Elevation Point Wealth Partners LLC Has $247,000 Stock Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Elevation Point Wealth Partners LLC cut its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 65.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,212 shares of the technology company's stock after selling 2,278 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Watts Water Technologies were worth $247,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WTS. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Watts Water Technologies by 18.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,463,375 shares of the technology company's stock worth $500,804,000 after buying an additional 386,333 shares during the period. Norges Bank bought a new position in Watts Water Technologies in the 4th quarter valued at about $60,887,000. Champlain Investment Partners LLC lifted its position in Watts Water Technologies by 85.1% during the fourth quarter. Champlain Investment Partners LLC now owns 422,026 shares of the technology company's stock worth $85,798,000 after acquiring an additional 194,033 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Watts Water Technologies during the fourth quarter worth approximately $23,044,000. Finally, GAMMA Investing LLC grew its position in shares of Watts Water Technologies by 36,711.7% in the first quarter. GAMMA Investing LLC now owns 56,690 shares of the technology company's stock valued at $11,560,000 after purchasing an additional 56,536 shares during the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Stifel Nicolaus set a $275.00 price target on Watts Water Technologies and gave the stock a "buy" rating in a report on Wednesday. Northcoast Research cut Watts Water Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, May 16th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Watts Water Technologies presently has a consensus rating of "Hold" and an average target price of $231.20.

Watts Water Technologies Price Performance

Shares of WTS stock traded down $0.77 during trading on Friday, hitting $240.29. The company had a trading volume of 133,733 shares, compared to its average volume of 195,002. The firm has a market capitalization of $8.02 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 3.51 and a beta of 1.13. Watts Water Technologies, Inc. has a one year low of $175.37 and a one year high of $248.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.53 and a current ratio of 2.46. The stock's 50-day moving average price is $227.23 and its 200 day moving average price is $214.64.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.25. The firm had revenue of $558.00 million during the quarter, compared to analysts' expectations of $547.58 million. Watts Water Technologies had a return on equity of 17.59% and a net margin of 13.07%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.33 EPS. Equities analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.87%. This is an increase from Watts Water Technologies's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, May 30th. Watts Water Technologies's dividend payout ratio is presently 23.83%.

Insiders Place Their Bets

In other news, insider Monica Barry sold 768 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $245.40, for a total transaction of $188,467.20. Following the completion of the sale, the insider now owns 6,236 shares of the company's stock, valued at approximately $1,530,314.40. This represents a 10.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Timothy P. Horne sold 7,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $241.85, for a total transaction of $1,692,950.00. The disclosure for this sale can be found here. Insiders have sold 15,768 shares of company stock worth $3,841,417 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

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.