Tidal Investments LLC Boosts Stock Holdings in Watts Water Technologies, Inc. $WTS

Key Points

• Tidal Investments increased its Watts Water Technologies stake by 18.7% in the second quarter, bringing its holdings to 30,668 shares worth approximately $12.0 million. Institutional investors collectively own 95.02% of the company.
• Watts Water Technologies reported strong quarterly results, with EPS of $3.66 and revenue of $763.1 million, surpassing analyst estimates and representing 18.6% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.63 per share, equal to a $2.52 annualized payout and a 0.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $367.70.

Tidal Investments LLC grew its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 18.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,668 shares of the technology company's stock after purchasing an additional 4,832 shares during the period. Tidal Investments LLC owned approximately 0.09% of Watts Water Technologies worth $12,005,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Advyzon Investment Management LLC grew its stake in Watts Water Technologies by 3.8% in the 4th quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company's stock valued at $233,000 after buying an additional 31 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Watts Water Technologies by 0.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company's stock worth $1,149,000 after acquiring an additional 32 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its position in shares of Watts Water Technologies by 5.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company's stock worth $179,000 after acquiring an additional 34 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Watts Water Technologies by 0.7% in the fourth 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. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Watts Water Technologies by 1.5% in the first quarter. Apollon Wealth Management LLC now owns 2,702 shares of the technology company's stock worth $784,000 after acquiring an additional 40 shares during the period. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $356.01 on Friday. The firm has a market capitalization of $11.88 billion, a P/E ratio of 31.09, a P/E/G ratio of 3.43 and a beta of 1.13. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The stock's 50-day simple moving average is $360.78 and its two-hundred day simple moving average is $329.55. Watts Water Technologies, Inc. has a twelve month low of $260.00 and a twelve month high of $394.54.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The firm had revenue of $763.10 million during the quarter, compared to the consensus estimate of $725.99 million. During the same quarter last year, the company posted $3.09 EPS. The company's revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities analysts anticipate that Watts Water Technologies, Inc. will post 12.75 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies's payout ratio is presently 22.01%.

Insider Activity at Watts Water Technologies

In other news, Director Joseph T. Noonan sold 3,650 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Elie Melhem sold 1,096 shares of Watts Water Technologies stock in a transaction on Friday, September 4th. The stock was sold at an average price of $359.55, for a total transaction of $394,066.80. Following the sale, the insider directly owned 7,867 shares of the company's stock, valued at $2,828,579.85. This represents a 12.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WTS shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $374.00 price objective on shares of Watts Water Technologies in a research note on Friday, August 7th. TD Cowen lifted their target price on Watts Water Technologies from $275.00 to $320.00 and gave the company a "hold" rating in a report on Thursday, July 2nd. Robert W. Baird set a $405.00 price target on Watts Water Technologies in a research report on Friday, August 7th. Weiss Ratings raised shares of Watts Water Technologies from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, September 1st. Finally, KeyCorp raised their price objective on shares of Watts Water Technologies from $380.00 to $400.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $367.70.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a manufacturer of products and systems designed to manage the safety, efficiency, and quality of water within residential, commercial, and industrial plumbing and heating applications. Its offerings help regulate water pressure and temperature, prevent backflow and contamination, control flow, and improve water quality.

The company's products include valves, backflow prevention devices, regulators, drainage and plumbing components, water filtration and treatment systems, electric and hydronic heating equipment, and related controls.

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