Watts Water Technologies, Inc. $WTS Shares Purchased by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its stake in Watts Water Technologies by 26.6% in the first quarter, holding 34,579 shares valued at about $10.0 million.
• Insiders sold shares recently, including Director Michael J. Dubose and insider Elie Melhem, while institutional investors continue to own the vast majority of the stock at 95.02%.
• Watts Water Technologies reported strong quarterly results, with EPS of $3.04 and revenue of $677.3 million, both beating estimates; the company also paid a quarterly dividend of $0.63 per share and received a Barclays upgrade to overweight.

Candriam S.C.A. boosted its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 26.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,579 shares of the technology company's stock after acquiring an additional 7,256 shares during the period. Candriam S.C.A. owned about 0.10% of Watts Water Technologies worth $10,038,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WTS. Integrated Wealth Concepts LLC raised its position in shares of Watts Water Technologies by 10.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company's stock worth $385,000 after purchasing an additional 174 shares during the period. Jones Financial Companies Lllp boosted its position in Watts Water Technologies by 80.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company's stock valued at $222,000 after purchasing an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company's stock worth $20,163,000 after buying an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Watts Water Technologies during the 2nd quarter worth $219,000. Finally, Cetera Investment Advisers increased its position in Watts Water Technologies by 43.2% in the second quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company's stock worth $426,000 after buying an additional 523 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Michael J. Dubose sold 398 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the sale, the director directly owned 1,814 shares of the company's stock, valued at approximately $561,668.82. This represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Elie Melhem sold 2,257 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the transaction, the insider owned 8,963 shares in the company, valued at $2,697,863. This represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company's stock.

Watts Water Technologies Trading Down 0.0%

Shares of WTS stock opened at $352.19 on Monday. Watts Water Technologies, Inc. has a 1 year low of $242.77 and a 1 year high of $394.54. The firm has a market capitalization of $11.76 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 3.10 and a beta of 1.14. The stock has a fifty day moving average of $326.15 and a two-hundred day moving average of $310.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.32. The company had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The company's quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the company earned $2.37 earnings per share. As a group, research analysts expect that Watts Water Technologies, Inc. will post 12.03 EPS for the current year.

Watts Water Technologies Announces Dividend

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

Analyst Ratings Changes

WTS has been the subject of several analyst reports. Barclays raised shares of Watts Water Technologies from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $317.00 to $414.00 in a report on Tuesday, June 30th. TD Cowen increased their price objective on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $358.00 price objective on shares of Watts Water Technologies in a research report on Friday, May 8th. Stifel Nicolaus set a $379.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Finally, Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $338.20.

Watts Water Technologies Company Profile

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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