EULAV Asset Management Buys 15,596 Shares of Watts Water Technologies, Inc. $WTS

EULAV Asset Management increased its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,656 shares of the technology company’s stock after buying an additional 15,596 shares during the quarter. EULAV Asset Management’s holdings in Watts Water Technologies were worth $31,647,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Wexford Capital LP bought a new position in shares of Watts Water Technologies during the third quarter valued at about $26,000. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies during the third quarter valued at about $29,000. Clearstead Advisors LLC lifted its position in shares of Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Stance Capital LLC bought a new position in shares of Watts Water Technologies during the third quarter valued at about $62,000. Finally, Allworth Financial LP lifted its position in shares of Watts Water Technologies by 29.7% during the third quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock valued at $71,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 95.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on WTS. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. The Goldman Sachs Group raised their price target on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Royal Bank Of Canada raised their price target on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Zacks Research lowered shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. Finally, Wall Street Zen lowered shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $329.44.

Watts Water Technologies Stock Performance

NYSE WTS opened at $314.58 on Friday. Watts Water Technologies, Inc. has a 52-week low of $237.72 and a 52-week high of $345.17. The company has a 50-day simple moving average of $300.19 and a 200 day simple moving average of $296.92. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The company has a market capitalization of $10.50 billion, a PE ratio of 28.78, a price-to-earnings-growth ratio of 2.80 and a beta of 1.19.

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, topping the consensus estimate of $2.72 by $0.32. The firm had revenue of $677.30 million during the quarter, compared to the consensus estimate 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 revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the company earned $2.37 earnings per share. On average, research analysts predict that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.63 dividend. The ex-dividend date is Monday, June 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.8%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 23.06%.

Insider Activity

In other news, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the transaction, the insider owned 8,963 shares in the company, valued at $2,697,863. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the transaction, the director owned 1,814 shares of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,738 shares of company stock valued at $1,125,138 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

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.