Watts Water Technologies, Inc. $WTS Shares Bought by SummitTX Capital L.P.

by · The Cerbat Gem

SummitTX Capital L.P. increased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 108.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,545 shares of the technology company’s stock after acquiring an additional 8,093 shares during the quarter. SummitTX Capital L.P.’s holdings in Watts Water Technologies were worth $4,513,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in WTS. Norges Bank acquired a new stake in Watts Water Technologies in the 4th quarter worth about $100,627,000. AQR Capital Management LLC grew its holdings in Watts Water Technologies by 148.3% in the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after purchasing an additional 165,837 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Watts Water Technologies by 20,071.4% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock valued at $40,989,000 after purchasing an additional 140,500 shares during the period. UBS Group AG increased its position in Watts Water Technologies by 223.0% during the third quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after purchasing an additional 139,637 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Watts Water Technologies by 79.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company’s stock worth $78,067,000 after purchasing an additional 125,218 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction 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 transaction, the director owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the transaction, the insider directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Watts Water Technologies Trading Up 0.5%

Shares of WTS opened at $346.17 on Tuesday. The stock’s 50-day moving average is $336.84 and its two-hundred day moving average is $315.24. The stock has a market cap of $11.56 billion, a PE ratio of 31.67, a P/E/G ratio of 2.98 and a beta of 1.14. Watts Water Technologies, Inc. has a 12 month low of $250.82 and a 12 month high of $394.54. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62.

Watts Water Technologies (NYSE:WTS – Get Free Report) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.32. The company had revenue of $677.30 million during the quarter, compared to the consensus estimate 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 revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.37 earnings per share. Equities analysts forecast that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders 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 of this dividend was Monday, June 1st. Watts Water Technologies’s payout ratio is presently 23.06%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. TD Cowen lifted their target price on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Watts Water Technologies currently has a consensus rating of “Hold” and a consensus target price of $345.30.

Get Our Latest Research Report on WTS

Watts Water Technologies Company Profile

(Free Report)

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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