Raymond James Financial Inc. Buys 9,935 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• Raymond James Financial Inc. increased its stake in Watts Water Technologies by 8.8%, owning approximately 0.37% of the company, equivalent to $25.14 million worth of stock.
• Watts Water Technologies recently reported $3.09 earnings per share, exceeding estimates, and experienced a revenue increase of 7.8% year-over-year.
• Several analysts have upgraded Watts Water Technologies, including a shift from a "hold" to a "strong-buy" rating by Wall Street Zen, with a current average target price of $245.50.

Raymond James Financial Inc. raised its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 8.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,283 shares of the technology company's stock after buying an additional 9,935 shares during the period. Raymond James Financial Inc. owned about 0.37% of Watts Water Technologies worth $25,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in WTS. Stifel Financial Corp grew its stake in shares of Watts Water Technologies by 12.9% in the 4th quarter. Stifel Financial Corp now owns 44,966 shares of the technology company's stock worth $9,141,000 after acquiring an additional 5,153 shares in the last quarter. MGO One Seven LLC grew its stake in shares of Watts Water Technologies by 14.5% in the 4th quarter. MGO One Seven LLC now owns 2,137 shares of the technology company's stock worth $434,000 after acquiring an additional 271 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Watts Water Technologies by 6.9% in the 4th quarter. Integrated Wealth Concepts LLC now owns 1,713 shares of the technology company's stock worth $348,000 after acquiring an additional 110 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Watts Water Technologies in the 4th quarter worth $1,916,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Watts Water Technologies by 8.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 67,012 shares of the technology company's stock worth $13,624,000 after acquiring an additional 5,044 shares in the last quarter. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Stock Performance

Shares of WTS stock traded down $6.21 on Friday, hitting $276.49. 307,137 shares of the stock were exchanged, compared to its average volume of 238,049. 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 firm has a market capitalization of $9.22 billion, a PE ratio of 29.73, a P/E/G ratio of 3.35 and a beta of 1.11. Watts Water Technologies, Inc. has a one year low of $177.59 and a one year high of $285.90. The firm's 50 day moving average is $260.41 and its two-hundred day moving average is $233.02.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.41. The company had revenue of $643.70 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.46 EPS. Sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Watts Water Technologies's payout ratio is presently 22.37%.

Insider Activity

In related news, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total transaction of $195,682.85. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on WTS shares. Northcoast Research lowered shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Wall Street Zen upgraded Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Stifel Nicolaus lifted their target price on Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently 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.