Wealth Enhancement Advisory Services LLC Invests $343,000 in Watts Water Technologies, Inc. $WTS

Key Points

• Wealth Enhancement Advisory Services LLC has invested approximately $343,000 in Watts Water Technologies, purchasing 1,345 shares during the 2nd quarter.
• Watts Water Technologies reported quarterly earnings of $3.09 per share, exceeding estimates and reflecting a 7.8% revenue increase year-over-year, totaling $643.70 million.
• The company recently declared a quarterly dividend of $0.52 per share, resulting in an annualized yield of 0.7% with a payout ratio of 22.37%.

Wealth Enhancement Advisory Services LLC purchased a new position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,345 shares of the technology company's stock, valued at approximately $343,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Watts Water Technologies by 1.0% during the first quarter. Principal Financial Group Inc. now owns 78,159 shares of the technology company's stock worth $15,938,000 after acquiring an additional 795 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Watts Water Technologies by 124.5% during the first quarter. Assenagon Asset Management S.A. now owns 24,273 shares of the technology company's stock worth $4,950,000 after acquiring an additional 13,460 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Watts Water Technologies by 13.9% during the first quarter. QRG Capital Management Inc. now owns 2,869 shares of the technology company's stock worth $585,000 after acquiring an additional 350 shares in the last quarter. KBC Group NV lifted its holdings in Watts Water Technologies by 0.5% during the first quarter. KBC Group NV now owns 324,669 shares of the technology company's stock worth $66,207,000 after acquiring an additional 1,662 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Watts Water Technologies by 80.5% during the first quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock worth $57,000 after acquiring an additional 124 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WTS shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Watts Water Technologies in a report on Saturday, September 27th. Wall Street Zen lowered Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Stifel Nicolaus boosted their price target on Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Barclays assumed coverage on Watts Water Technologies in a report on Friday, September 19th. They issued an "equal weight" rating and a $287.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $253.80.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $277.86 on Wednesday. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $287.89. The stock's 50 day moving average is $275.97 and its 200-day moving average is $245.45. 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 company has a market capitalization of $9.27 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 3.39 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $643.70 million during the quarter, compared to analysts' expectations of $612.15 million. During the same period in the previous year, the company posted $2.46 earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 29th. Watts Water Technologies's dividend payout ratio (DPR) is presently 22.37%.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the stock in a transaction dated 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 approximately $327,693.30. This trade represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company's stock.

About Watts Water Technologies

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.

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