Gabelli Funds LLC Has $43.28 Million Holdings in Watts Water Technologies, Inc. $WTS

Gabelli Funds LLC decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 156,800 shares of the technology company’s stock after selling 7,100 shares during the period. Gabelli Funds LLC’s holdings in Watts Water Technologies were worth $43,280,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Beacon Harbor Wealth Advisors Inc. bought a new position in Watts Water Technologies in the third quarter worth approximately $6,444,000. Allianz Asset Management GmbH boosted its holdings in Watts Water Technologies by 17.7% in the third quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company’s stock worth $50,375,000 after acquiring an additional 27,093 shares in the last quarter. Boothbay Fund Management LLC bought a new position in Watts Water Technologies in the third quarter worth approximately $6,308,000. Clark Capital Management Group Inc. boosted its holdings in Watts Water Technologies by 17.4% in the third quarter. Clark Capital Management Group Inc. now owns 27,985 shares of the technology company’s stock worth $7,816,000 after acquiring an additional 4,140 shares in the last quarter. Finally, AE Wealth Management LLC boosted its holdings in Watts Water Technologies by 10.9% in the third quarter. AE Wealth Management LLC now owns 138,293 shares of the technology company’s stock worth $38,622,000 after acquiring an additional 13,642 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WTS shares. Barclays cut their price target on Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. KeyCorp increased their price target on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Stifel Nicolaus set a $379.00 target price on Watts Water Technologies in a report on Friday, May 8th. The Goldman Sachs Group raised their target price on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Finally, Robert W. Baird set a $330.00 target price on Watts Water Technologies in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Watts Water Technologies presently has a consensus rating of “Hold” and an average price target of $329.44.

Insider Buying and Selling

In related news, major shareholder Timothy P. Horne sold 7,500 shares of Watts Water Technologies stock in a transaction on Friday, February 20th. The stock was sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the sale, the insider directly owned 7,500 shares in the company, valued at approximately $2,475,300. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of Watts Water Technologies stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $327.31, for a total value of $5,258,562.46. Following the sale, the chief executive officer owned 191,202 shares in the company, valued at $62,582,326.62. This trade represents a 7.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 31,931 shares of company stock valued at $10,349,195. 1.00% of the stock is currently owned by company insiders.

Watts Water Technologies Stock Down 0.3%

WTS stock opened at $296.06 on Monday. Watts Water Technologies, Inc. has a twelve month low of $235.14 and a twelve month high of $345.17. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average is $298.35 and its 200-day moving average is $293.50. The firm has a market capitalization of $9.89 billion, a PE ratio of 27.09, a P/E/G ratio of 2.64 and a beta of 1.20.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The company had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. During the same quarter last year, the company earned $2.37 earnings per share. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. Sell-side analysts expect that Watts Water Technologies, Inc. will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is currently 19.03%.

Watts Water Technologies 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.