Elevation Point Wealth Partners LLC Sells 2,278 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Watts Water Technologies by 57.3% during 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. Headlands Technologies LLC lifted its position in Watts Water Technologies by 329.1% during the fourth quarter. Headlands Technologies LLC now owns 236 shares of the technology company's stock valued at $48,000 after purchasing an additional 181 shares during the period. GAMMA Investing LLC lifted its position in Watts Water Technologies by 80.5% during 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 lifted its position 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 purchasing an additional 91 shares during the period. Finally, UMB Bank n.a. lifted its position in Watts Water Technologies by 108.4% during the first 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 during the period. Institutional investors own 95.02% of the company's stock.

Insider Buying and Selling

In related news, CFO Shashank Patel sold 8,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $245.00, for a total value of $1,960,000.00. Following the completion of the transaction, the chief financial officer now owns 2,754 shares of the company's stock, valued at approximately $674,730. This represents a 74.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Timothy P. Horne sold 7,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was 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. In the last quarter, insiders sold 15,768 shares of company stock valued at $3,841,417. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

WTS has been the topic of a number of research analyst reports. Stifel Nicolaus upgraded shares of Watts Water Technologies from a "hold" rating to a "buy" rating and increased their price objective for the company from $219.00 to $229.00 in a research report on Wednesday, April 16th. Northcoast Research cut shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $222.00.

Watts Water Technologies Trading Up 0.9%

Shares of WTS stock opened at $240.99 on Tuesday. Watts Water Technologies, Inc. has a 1 year low of $175.37 and a 1 year high of $248.17. The firm has a fifty day moving average price of $224.37 and a 200-day moving average price of $214.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.42 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.25. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. The firm had revenue of $558.00 million during the quarter, compared to the consensus estimate of $547.58 million. During the same quarter in the previous year, the firm posted $2.33 EPS. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.52 dividend. The ex-dividend date was Friday, May 30th. This represents a $2.08 annualized dividend and a yield of 0.86%. This is an increase from Watts Water Technologies's previous quarterly dividend of $0.43. Watts Water Technologies's dividend payout ratio is currently 23.83%.

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.

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