Watts Water Technologies, Inc. $WTS Shares Purchased by Future Fund LLC

Future Fund LLC raised its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 26.1% during the first quarter, Holdings Channel.com reports. The firm owned 9,438 shares of the technology company’s stock after purchasing an additional 1,953 shares during the quarter. Future Fund LLC’s holdings in Watts Water Technologies were worth $2,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in Watts Water Technologies by 211.3% during the 1st quarter. Assetmark Inc. now owns 165 shares of the technology company’s stock worth $48,000 after purchasing an additional 112 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in shares of Watts Water Technologies by 12.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 13,134 shares of the technology company’s stock valued at $3,813,000 after buying an additional 1,404 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Watts Water Technologies by 20,071.4% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock valued at $40,989,000 after buying an additional 140,500 shares during the period. Nwam LLC purchased a new stake in shares of Watts Water Technologies in the first quarter valued at approximately $206,000. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of Watts Water Technologies by 96,833.3% in the first quarter. Hillsdale Investment Management Inc. now owns 29,080 shares of the technology company’s stock valued at $8,442,000 after buying an additional 29,050 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Stock Performance

WTS opened at $347.11 on Friday. The stock’s 50 day simple moving average is $331.56 and its 200 day simple moving average is $312.33. The stock has a market cap of $11.59 billion, a P/E ratio of 31.76, a P/E/G ratio of 3.10 and a beta of 1.14. Watts Water Technologies, Inc. has a 1-year low of $246.55 and a 1-year high of $394.54. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. The company had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.Watts Water Technologies’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.37 earnings per share. As a group, equities analysts anticipate that Watts Water Technologies, Inc. will post 12.03 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid 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 of this dividend was Monday, June 1st. Watts Water Technologies’s payout ratio is 23.06%.

Insider Activity

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the transaction, the director owned 1,814 shares of the company’s stock, valued at approximately $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 owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. KeyCorp increased their price objective on Watts Water Technologies from $360.00 to $380.00 and gave the stock an “overweight” rating in a research report on Monday. TD Cowen boosted their target price on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Stifel Nicolaus set a $379.00 target price on shares of Watts Water Technologies 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 upped their price target for the stock from $317.00 to $414.00 in a research note on Tuesday, June 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $342.90.

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.