Watts Water Technologies, Inc. (NYSE:WTS) Shares Bought by Algert Global LLC

Algert Global LLC lifted its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 20.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 38,052 shares of the technology company’s stock after acquiring an additional 6,345 shares during the quarter. Algert Global LLC’s holdings in Watts Water Technologies were worth $6,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC bought a new stake in Watts Water Technologies during the first quarter valued at $26,000. Gradient Investments LLC acquired a new stake in Watts Water Technologies during the second quarter worth about $31,000. Benjamin F. Edwards & Company Inc. lifted its holdings in 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 acquiring an additional 186 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Watts Water Technologies in the first quarter valued at approximately $53,000. Finally, Blue Trust Inc. grew its holdings in shares of Watts Water Technologies by 520.5% during the second 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 last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

Shares of WTS stock opened at $207.51 on Monday. Watts Water Technologies, Inc. has a 12-month low of $167.87 and a 12-month high of $219.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 2.97 and a beta of 0.89. The business has a 50 day simple moving average of $195.15 and a 200 day simple moving average of $197.69.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share (EPS) 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 company had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $589.55 million. During the same quarter in the prior year, the business posted $2.34 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts anticipate that Watts Water Technologies, Inc. will post 8.71 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 0.83%. Watts Water Technologies’s payout ratio is 21.34%.

Insiders Place Their Bets

In other news, Director Michael J. Dubose sold 315 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were 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 transaction 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 business’s stock in a transaction 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 sale, the insider now owns 11,516 shares of the company’s stock, valued at approximately $2,132,302.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Dubose sold 315 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the sale, the director now owns 2,755 shares of the company’s stock, valued at approximately $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

A number of research analysts recently issued reports on the company. Robert W. Baird reduced their price objective on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus lowered their price target on shares of 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.

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.