Rise Advisors LLC Invests $26,000 in Watts Water Technologies, Inc. (NYSE:WTS)

Rise Advisors LLC purchased a new position in Watts Water Technologies, Inc. (NYSE:WTS) during the first quarter, HoldingsChannel reports. The firm purchased 121 shares of the technology company’s stock, valued at approximately $26,000.

Several other institutional investors also recently added to or reduced their stakes in WTS. Contravisory Investment Management Inc. bought a new position in Watts Water Technologies in the 4th quarter worth about $26,000. Allworth Financial LP grew its stake in Watts Water Technologies by 47.5% in the fourth quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock worth $36,000 after purchasing an additional 56 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Watts Water Technologies during the 4th quarter valued at $39,000. Headinvest LLC purchased a new stake in shares of Watts Water Technologies in the 3rd quarter worth $41,000. Finally, AdvisorNet Financial Inc grew its position in shares of Watts Water Technologies by 2,857.1% during the 4th quarter. AdvisorNet Financial Inc now owns 207 shares of the technology company’s stock worth $43,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus lifted their price objective on Watts Water Technologies from $206.00 to $209.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Robert W. Baird boosted their price target on shares of Watts Water Technologies from $212.00 to $225.00 and gave the company a “neutral” rating in a report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Watts Water Technologies has a consensus rating of “Hold” and an average target price of $199.50.

Insiders Place Their Bets

In other news, CFO Shashank Patel sold 1,508 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total transaction of $324,370.80. Following the completion of the sale, the chief financial officer now owns 20,204 shares in the company, valued at approximately $4,345,880.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Shashank Patel sold 1,508 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total transaction of $324,370.80. Following the transaction, the chief financial officer now directly owns 20,204 shares of the company’s stock, valued at approximately $4,345,880.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elie Melhem sold 2,051 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $215.51, for a total value of $442,011.01. Following the completion of the sale, the insider now owns 13,226 shares of the company’s stock, valued at $2,850,335.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,753 shares of company stock valued at $1,236,753. 1.10% of the stock is currently owned by insiders.

Watts Water Technologies Trading Down 0.4 %

Shares of NYSE WTS opened at $185.66 on Friday. Watts Water Technologies, Inc. has a 1-year low of $167.87 and a 1-year high of $219.52. The business has a fifty day moving average price of $201.26 and a 200 day moving average price of $202.57. The stock has a market capitalization of $6.20 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.70 and a beta of 0.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 1.44.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 8th. The technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.22. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. The business had revenue of $570.90 million during the quarter, compared to the consensus estimate of $547.20 million. During the same period in the previous year, the company posted $1.92 earnings per share. The firm’s revenue was up 21.0% on a year-over-year basis. Equities research analysts expect that Watts Water Technologies, Inc. will post 8.64 EPS for the current fiscal year.

Watts Water Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.93%. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, May 31st. Watts Water Technologies’s dividend payout ratio (DPR) is 21.34%.

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.