Boothbay Fund Management LLC Has $8.16 Million Stock Position in Watts Water Technologies, Inc. $WTS

Boothbay Fund Management LLC lifted its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 30.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 29,561 shares of the technology company’s stock after acquiring an additional 6,976 shares during the period. Boothbay Fund Management LLC’s holdings in Watts Water Technologies were worth $8,159,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wexford Capital LP acquired a new stake in shares of Watts Water Technologies during the third quarter worth $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Watts Water Technologies during the fourth quarter worth $28,000. Advisory Services Network LLC acquired a new position in Watts Water Technologies in the third quarter valued at about $29,000. Clearstead Advisors LLC raised its stake in Watts Water Technologies by 69.4% in 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. Finally, Kemnay Advisory Services Inc. acquired a new position in Watts Water Technologies in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 approximately $2,697,863. This represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Watts Water Technologies Stock Performance

Watts Water Technologies stock opened at $337.05 on Thursday. Watts Water Technologies, Inc. has a 12-month low of $238.58 and a 12-month high of $348.09. 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 business’s 50-day moving average price is $306.22 and its two-hundred day moving average price is $300.22. The stock has a market cap of $11.25 billion, a PE ratio of 30.84, a P/E/G ratio of 3.01 and a beta of 1.19.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) 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 firm had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $638.13 million. During the same quarter in the previous year, the business posted $2.37 earnings per share. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, analysts expect that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.63 dividend. 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 payout ratio is currently 23.06%.

Analyst Ratings Changes

WTS has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target 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. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research note on Friday, May 8th. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. Barclays dropped their price target on Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $329.44.

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.