Bayforest Capital Ltd Has $496,000 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 stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 439.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 institutional investors have also made changes to their positions in the company. Costello Asset Management INC bought a new stake in shares of Watts Water Technologies in the first quarter worth $33,000. Versant Capital Management Inc boosted its stake in Watts Water Technologies by 57.3% during the 1st quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock valued at $46,000 after purchasing an additional 82 shares during the period. GAMMA Investing LLC lifted its holdings in Watts Water Technologies by 80.5% in the first 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 boosted its stake in Watts Water Technologies by 45.0% during the first quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock valued at $60,000 after buying an additional 91 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in Watts Water Technologies during the first quarter worth approximately $64,000. 95.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Northcoast Research lowered Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Stifel Nicolaus lifted their target price on shares of 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, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Watts Water Technologies presently has an average rating of "Hold" and an average target price of $245.50.

Watts Water Technologies Stock Performance

WTS traded down $2.18 during trading hours on Friday, reaching $281.55. The company's stock had a trading volume of 105,654 shares, compared to its average volume of 163,245. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. The company's 50-day moving average is $266.48 and its 200-day moving average is $237.15. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $285.90. The firm has a market cap of $9.39 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 3.40 and a beta of 1.11.

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 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 EPS. On average, equities analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

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

Insiders Place Their Bets

In related news, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were 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. The trade was a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate 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.