Magnetar Financial LLC Acquires 2,735 Shares of Watts Water Technologies, Inc. $WTS

Magnetar Financial LLC increased its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 46.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,629 shares of the technology company’s stock after acquiring an additional 2,735 shares during the period. Magnetar Financial LLC’s holdings in Watts Water Technologies were worth $2,410,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. MTM Investment Management LLC acquired a new stake in Watts Water Technologies in the 2nd quarter valued at about $25,000. GAMMA Investing LLC lifted its holdings in Watts Water Technologies by 31.6% during the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after purchasing an additional 62 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Watts Water Technologies by 474.6% during the second quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock worth $83,000 after purchasing an additional 280 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Watts Water Technologies by 138.4% in the third quarter. Farther Finance Advisors LLC now owns 329 shares of the technology company’s stock valued at $92,000 after purchasing an additional 191 shares during the last quarter. Finally, Reyes Financial Architecture Inc. bought a new position in shares of Watts Water Technologies in the third quarter valued at about $98,000. 95.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Virginia A. Halloran sold 605 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total transaction of $167,451.90. Following the sale, the chief accounting officer directly owned 13,412 shares of the company’s stock, valued at approximately $3,712,173.36. This represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total value of $1,613,427.00. Following the completion of the transaction, the general counsel owned 12,284 shares in the company, valued at $3,944,146.72. The trade was a 29.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 29,196 shares of company stock valued at $9,514,741. 1.00% of the stock is owned by insiders.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $302.97 on Friday. The company’s 50 day moving average price is $307.86 and its two-hundred day moving average price is $287.76. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $345.17. The firm has a market cap of $10.10 billion, a PE ratio of 29.79, a PEG ratio of 2.80 and a beta of 1.23. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. The company had revenue of $625.10 million during the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 earnings per share. Equities research analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.52 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, February 27th. Watts Water Technologies’s dividend payout ratio is presently 20.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. TD Cowen restated a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $339.00 price target on shares of Watts Water Technologies in a report on Friday, February 13th. Robert W. Baird set a $361.00 price objective on Watts Water Technologies in a report on Friday, February 13th. Barclays upped their target price on Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Watts Water Technologies has a consensus rating of “Hold” and a consensus price target of $334.11.

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.