IFC Advisors LLC Purchases Shares of 918 Watts Water Technologies, Inc. $WTS

IFC Advisors LLC purchased a new stake in Watts Water Technologies, Inc. (NYSE:WTS) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 918 shares of the technology company’s stock, valued at approximately $226,000.

Other large investors also recently modified their holdings of the company. Costello Asset Management INC bought a new position in shares of Watts Water Technologies in the first quarter valued at about $33,000. GAMMA Investing LLC raised its position in shares of Watts Water Technologies by 80.5% in the first quarter. GAMMA Investing LLC now owns 278 shares of the technology company’s stock valued at $57,000 after purchasing an additional 124 shares during the period. Summit Securities Group LLC bought a new position in shares of Watts Water Technologies in the first quarter valued at about $64,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Watts Water Technologies in the first quarter valued at about $77,000. Finally, Covestor Ltd raised its position in shares of Watts Water Technologies by 39.1% in the first quarter. Covestor Ltd now owns 423 shares of the technology company’s stock valued at $87,000 after purchasing an additional 119 shares during the period. 95.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research report on Saturday, September 27th. Wall Street Zen lowered shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. Stifel Nicolaus raised their target price on shares of 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 initiated coverage on shares of Watts Water Technologies in a research note 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 given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $253.80.

Watts Water Technologies Stock Up 1.3%

NYSE:WTS opened at $270.72 on Tuesday. The company has a market cap of $9.03 billion, a PE ratio of 29.11, a P/E/G ratio of 3.21 and a beta of 1.13. Watts Water Technologies, Inc. has a one year low of $177.59 and a one year high of $287.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.59 and a quick ratio of 1.63. The firm’s 50 day simple moving average is $276.89 and its 200 day simple moving average is $247.45.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.41. The firm had revenue of $643.70 million for the quarter, compared to the consensus estimate of $612.15 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 EPS. On average, research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were given a $0.52 dividend. The ex-dividend date was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. Watts Water Technologies’s payout ratio is 22.37%.

Insider Activity

In other news, Director Joseph T. Noonan sold 713 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the transaction, the director owned 1,194 shares in the company, valued at approximately $327,693.30. The trade was a 37.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.