Elevated Capital Advisors LLC Reduces Stock Holdings in Watts Water Technologies, Inc. $WTS

Elevated Capital Advisors LLC reduced its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 41.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,209 shares of the technology company’s stock after selling 1,542 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Watts Water Technologies were worth $641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wexford Capital LP bought a new position in shares of Watts Water Technologies in the 3rd quarter worth approximately $26,000. Acumen Wealth Advisors LLC bought a new stake in Watts Water Technologies during the fourth quarter valued at approximately $28,000. Clearstead Advisors LLC grew its position in Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after buying an additional 43 shares during the period. Advisory Services Network LLC purchased a new stake in Watts Water Technologies during the third quarter valued at approximately $29,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Watts Water Technologies during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Barclays raised shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $317.00 to $414.00 in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. TD Cowen lifted their target price 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. Finally, Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $338.20.

Watts Water Technologies Trading Up 1.2%

Watts Water Technologies stock opened at $352.19 on Friday. Watts Water Technologies, Inc. has a 12-month low of $242.77 and a 12-month high of $394.54. The firm has a market capitalization of $11.76 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 3.06 and a beta of 1.14. The firm has a 50 day moving average of $326.15 and a 200 day moving average of $310.04. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results 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. The business had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.37 earnings per share. As a group, research analysts predict 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 disclosed 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 23.06%.

Insiders Place Their Bets

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the sale, the insider owned 8,963 shares in the company, valued at approximately $2,697,863. This represents a 20.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the sale, the director owned 1,814 shares of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by insiders.

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.