Nuveen LLC Acquires New Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Key Points

• Nuveen LLC purchased 241,268 shares of Watts Water Technologies, Inc. for approximately $49.2 million, increasing its ownership to 0.72% by the end of the quarter.
• Watts Water Technologies reported earnings of $3.09 per share, surpassing analysts' expectations of $2.68, with revenue up 7.8% year-over-year.
• The company announced a quarterly dividend of $0.52 per share, reflecting a 0.8% yield, which will be paid to investors of record on August 29th.

Nuveen LLC purchased a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 241,268 shares of the technology company's stock, valued at approximately $49,199,000. Nuveen LLC owned 0.72% of Watts Water Technologies at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WTS. Costello Asset Management INC bought a new position in Watts Water Technologies in the 1st quarter worth $33,000. Versant Capital Management Inc raised its holdings in Watts Water Technologies by 57.3% in the 1st quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock worth $46,000 after purchasing an additional 82 shares during the period. GAMMA Investing LLC raised its holdings in Watts Water Technologies by 80.5% in the 1st quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock worth $57,000 after purchasing an additional 124 shares during the period. Parallel Advisors LLC raised its holdings in Watts Water Technologies by 45.0% in the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock worth $60,000 after purchasing an additional 91 shares during the period. Finally, UMB Bank n.a. raised its holdings in Watts Water Technologies by 108.4% in the 1st quarter. UMB Bank n.a. now owns 323 shares of the technology company's stock worth $66,000 after purchasing an additional 168 shares during the period. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Price Performance

Shares of Watts Water Technologies stock traded down $3.19 during trading on Friday, reaching $271.23. 156,366 shares of the stock traded hands, compared to its average volume of 247,480. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 29.16, a P/E/G ratio of 3.27 and a beta of 1.13. The business has a fifty day simple moving average of $253.02 and a two-hundred day simple moving average of $228.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.59 and a quick ratio of 1.63. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $278.20.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $3.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.41. The firm had revenue of $643.70 million during the quarter, compared to analyst estimates of $612.15 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%. The business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 earnings per share. Sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a $0.52 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 0.8%. Watts Water Technologies's dividend payout ratio (DPR) is currently 22.37%.

Insider Activity

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the sale, the director owned 1,194 shares of the company's stock, valued at $327,693.30. This trade represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Timothy P. Horne sold 7,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $241.85, for a total transaction of $1,692,950.00. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WTS. Wall Street Zen upgraded Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Stifel Nicolaus increased their price target on Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Northcoast Research lowered Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $245.50.

Watts Water Technologies Company 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.