Aigen Investment Management LP Takes $733,000 Position in Watts Water Technologies, Inc. $WTS

Aigen Investment Management LP purchased a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,656 shares of the technology company’s stock, valued at approximately $733,000.

Other hedge funds also recently made changes to their positions in the company. Wexford Capital LP bought a new stake in shares of Watts Water Technologies during the third quarter valued at approximately $26,000. Acumen Wealth Advisors LLC bought a new stake in Watts Water Technologies during the fourth quarter worth approximately $28,000. Clearstead Advisors LLC raised its holdings in Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC bought a new stake in Watts Water Technologies during the third quarter worth approximately $29,000. Finally, Smartleaf Asset Management LLC raised its holdings in Watts Water Technologies by 131.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the technology company’s stock worth $53,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $333.16 on Monday. The company’s fifty day moving average is $303.34 and its two-hundred day moving average is $298.98. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. Watts Water Technologies, Inc. has a 12-month low of $237.72 and a 12-month high of $345.17. The company has a market cap of $11.12 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 2.96 and a beta of 1.19.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company 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. The company’s revenue was up 21.4% on a year-over-year basis. Equities analysts expect that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, June 1st. Watts Water Technologies’s payout ratio is 23.06%.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the business’s 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 sale, the insider directly owned 8,963 shares of the company’s stock, valued at $2,697,863. The trade was a 20.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction 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 sale, the director directly owned 1,814 shares in the company, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,406 shares of company stock worth $1,024,973. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on WTS. Wall Street Zen cut Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $358.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. Stifel Nicolaus set a $379.00 target price on Watts Water Technologies in a report on Friday, May 8th. Barclays dropped their target price 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. Finally, Zacks Research cut Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $329.44.

Watts Water Technologies Company 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.