New York State Teachers Retirement System Increases Stake in Watts Water Technologies, Inc. $WTS

New York State Teachers Retirement System raised its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 5.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,046 shares of the technology company’s stock after purchasing an additional 1,752 shares during the quarter. New York State Teachers Retirement System’s holdings in Watts Water Technologies were worth $10,174,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Boston Partners lifted its stake in shares of Watts Water Technologies by 2.2% in the third quarter. Boston Partners now owns 907,336 shares of the technology company’s stock worth $253,211,000 after buying an additional 19,247 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Watts Water Technologies by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 832,148 shares of the technology company’s stock valued at $229,721,000 after acquiring an additional 25,501 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Watts Water Technologies by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 522,624 shares of the technology company’s stock worth $144,261,000 after acquiring an additional 1,418 shares during the last quarter. Invesco Ltd. raised its holdings in Watts Water Technologies by 34.4% in the 3rd quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after acquiring an additional 120,090 shares during the last quarter. Finally, Norges Bank bought a new position in Watts Water Technologies in the 4th quarter valued at approximately $100,627,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the transaction, the director directly owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

WTS has been the topic of several recent analyst reports. Royal Bank Of Canada increased their target price on Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. TD Cowen upped their price target on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a report on Thursday. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a research report on Friday, May 8th. Finally, Barclays upgraded Watts Water Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $317.00 to $414.00 in a report on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Watts Water Technologies currently has a consensus rating of “Hold” and a consensus price target of $338.20.

Watts Water Technologies Trading Up 0.0%

NYSE:WTS opened at $368.69 on Monday. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Watts Water Technologies, Inc. has a 12 month low of $242.77 and a 12 month high of $394.54. The company has a market cap of $12.31 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 3.24 and a beta of 1.14. The company has a 50 day simple moving average of $320.71 and a two-hundred day simple moving average of $307.59.

Watts Water Technologies (NYSE:WTS) last announced 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. The business had revenue of $677.30 million during the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.37 EPS. Research analysts forecast that Watts Water Technologies, Inc. will post 12.03 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors 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 yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio is 23.06%.

About Watts Water Technologies

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.