Pacer Advisors Inc. Boosts Holdings in Watts Water Technologies, Inc. $WTS

Key Points

• Pacer Advisors increased its stake in Watts Water Technologies by 124.4% in the fourth quarter, ending with 8,174 shares valued at about $2.26 million.
• Watts Water Technologies reported strong quarterly results, with EPS of $3.04 beating estimates and revenue of $677.3 million topping expectations, while revenue rose 21.4% year over year.
• The company declared a quarterly dividend of $0.63 per share, and analysts currently rate the stock a consensus Hold with an average price target of $329.44.

Pacer Advisors Inc. raised its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 124.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,174 shares of the technology company's stock after acquiring an additional 4,531 shares during the period. Pacer Advisors Inc.'s holdings in Watts Water Technologies were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in WTS. Centennial Wealth Advisory LLC grew its holdings in shares of Watts Water Technologies by 3.8% during the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company's stock worth $279,000 after buying an additional 37 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Watts Water Technologies by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company's stock worth $1,521,000 after acquiring an additional 38 shares during the period. Texas Yale Capital Corp. lifted its position in Watts Water Technologies by 4.4% during the 3rd quarter. Texas Yale Capital Corp. now owns 940 shares of the technology company's stock worth $263,000 after acquiring an additional 40 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Watts Water Technologies by 0.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 6,457 shares of the technology company's stock valued at $1,588,000 after purchasing an additional 40 shares during the last quarter. Finally, Journey Strategic Wealth LLC grew its stake in shares of Watts Water Technologies by 4.3% in the 3rd quarter. Journey Strategic Wealth LLC now owns 1,001 shares of the technology company's stock valued at $280,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

Watts Water Technologies Stock Performance

NYSE:WTS opened at $300.60 on Friday. The firm's fifty day simple moving average is $298.82 and its 200-day simple moving average is $293.36. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. The stock has a market cap of $10.02 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 2.66 and a beta of 1.20. Watts Water Technologies, Inc. has a fifty-two week low of $235.14 and a fifty-two week high of $345.17.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm had revenue of $677.30 million during the quarter, compared to analysts' expectations of $638.13 million. During the same quarter last year, the business earned $2.37 earnings per share. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. Analysts expect that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.63 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. Watts Water Technologies's dividend payout ratio is currently 19.03%.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the sale, the insider owned 8,963 shares of the company's stock, valued at approximately $2,697,863. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of the firm's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total value of $5,258,562.46. Following the completion of the transaction, the chief executive officer owned 191,202 shares of the company's stock, valued at approximately $62,582,326.62. This represents a 7.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,931 shares of company stock worth $10,349,195 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. HSBC started coverage on shares of Watts Water Technologies in a research note on Tuesday, January 27th. They issued a "buy" rating on the stock. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. Zacks Research lowered shares of Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 27th. KeyCorp increased their price target on shares of Watts Water Technologies from $340.00 to $360.00 and gave the stock an "overweight" rating in a report on Thursday, February 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a "neutral" rating in a research report on Friday, February 13th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $329.44.

Watts Water Technologies Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company's product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.

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