4,370 Shares in Watts Water Technologies, Inc. $WTS Purchased by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new position in Watts Water Technologies, buying 4,370 shares valued at approximately $891,000 in the first quarter.
• Analysts have mixed views on the stock, with Deutsche Bank maintaining a "hold" rating while Stifel Nicolaus raised its target price from $290 to $300, giving a "buy" rating.
• Watts Water Technologies reported $3.09 earnings per share, exceeding estimates, with a quarterly revenue of $643.70 million, up 7.8% year-over-year.

Dynamic Technology Lab Private Ltd acquired a new stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,370 shares of the technology company's stock, valued at approximately $891,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Costello Asset Management INC purchased a new stake in shares of Watts Water Technologies in the first quarter valued at $33,000. Versant Capital Management Inc grew its position in shares of Watts Water Technologies by 57.3% in the first 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 grew its position in shares of Watts Water Technologies by 80.5% in the first quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock valued at $57,000 after purchasing an additional 124 shares during the period. Parallel Advisors LLC grew its position in shares of Watts Water Technologies by 45.0% in the first quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock valued at $60,000 after purchasing an additional 91 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Watts Water Technologies in the first quarter valued at $64,000. Hedge funds and other institutional investors own 95.02% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on WTS. Stifel Nicolaus boosted their price target on Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Finally, Wall Street Zen downgraded Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $245.50.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Watts Water Technologies Stock Down 0.8%

Shares of WTS traded down $2.18 during midday trading on Friday, reaching $281.55. 105,654 shares of the company were exchanged, compared to its average volume of 160,709. The stock has a 50-day moving average price of $266.48 and a 200-day moving average price of $237.49. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 3.38 and a beta of 1.11. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $285.90. 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 (NYSE:WTS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.41. The company had revenue of $643.70 million for 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 firm's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.46 earnings per share. Research analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.52 per share. 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 payout ratio is currently 22.37%.

Watts Water Technologies 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.