6,446 Shares in Watts Water Technologies, Inc. $WTS Acquired by Smith Group Asset Management LLC

Key Points

• Smith Group Asset Management LLC acquired 6,446 shares of Watts Water Technologies, valued at approximately $1,585,000, indicating continued institutional interest in the company.
• Watts Water Technologies reported earnings of $3.09 per share, exceeding analysts' expectations, with revenue increasing by 7.8% year-over-year to $643.70 million.
• Analysts currently have an average rating of "Hold" on the stock, with a price target of $253.80, showing mixed sentiment among experts regarding its future performance.

Smith Group Asset Management LLC purchased a new position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,446 shares of the technology company's stock, valued at approximately $1,585,000.

A number of other large investors have also bought and sold shares of WTS. GAMMA Investing LLC grew its position in Watts Water Technologies by 80.5% during the 1st quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock worth $57,000 after acquiring an additional 124 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Watts Water Technologies by 1.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,854 shares of the technology company's stock worth $2,621,000 after acquiring an additional 181 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Watts Water Technologies by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 3,207 shares of the technology company's stock worth $653,000 after buying an additional 85 shares in the last quarter. Perpetual Ltd lifted its holdings in Watts Water Technologies by 12.3% during the 1st quarter. Perpetual Ltd now owns 58,817 shares of the technology company's stock worth $11,994,000 after buying an additional 6,449 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in Watts Water Technologies by 3.2% during the 1st quarter. Diversified Trust Co now owns 4,376 shares of the technology company's stock worth $892,000 after buying an additional 136 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on WTS shares. Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Watts Water Technologies in a report on Tuesday, October 14th. Stifel Nicolaus upped their price objective on Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Barclays assumed coverage on Watts Water Technologies in a report on Friday, September 19th. They set an "equal weight" rating and a $287.00 price objective on the stock. Finally, Zacks Research downgraded Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $253.80.

Watts Water Technologies Price Performance

WTS stock opened at $279.02 on Friday. The stock has a 50-day moving average price of $278.58 and a two-hundred day moving average price of $251.25. The stock has a market cap of $9.31 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 3.37 and a beta of 1.13. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $287.89.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.41. The firm had revenue of $643.70 million during the quarter, compared to analysts' expectations of $612.15 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The company's revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. Equities analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were issued a $0.52 dividend. The ex-dividend date was Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies's dividend payout ratio (DPR) is presently 22.37%.

Insider Buying and Selling at Watts Water Technologies

In other news, Director Joseph T. Noonan sold 713 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the transaction, the director owned 1,194 shares in the company, valued at $327,693.30. This trade represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

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.

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