Louisiana State Employees Retirement System Makes New $2.32 Million Investment in Watts Water Technologies, Inc. $WTS

Louisiana State Employees Retirement System bought a new position in Watts Water Technologies, Inc. (NYSE:WTS) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,000 shares of the technology company’s stock, valued at approximately $2,322,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Watts Water Technologies by 352.9% during the first quarter. Blue Trust Inc. now owns 317 shares of the technology company’s stock valued at $92,000 after purchasing an additional 247 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Watts Water Technologies by 42.7% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,180 shares of the technology company’s stock valued at $343,000 after purchasing an additional 353 shares in the last quarter. OP Asset Management Ltd bought a new position in Watts Water Technologies in the 1st quarter worth approximately $13,377,000. Balboa Wealth Partners bought a new position in Watts Water Technologies in the 1st quarter worth approximately $281,000. Finally, Triad Wealth Partners LLC lifted its holdings in Watts Water Technologies by 4.6% during the 1st quarter. Triad Wealth Partners LLC now owns 3,294 shares of the technology company’s stock worth $956,000 after buying an additional 144 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction that occurred 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 transaction, the insider owned 8,963 shares of the company’s stock, valued at $2,697,863. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the sale, the director directly owned 1,814 shares of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

WTS has been the topic of a number of recent research reports. Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $358.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Barclays decreased their price target on Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Stifel Nicolaus set a $379.00 price objective on Watts Water Technologies in a research report on Friday, May 8th. Finally, Royal Bank Of Canada boosted their price objective on Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $329.44.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock opened at $359.36 on Tuesday. The firm has a fifty day moving average of $314.38 and a two-hundred day moving average of $304.79. The stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 3.19 and a beta of 1.19. Watts Water Technologies, Inc. has a 52 week low of $242.77 and a 52 week high of $375.89. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (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 analyst estimates of $638.13 million. During the same period last year, the company earned $2.37 EPS. The firm’s revenue was up 21.4% on a year-over-year basis. As a group, equities research analysts predict that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Announces Dividend

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