Park Avenue Securities LLC Has $350,000 Position in Watts Water Technologies, Inc. (NYSE:WTS)

Park Avenue Securities LLC lifted its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 4.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,645 shares of the technology company’s stock after purchasing an additional 67 shares during the quarter. Park Avenue Securities LLC’s holdings in Watts Water Technologies were worth $350,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new position in shares of Watts Water Technologies in the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new position in Watts Water Technologies in the 1st quarter worth $26,000. Allworth Financial LP increased its holdings in Watts Water Technologies by 47.5% during the 4th 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. acquired a new stake in shares of Watts Water Technologies in the 4th quarter valued at about $39,000. Finally, Headinvest LLC bought a new stake in shares of Watts Water Technologies in the third quarter valued at about $41,000. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Stock Down 0.3 %

NYSE:WTS opened at $183.37 on Monday. Watts Water Technologies, Inc. has a twelve month low of $167.87 and a twelve month high of $219.52. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 2.65 and a beta of 0.94. The company has a quick ratio of 1.44, a current ratio of 2.48 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $199.63 and its two-hundred day moving average price is $202.15.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, May 8th. The technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.22. The business had revenue of $570.90 million for the quarter, compared to the consensus estimate of $547.20 million. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.92 earnings per share. Equities research analysts expect that Watts Water Technologies, Inc. will post 8.64 earnings per share 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. Investors of record on Friday, May 31st were paid a $0.43 dividend. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.36. This represents a $1.72 annualized dividend and a yield of 0.94%. The ex-dividend date was Friday, May 31st. Watts Water Technologies’s dividend payout ratio (DPR) is 21.34%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Watts Water Technologies news, CFO Shashank Patel sold 1,508 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total value of $324,370.80. Following the sale, the chief financial officer now owns 20,204 shares in the company, valued at $4,345,880.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Watts Water Technologies news, CFO Shashank Patel sold 1,508 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $215.10, for a total value of $324,370.80. Following the transaction, the chief financial officer now directly owns 20,204 shares in the company, valued at $4,345,880.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Elie Melhem sold 2,051 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $215.51, for a total transaction of $442,011.01. Following the sale, the insider now owns 13,226 shares of the company’s stock, valued at approximately $2,850,335.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,753 shares of company stock worth $1,236,753. Company insiders own 1.10% of the company’s stock.

About Watts Water Technologies

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.