies, Inc. has a twelve month low of $167.87 and a twelve month high of $219.52. The company has a market capitalization of $6.84 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. The firm has a 50 day moving average of $194.06 and a 200 day moving average of $197.65. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16.

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

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid 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 0.84%. Watts Water Technologies’s dividend payout ratio is presently 21.34%.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages have weighed in on WTS. StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Stifel Nicolaus reduced their price objective on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Finally, Robert W. Baird dropped 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.

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.