Watts Water Technologies, Inc. $WTS Shares Bought by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC increased its stake in Watts Water Technologies by 90.3% in the fourth quarter, owning 16,418 shares worth about $4.53 million after buying 7,789 more shares.
• Several insiders sold stock recently, including Director Michael J. Dubose and insider Elie Melhem, while insiders collectively sold 3,027 shares worth $911,262 over the last quarter.
• Watts Water Technologies reported better-than-expected quarterly results, with EPS of $3.04 and revenue of $677.3 million, and it also paid a quarterly dividend of $0.63 per share.

Magnetar Financial LLC boosted its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 90.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,418 shares of the technology company's stock after buying an additional 7,789 shares during the quarter. Magnetar Financial LLC's holdings in Watts Water Technologies were worth $4,532,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wexford Capital LP acquired a new stake in Watts Water Technologies during the 3rd quarter worth approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in Watts Water Technologies during the 4th quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in Watts Water Technologies during the 3rd quarter worth approximately $29,000. Clearstead Advisors LLC lifted its holdings in Watts Water Technologies by 69.4% during the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company's stock worth $29,000 after buying an additional 43 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Watts Water Technologies by 131.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the technology company's stock worth $53,000 after buying an additional 108 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Watts Water Technologies

In related news, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the sale, the director directly owned 1,814 shares in the company, valued at $561,668.82. This trade represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the sale, the insider owned 8,963 shares in the company, valued at $2,697,863. This represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,027 shares of company stock worth $911,262 over the last quarter. 1.00% of the stock is owned by company insiders.

Watts Water Technologies Price Performance

Shares of WTS opened at $339.20 on Wednesday. Watts Water Technologies, Inc. has a twelve month low of $238.58 and a twelve month high of $345.17. The firm's fifty day simple moving average is $305.24 and its 200-day simple moving average is $299.80. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 31.03, a PEG ratio of 2.96 and a beta of 1.19. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. During the same period last year, the business earned $2.37 EPS. Watts Water Technologies's revenue for the quarter was up 21.4% compared to the same quarter last year. Equities analysts forecast that Watts Water Technologies, Inc. will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies's dividend payout ratio (DPR) is currently 23.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WTS shares. Robert W. Baird set a $330.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Zacks Research lowered shares of Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, February 27th. Barclays reduced their price objective on shares of Watts Water Technologies from $323.00 to $317.00 and set an "equal weight" rating on the stock in a report on Monday, May 11th. Royal Bank Of Canada raised their price objective on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 28th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $329.44.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company's product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.

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