Dark Forest Capital Management LP Buys New Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Dark Forest Capital Management LP purchased a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,071 shares of the technology company's stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stifel Financial Corp grew its holdings in Watts Water Technologies by 12.9% during the fourth quarter. Stifel Financial Corp now owns 44,966 shares of the technology company's stock worth $9,141,000 after acquiring an additional 5,153 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Watts Water Technologies by 18.6% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,463,375 shares of the technology company's stock worth $500,804,000 after purchasing an additional 386,333 shares in the last quarter. Mirova boosted its holdings in Watts Water Technologies by 2.5% during the fourth quarter. Mirova now owns 5,521 shares of the technology company's stock worth $1,122,000 after buying an additional 133 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Watts Water Technologies by 8.1% in the fourth quarter. MetLife Investment Management LLC now owns 31,504 shares of the technology company's stock valued at $6,405,000 after buying an additional 2,356 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Watts Water Technologies by 6.6% during the 4th quarter. First Trust Advisors LP now owns 229,546 shares of the technology company's stock worth $46,667,000 after acquiring an additional 14,239 shares in the last quarter. Institutional investors own 95.02% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus raised Watts Water Technologies from a "hold" rating to a "buy" rating and boosted their target price for the stock from $219.00 to $229.00 in a research report on Wednesday, April 16th. The Goldman Sachs Group upped their price objective on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $222.00.

Watts Water Technologies Stock Up 2.1 %

Watts Water Technologies stock traded up $4.32 during mid-day trading on Friday, hitting $214.84. The company's stock had a trading volume of 25,347 shares, compared to its average volume of 168,730. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $232.60. The firm's 50 day moving average is $204.36 and its 200 day moving average is $207.04. The company has a market cap of $7.16 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 3.42 and a beta of 0.95.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. On average, analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, February 28th. Watts Water Technologies's dividend payout ratio is currently 19.79%.

Insider Buying and Selling

In other Watts Water Technologies news, insider Elie Melhem sold 4,397 shares of Watts Water Technologies stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total value of $925,700.41. Following the completion of the sale, the insider now directly owns 10,469 shares in the company, valued at $2,204,038.57. The trade was a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.