Pacer Advisors Inc. Boosts Stock Position in Watts Water Technologies, Inc. $WTS

Pacer Advisors Inc. lifted its position in Watts Water Technologies, Inc. (NYSE:WTS) by 124.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,174 shares of the technology company’s stock after purchasing an additional 4,531 shares during the quarter. Pacer Advisors Inc.’s holdings in Watts Water Technologies were worth $2,256,000 as of its most recent SEC filing.

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

Watts Water Technologies Stock Down 2.3%

WTS opened at $341.86 on Wednesday. Watts Water Technologies, Inc. has a fifty-two week low of $242.38 and a fifty-two week high of $351.57. 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 fifty day moving average of $309.89 and a two-hundred day moving average of $302.24. The stock has a market capitalization of $11.41 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 3.11 and a beta of 1.19.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same quarter in the prior year, the firm posted $2.37 earnings per share. The company’s revenue was up 21.4% compared to the same quarter last year. On average, research analysts expect that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.63 per share. The ex-dividend date was Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio is currently 23.06%.

Analysts Set New Price Targets

WTS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a report on Friday, May 8th. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a research note on Friday, May 8th. Royal Bank Of Canada upped their target price on Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Barclays reduced 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 report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $329.44.

Insider Activity at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was 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 trade represents a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the sale, the insider directly owned 8,963 shares in the company, valued at $2,697,863. This represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by company insiders.

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.