AlphaQuest LLC Acquires 4,753 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• AlphaQuest LLC increased its stake in Watts Water Technologies by 538.9% to a total of 5,635 shares, valued at approximately $1.15 million.
• Watts Water Technologies reported earnings of $3.09 per share for the recent quarter, exceeding expectations by 41 cents, along with a revenue increase of 7.8% year-over-year.
• A quarterly dividend of $0.52 per share was announced, with a yield of 0.7%, and is set to be paid on September 15th to shareholders on record as of August 29th.

AlphaQuest LLC increased its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 538.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,635 shares of the technology company's stock after buying an additional 4,753 shares during the quarter. AlphaQuest LLC's holdings in Watts Water Technologies were worth $1,149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Costello Asset Management INC acquired a new position in Watts Water Technologies in the 1st quarter worth about $33,000. Versant Capital Management Inc increased 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 in the last quarter. GAMMA Investing LLC increased 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 in the last quarter. Parallel Advisors LLC increased 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 in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Watts Water Technologies in the 1st quarter worth about $64,000. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Trading Down 1.3%

NYSE WTS traded down $3.65 during trading hours on Friday, hitting $278.54. 101,644 shares of the company's stock were exchanged, compared to its average volume of 200,044. The stock has a 50-day simple moving average of $259.68 and a 200 day simple moving average of $232.49. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 3.44 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 $285.90.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.41. The business had revenue of $643.70 million for 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 company's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 earnings per share. On average, equities analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 29th. Watts Water Technologies's dividend payout ratio (DPR) is currently 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 that occurred on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WTS has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Wall Street Zen raised Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Stifel Nicolaus increased their price target on Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Northcoast Research cut Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies has an average rating of "Hold" and an average price target of $245.50.

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.