Inspire Investing LLC Raises Stock Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Inspire Investing LLC grew its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 14.0% during the second quarter, Holdings Channel reports. The institutional investor owned 1,968 shares of the technology company’s stock after buying 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 filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Rise Advisors LLC bought a new stake in Watts Water Technologies during the 1st quarter worth approximately $26,000. Gradient Investments LLC purchased a new stake in shares of Watts Water Technologies in the second quarter worth $31,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Watts Water Technologies by 502.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the technology company’s stock worth $47,000 after purchasing an additional 186 shares in the last quarter. Blue Trust Inc. raised its position in shares of Watts Water Technologies by 520.5% during the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock valued at $50,000 after purchasing an additional 229 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in shares of Watts Water Technologies during the 1st quarter valued at $53,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Watts Water Technologies

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

Wall Street Analyst Weigh In

WTS has been the subject of a number of analyst reports. Robert W. Baird cut their price target on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. StockNews.com upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus lowered their price target on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, August 9th.

Watts Water Technologies Stock Down 0.9 %

Shares of WTS stock opened at $205.04 on Friday. The stock has a market cap of $6.84 billion, a P/E ratio of 25.44, a PEG ratio of 2.80 and a beta of 0.89. The company’s fifty day simple moving average is $194.06 and its two-hundred day simple moving average is $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, Inc. has a 52 week low of $167.87 and a 52 week high of $219.52.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $597.30 million during the quarter, compared to analyst estimates of $589.55 million. During the same period in the prior year, the company earned $2.34 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Analysts predict that Watts Water Technologies, Inc. will post 8.71 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, August 30th. Watts Water Technologies’s dividend payout ratio is presently 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.