Tounjian Advisory Partners LLC Takes $343,000 Position in Watts Water Technologies, Inc. (NYSE:WTS)

Tounjian Advisory Partners LLC acquired a new position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,684 shares of the technology company's stock, valued at approximately $343,000.

Several other institutional investors also recently modified their holdings of WTS. UMB Bank n.a. boosted its holdings in shares of Watts Water Technologies by 108.4% during the 1st quarter. UMB Bank n.a. now owns 323 shares of the technology company's stock worth $66,000 after buying an additional 168 shares during the period. Impact Capital Partners LLC boosted its holdings in Watts Water Technologies by 7.9% in the 1st quarter. Impact Capital Partners LLC now owns 4,141 shares of the technology company's stock valued at $844,000 after purchasing an additional 303 shares during the period. Curat Global LLC bought a new stake in Watts Water Technologies in the 1st quarter valued at about $530,000. E. Ohman J or Asset Management AB boosted its holdings in Watts Water Technologies by 41.3% in the 1st quarter. E. Ohman J or Asset Management AB now owns 17,089 shares of the technology company's stock valued at $3,485,000 after purchasing an additional 4,992 shares during the period. Finally, Vest Financial LLC bought a new stake in Watts Water Technologies in the 1st quarter valued at about $3,252,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Price Performance

WTS stock traded down $0.54 during trading on Wednesday, reaching $244.74. 248,443 shares of the company were exchanged, compared to its average volume of 174,942. The company has a 50-day moving average of $219.65 and a two-hundred day moving average of $213.40. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 3.42 and a beta of 1.13. Watts Water Technologies, Inc. has a twelve month low of $175.37 and a twelve month high of $248.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65.

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

Watts Water Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.85%. This is a boost from Watts Water Technologies's previous quarterly dividend of $0.43. The ex-dividend date is Friday, May 30th. Watts Water Technologies's dividend payout ratio is currently 23.83%.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, CFO Shashank Patel sold 8,000 shares of the company's stock in a transaction that occurred 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 directly owns 2,754 shares in the company, valued at approximately $674,730. This represents a 74.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the insider now owns 6,236 shares of the company's stock, valued at approximately $1,530,314.40. This trade represents a 10.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,768 shares of company stock worth $3,841,417. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Northcoast Research downgraded shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Stifel Nicolaus upgraded shares of Watts Water Technologies from a "hold" rating to a "buy" rating and boosted their target price for the company from $219.00 to $229.00 in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $222.00.

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.