Vestmark Advisory Solutions Inc. Buys 15,402 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Watts Water Technologies by 85.3%, now holding approximately 0.10% of the company valued at $6.82 million.
• Watts Water Technologies reported a quarterly earnings per share of $3.09, exceeding expectations and marking a 7.8% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.52, with a dividend yield of 0.8% and a payout ratio of 22.37%.

Vestmark Advisory Solutions Inc. grew its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 85.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,458 shares of the technology company's stock after purchasing an additional 15,402 shares during the period. Vestmark Advisory Solutions Inc. owned about 0.10% of Watts Water Technologies worth $6,823,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp raised its holdings in Watts Water Technologies by 2.0% in the first quarter. Mackenzie Financial Corp now owns 4,172 shares of the technology company's stock worth $851,000 after purchasing an additional 80 shares during the period. Versant Capital Management Inc lifted its stake in Watts Water Technologies by 57.3% in the first quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock valued at $46,000 after buying an additional 82 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in Watts Water Technologies by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 3,207 shares of the technology company's stock valued at $653,000 after buying an additional 85 shares in the last quarter. Parallel Advisors LLC lifted its stake in Watts Water Technologies by 45.0% in the first quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock valued at $60,000 after buying an additional 91 shares in the last quarter. Finally, State of Michigan Retirement System lifted its stake in Watts Water Technologies by 1.5% in the first quarter. State of Michigan Retirement System now owns 6,595 shares of the technology company's stock valued at $1,345,000 after buying an additional 100 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on WTS. Deutsche Bank Aktiengesellschaft reaffirmed 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. Northcoast Research downgraded shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Finally, Stifel Nicolaus raised their target price on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $245.50.

Insider Buying and Selling at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 713 shares of the company'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 completion of the sale, the director directly owned 1,194 shares in the company, valued at $327,693.30. This represents a 37.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Timothy P. Horne sold 7,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $241.85, for a total transaction of $1,692,950.00. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Watts Water Technologies Stock Performance

Shares of WTS stock traded up $3.6950 on Tuesday, hitting $278.1050. The company's stock had a trading volume of 75,327 shares, compared to its average volume of 200,818. The company has a market capitalization of $9.28 billion, a PE ratio of 29.92, a PEG ratio of 3.27 and a beta of 1.13. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $279.16. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. The stock's 50 day moving average is $253.60 and its 200-day moving average is $228.74.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.41. The company had revenue of $643.70 million for the quarter, compared to analyst estimates of $612.15 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.Watts Water Technologies's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 EPS. Equities research 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 paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 0.7%. Watts Water Technologies's dividend payout ratio is presently 22.37%.

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.