Port Capital LLC boosted its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,193 shares of the technology company's stock after buying an additional 2,275 shares during the quarter. Watts Water Technologies accounts for approximately 2.1% of Port Capital LLC's investment portfolio, making the stock its 20th largest position. Port Capital LLC owned approximately 0.69% of Watts Water Technologies worth $47,002,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Arizona State Retirement System lifted its holdings in shares of Watts Water Technologies by 0.7% during the fourth quarter. Arizona State Retirement System now owns 7,950 shares of the technology company's stock valued at $1,616,000 after purchasing an additional 56 shares during the last quarter. Andina Capital Management LLC raised its stake in shares of Watts Water Technologies by 3.5% during the 4th quarter. Andina Capital Management LLC now owns 1,708 shares of the technology company's stock worth $347,000 after purchasing an additional 58 shares in the last quarter. UMB Bank n.a. lifted its stake in Watts Water Technologies by 59.8% in the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company's stock valued at $32,000 after acquiring an additional 58 shares during the last quarter. Cerity Partners LLC increased its position in Watts Water Technologies by 0.5% during the fourth quarter. Cerity Partners LLC now owns 12,410 shares of the technology company's stock worth $2,541,000 after buying an additional 58 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Watts Water Technologies by 3.8% during the fourth quarter. Empowered Funds LLC now owns 1,652 shares of the technology company's stock valued at $336,000 after acquiring an additional 60 shares during the period. Institutional investors own 95.02% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised Watts Water Technologies from a "hold" rating to a "buy" rating and lifted their target price for the stock from $219.00 to $229.00 in a research report on Wednesday, April 16th. The Goldman Sachs Group increased their price target on Watts Water Technologies from $197.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $222.00.
Check Out Our Latest Analysis on Watts Water Technologies
Watts Water Technologies Price Performance
Shares of WTS stock opened at $239.96 on Thursday. The firm's 50 day moving average price is $207.25 and its two-hundred day moving average price is $208.57. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $248.17. The stock has a market cap of $7.99 billion, a PE ratio of 27.61, a PEG ratio of 3.42 and a beta of 1.08.
Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.25. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. The business had revenue of $558.00 million for the quarter, compared to analyst estimates of $547.58 million. During the same period last year, the company earned $2.33 EPS. The firm's revenue was down 2.3% on a year-over-year basis. As a group, analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.
Watts Water Technologies Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.08 dividend on an annualized basis and a yield of 0.87%. This is a boost from Watts Water Technologies's previous quarterly dividend of $0.43. Watts Water Technologies's payout ratio is currently 23.83%.
Insider Buying and Selling at Watts Water Technologies
In other Watts Water Technologies news, CFO Shashank Patel sold 8,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $245.00, for a total transaction of $1,960,000.00. Following the completion of the transaction, the chief financial officer now owns 2,754 shares in the company, valued at approximately $674,730. This represents a 74.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elie Melhem sold 4,397 shares of Watts Water Technologies stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total value of $925,700.41. Following the completion of the transaction, the insider now owns 10,469 shares in the company, valued at approximately $2,204,038.57. The trade was a 29.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,165 shares of company stock valued at $3,074,168. Corporate insiders own 1.00% of the company's stock.
Watts Water Technologies Company Profile
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Free Report)
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.
Further Reading
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