New York State Teachers Retirement System Acquires 1,752 Shares of Watts Water Technologies, Inc. $WTS

New York State Teachers Retirement System raised its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,046 shares of the technology company’s stock after purchasing an additional 1,752 shares during the period. New York State Teachers Retirement System owned 0.11% of Watts Water Technologies worth $10,174,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Integrated Wealth Concepts LLC increased its stake in shares of Watts Water Technologies by 10.2% during the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock valued at $385,000 after buying an additional 174 shares during the period. Jones Financial Companies Lllp lifted its stake in Watts Water Technologies by 80.2% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after acquiring an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Watts Water Technologies by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after acquiring an additional 7,537 shares during the period. Sivia Capital Partners LLC bought a new stake in Watts Water Technologies in the second quarter valued at $219,000. Finally, Cetera Investment Advisers boosted its holdings in Watts Water Technologies by 43.2% in the second quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock valued at $426,000 after acquiring an additional 523 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the transaction, the insider directly owned 8,963 shares in the company, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction that occurred 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 directly owned 1,814 shares in the company, valued at approximately $561,668.82. This represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on WTS shares. Robert W. Baird set a $330.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Royal Bank Of Canada lifted their target price on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Barclays upgraded shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $317.00 to $414.00 in a research report on Tuesday, June 30th. Stifel Nicolaus set a $379.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $358.00 price objective on shares of Watts Water Technologies in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies has an average rating of “Hold” and a consensus price target of $338.20.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock opened at $368.69 on Monday. 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 $12.31 billion, a P/E ratio of 33.73, a P/E/G ratio of 3.24 and a beta of 1.14. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $320.71 and a two-hundred day simple moving average of $307.59.

Watts Water Technologies (NYSE:WTS) last released its earnings results 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 firm had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. During the same period in the prior year, the firm earned $2.37 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. On average, equities analysts forecast that Watts Water Technologies, Inc. will post 12.03 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

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