Bayforest Capital Ltd Boosts Stock Holdings in Watts Water Technologies, Inc. $WTS

Key Points

• Bayforest Capital Ltd significantly increased its stake in Watts Water Technologies, acquiring a 439% increase with holdings now valued at $496,000.
• Analysts have mixed sentiments on Watts Water Technologies, with a recent downgrade from Northcoast Research and an updated price objective of $300 from Stifel Nicolaus.
• Watts Water Technologies recently announced a quarterly dividend of $0.52, with a payout ratio of 22.37% and a dividend yield of 0.8%.

Bayforest Capital Ltd grew its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 439.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,431 shares of the technology company's stock after buying an additional 1,980 shares during the period. Bayforest Capital Ltd's holdings in Watts Water Technologies were worth $496,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Watts Water Technologies by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company's stock worth $20,163,000 after acquiring an additional 7,537 shares during the period. Vancity Investment Management Ltd purchased a new position in shares of Watts Water Technologies in the first quarter worth $869,000. United Services Automobile Association purchased a new position in shares of Watts Water Technologies in the first quarter worth $369,000. Voleon Capital Management LP raised its stake in Watts Water Technologies by 54.1% during the first quarter. Voleon Capital Management LP now owns 7,812 shares of the technology company's stock valued at $1,593,000 after purchasing an additional 2,744 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Watts Water Technologies by 80.2% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company's stock valued at $222,000 after purchasing an additional 445 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the transaction, the director directly owned 1,194 shares of the company's stock, valued at approximately $327,693.30. This trade represents a 37.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company's stock.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock traded up $0.79 during midday trading on Monday, hitting $282.23. The company had a trading volume of 27,289 shares, compared to its average volume of 197,478. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 3.38 and a beta of 1.11. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $266.48 and a 200 day simple moving average of $237.49. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $285.90.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The technology company reported $3.09 EPS for the quarter, beating the consensus estimate 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 net margin of 13.63% and a return on equity of 18.11%. Watts Water Technologies's revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. As a group, analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies's dividend payout ratio (DPR) is currently 22.37%.

Analysts Set New Price Targets

WTS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Wall Street Zen cut shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies presently has an average rating of "Hold" and a consensus 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.