Gabelli Funds LLC Has $44.71 Million Holdings in Watts Water Technologies, Inc. $WTS

Gabelli Funds LLC trimmed its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,025 shares of the technology company’s stock after selling 2,775 shares during the quarter. Gabelli Funds LLC’s holdings in Watts Water Technologies were worth $44,712,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wexford Capital LP acquired a new position in Watts Water Technologies during the 3rd quarter valued at $26,000. Acumen Wealth Advisors LLC acquired a new stake in Watts Water Technologies in the 4th quarter worth $28,000. Advisory Services Network LLC acquired a new stake in Watts Water Technologies in the 3rd quarter worth $29,000. Clearstead Advisors LLC increased its holdings in shares of Watts Water Technologies by 69.4% during the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after purchasing an additional 43 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Watts Water Technologies during the 4th quarter worth about $29,000. Institutional investors own 95.02% of the company’s stock.

Insider Buying and Selling at Watts Water Technologies

In related news, 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 transaction, the director owned 1,814 shares in the company, valued at $561,668.82. This represents a 17.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $679,357.00. Following the sale, the insider directly 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. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Stifel Nicolaus upped their price target on Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a research report on Friday, May 8th. Barclays raised 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. Finally, TD Cowen boosted their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $345.30.

Watts Water Technologies Stock Performance

NYSE WTS opened at $344.62 on Friday. Watts Water Technologies, Inc. has a 1-year low of $250.63 and a 1-year high of $394.54. The company has a 50 day moving average of $335.93 and a 200-day moving average of $314.57. 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 has a market cap of $11.51 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 2.97 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $638.13 million. During the same period in the previous year, the business earned $2.37 EPS. Watts Water Technologies’s revenue was up 21.4% compared to the same quarter last year. On average, equities analysts forecast that Watts Water Technologies, Inc. will post 12.23 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. Stockholders of record on Monday, June 1st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio is presently 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.