Hillsdale Investment Management Inc. Buys 29,050 Shares of Watts Water Technologies, Inc. $WTS

Hillsdale Investment Management Inc. raised its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 96,833.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,080 shares of the technology company’s stock after purchasing an additional 29,050 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Watts Water Technologies were worth $8,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. State of Michigan Retirement System boosted its position in shares of Watts Water Technologies by 1.5% during the first quarter. State of Michigan Retirement System now owns 6,595 shares of the technology company’s stock valued at $1,914,000 after buying an additional 100 shares during the last quarter. Principal Financial Group Inc. raised its position in Watts Water Technologies by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 83,968 shares of the technology company’s stock valued at $24,375,000 after buying an additional 2,156 shares during the last quarter. Fifth Third Bancorp lifted its stake in Watts Water Technologies by 5,335.4% during the 1st quarter. Fifth Third Bancorp now owns 13,371 shares of the technology company’s stock valued at $3,881,000 after acquiring an additional 13,125 shares in the last quarter. Candriam S.C.A. lifted its stake in Watts Water Technologies by 26.6% during the 1st quarter. Candriam S.C.A. now owns 34,579 shares of the technology company’s stock valued at $10,038,000 after acquiring an additional 7,256 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. boosted its holdings in Watts Water Technologies by 1.7% during the 1st quarter. Beacon Harbor Wealth Advisors Inc. now owns 24,076 shares of the technology company’s stock worth $6,989,000 after acquiring an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insider Buying and Selling at Watts Water Technologies

In related news, insider Elie Melhem sold 2,257 shares of the business’s 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 sale, the insider directly owned 8,963 shares in the company, valued at approximately $2,697,863. The trade was a 20.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the sale, the director directly owned 1,814 shares in the company, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by corporate insiders.

Watts Water Technologies Trading Down 1.4%

NYSE:WTS opened at $347.39 on Tuesday. Watts Water Technologies, Inc. has a 12 month low of $242.77 and a 12 month high of $394.54. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $327.08 and its 200 day moving average is $310.67. The stock has a market capitalization of $11.60 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 3.10 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $677.30 million during the quarter, compared to analyst estimates of $638.13 million. During the same period in the prior year, the company earned $2.37 earnings per share. Watts Water Technologies’s revenue was up 21.4% compared to the same quarter last year. Sell-side analysts expect that Watts Water Technologies, Inc. will post 12.03 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, June 15th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Watts Water Technologies’s dividend payout ratio is currently 23.06%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on WTS shares. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. TD Cowen boosted their price target on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Barclays raised shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $317.00 to $414.00 in a research report on Tuesday, June 30th. Royal Bank Of Canada increased their price objective on shares of 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. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $340.20.

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.