Element Capital Management LLC Takes Position in Watts Water Technologies, Inc. $WTS

Key Points

• Element Capital Management LLC has made a new investment of approximately $2.62 million in Watts Water Technologies, acquiring 12,847 shares in the first quarter.
• Major institutional investors are increasing their stakes in Watts Water Technologies, with Kayne Anderson Rudnick raising its stake by 18.6% and Boston Partners by 43.3%.
• Watts Water Technologies announced a quarterly dividend of $0.52 per share, payable on September 15th, reflecting a 0.8% dividend yield.

Element Capital Management LLC bought a new position in shares of 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 bought 12,847 shares of the technology company's stock, valued at approximately $2,620,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Costello Asset Management INC acquired a new stake in shares of Watts Water Technologies during the first quarter worth about $33,000. Versant Capital Management Inc boosted its position 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 grew its stake in shares of Watts Water Technologies by 80.5% during 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 during the period. Parallel Advisors LLC increased its holdings in shares of Watts Water Technologies by 45.0% during the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock valued at $60,000 after purchasing an additional 91 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Watts Water Technologies by 108.4% during the 1st quarter. UMB Bank n.a. now owns 323 shares of the technology company's stock valued at $66,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

Watts Water Technologies Trading Up 1.4%

NYSE WTS traded up $3.8160 on Tuesday, reaching $278.2260. 135,582 shares of the company were exchanged, compared to its average volume of 201,218. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. The business's fifty day moving average price is $254.25 and its 200 day moving average price is $229.09. The stock has a market capitalization of $9.28 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 3.27 and a beta of 1.13. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $279.16.

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 for the quarter, beating the consensus estimate of $2.68 by $0.41. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The firm had revenue of $643.70 million for the quarter, compared to analysts' expectations of $612.15 million. During the same quarter in the previous year, the company posted $2.46 EPS. The company's revenue was up 7.8% compared to the same quarter last year. Analysts forecast that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

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

Insider Buying and Selling at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 7,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $241.85, for a total transaction of $1,692,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph T. Noonan sold 713 shares of the stock in a transaction dated 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 directly owned 1,194 shares in the company, valued at approximately $327,693.30. The trade was a 37.39% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WTS shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Wall Street Zen upgraded Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Stifel Nicolaus boosted their price objective 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. Finally, Northcoast Research cut Watts Water Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.