7,065 Shares in Watts Water Technologies, Inc. $WTS Acquired by Mach 1 Financial Group LLC

Key Points

• Mach 1 Financial Group LLC opened a new position in Watts Water Technologies during the fourth quarter, buying 7,065 shares valued at about $1.95 million.
• Watts Water Technologies reported a strong quarter, with EPS of $3.04 beating estimates and revenue of $677.3 million topping forecasts; revenue also rose 21.4% year over year.
• The company declared a quarterly dividend of $0.63 per share, and analysts currently have a Hold consensus rating with an average price target of $329.44.

Mach 1 Financial Group LLC bought a new position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,065 shares of the technology company's stock, valued at approximately $1,950,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wexford Capital LP bought a new position in Watts Water Technologies in the 3rd quarter worth approximately $26,000. Advisory Services Network LLC bought a new position in Watts Water Technologies in the 3rd quarter worth approximately $29,000. Stance Capital LLC bought a new position in Watts Water Technologies in the 3rd quarter worth approximately $62,000. Allworth Financial LP increased its position in Watts Water Technologies by 29.7% in the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company's stock worth $71,000 after buying an additional 58 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Watts Water Technologies by 144.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 291 shares of the technology company's stock worth $81,000 after buying an additional 172 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $299.49 on Thursday. The business's fifty day moving average price is $297.70 and its two-hundred day moving average price is $294.03. Watts Water Technologies, Inc. has a fifty-two week low of $235.14 and a fifty-two week high of $345.17. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 27.40, a price-to-earnings-growth ratio of 2.63 and a beta of 1.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping analysts' consensus estimates of $2.72 by $0.32. The company had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The business's revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.37 earnings per share. As a group, analysts predict that Watts Water Technologies, Inc. will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.8%. Watts Water Technologies's payout ratio is currently 19.03%.

Wall Street Analyst Weigh In

Several brokerages have commented on WTS. Weiss Ratings downgraded Watts Water Technologies from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 11th. Stifel Nicolaus set a $379.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Finally, HSBC began coverage on Watts Water Technologies in a research report on Tuesday, January 27th. They issued a "buy" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Watts Water Technologies currently has a consensus rating of "Hold" and an average price target of $329.44.

Insiders Place Their Bets

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the business's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider owned 8,963 shares of the company's stock, valued at approximately $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Dubose sold 332 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $301.70, for a total value of $100,164.40. Following the completion of the transaction, the director directly owned 2,212 shares in the company, valued at approximately $667,360.40. This represents a 13.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 10,840 shares of company stock valued at $3,477,205. 1.00% of the stock is currently owned by corporate insiders.

Watts Water Technologies Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company's product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.

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