Clark Capital Management Group Inc. Increases Stake in Watts Water Technologies, Inc. $WTS

Clark Capital Management Group Inc. increased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 17.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,985 shares of the technology company’s stock after buying an additional 4,140 shares during the period. Clark Capital Management Group Inc. owned about 0.08% of Watts Water Technologies worth $7,816,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors grew its holdings in Watts Water Technologies by 1.4% during the 3rd quarter. World Investment Advisors now owns 2,648 shares of the technology company’s stock worth $740,000 after acquiring an additional 37 shares in the last quarter. Texas Yale Capital Corp. raised its holdings in shares of Watts Water Technologies by 4.4% in the 3rd quarter. Texas Yale Capital Corp. now owns 940 shares of the technology company’s stock valued at $263,000 after purchasing an additional 40 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Watts Water Technologies by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 6,457 shares of the technology company’s stock worth $1,588,000 after purchasing an additional 40 shares during the last quarter. Journey Strategic Wealth LLC lifted its position in shares of Watts Water Technologies by 4.3% during the 3rd quarter. Journey Strategic Wealth LLC now owns 1,001 shares of the technology company’s stock worth $280,000 after purchasing an additional 41 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in shares of Watts Water Technologies by 4.9% during the third quarter. Profund Advisors LLC now owns 1,136 shares of the technology company’s stock worth $317,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. HSBC began coverage on Watts Water Technologies in a research note on Tuesday, January 27th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. Robert W. Baird set a $361.00 price objective on Watts Water Technologies in a report on Friday, February 13th. Stifel Nicolaus raised their target price on Watts Water Technologies from $320.00 to $389.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, Zacks Research cut Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Watts Water Technologies presently has a consensus rating of “Hold” and an average target price of $334.11.

Insider Transactions at Watts Water Technologies

In related news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the completion of the sale, the chief executive officer owned 191,202 shares in the company, valued at $62,582,326.62. This represents a 7.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the transaction, the general counsel directly owned 12,284 shares in the company, valued at $3,944,146.72. The trade was a 29.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,528 shares of company stock worth $9,614,906 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Watts Water Technologies Trading Down 1.8%

NYSE:WTS opened at $297.83 on Monday. The stock’s 50 day moving average price is $308.25 and its 200 day moving average price is $287.93. The company has a market capitalization of $9.93 billion, a PE ratio of 29.28, a P/E/G ratio of 2.70 and a beta of 1.23. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $345.17.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. The company had revenue of $625.10 million during the quarter, compared to analysts’ expectations of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. On average, research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a $0.52 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, February 27th. Watts Water Technologies’s payout ratio is presently 20.45%.

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.