Watts Water Technologies, Inc. $WTS Shares Bought by Trexquant Investment LP

Key Points

• Trexquant Investment LP significantly increased its holdings in Watts Water Technologies by 746.3% in Q1 2023, owning about 31,905 shares valued at $6.5 million.
• Watts Water Technologies reported $3.09 EPS for the latest quarter, exceeding analysts' estimates of $2.68 and marking a 7.8% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.52 per share, with a dividend yield of 0.8% and a payout ratio of 22.37%.

Trexquant Investment LP grew its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 746.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,905 shares of the technology company's stock after buying an additional 28,135 shares during the quarter. Trexquant Investment LP owned 0.10% of Watts Water Technologies worth $6,506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Watts Water Technologies by 18.6% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,463,375 shares of the technology company's stock valued at $500,804,000 after acquiring an additional 386,333 shares in the last quarter. Boston Partners increased its position in shares of Watts Water Technologies by 43.3% in the 1st quarter. Boston Partners now owns 905,783 shares of the technology company's stock worth $184,708,000 after purchasing an additional 273,628 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Watts Water Technologies in the 1st quarter valued at about $49,199,000. GAMMA Investing LLC lifted its position in shares of Watts Water Technologies by 36,711.7% during the first quarter. GAMMA Investing LLC now owns 56,690 shares of the technology company's stock worth $11,560,000 after purchasing an additional 56,536 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Watts Water Technologies by 11.4% in the fourth quarter. Northern Trust Corp now owns 398,341 shares of the technology company's stock worth $80,983,000 after purchasing an additional 40,738 shares in the last quarter. Institutional investors own 95.02% of the company's stock.

Watts Water Technologies Stock Performance

WTS traded down $2.34 during trading on Wednesday, reaching $275.40. 111,043 shares of the company were exchanged, compared to its average volume of 200,461. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $285.90. 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 50 day moving average of $262.31 and a 200 day moving average of $234.05. The stock has a market cap of $9.19 billion, a P/E ratio of 29.61, a PEG ratio of 3.35 and a beta of 1.11.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.41. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The company had revenue of $643.70 million for the quarter, compared to analysts' expectations of $612.15 million. During the same period last year, the business posted $2.46 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have commented on WTS. Wall Street Zen raised Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Stifel Nicolaus lifted their price objective on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Northcoast Research cut shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $245.50.

Insider Buying and Selling

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the sale, the director owned 1,194 shares in the company, valued at approximately $327,693.30. This trade represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

Watts Water Technologies 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.