First Trust Advisors LP Has $158.32 Million Position in Watts Water Technologies, Inc. $WTS

First Trust Advisors LP grew its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 6.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 545,404 shares of the technology company’s stock after acquiring an additional 34,381 shares during the period. First Trust Advisors LP’s holdings in Watts Water Technologies were worth $158,325,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its stake in 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 acquiring an additional 174 shares during the period. Jones Financial Companies Lllp raised its stake in shares of 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 valued at $222,000 after acquiring an additional 445 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 purchasing an additional 7,537 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Watts Water Technologies in the 2nd quarter valued at about $219,000. Finally, Cetera Investment Advisers raised its position in Watts Water Technologies by 43.2% in the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock worth $426,000 after purchasing an additional 523 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. TD Cowen upped their price target on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. KeyCorp raised their price objective on Watts Water Technologies from $360.00 to $380.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, Weiss Ratings downgraded shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $345.30.

Watts Water Technologies Stock Up 0.4%

Watts Water Technologies stock opened at $342.90 on Friday. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 2.95 and a beta of 1.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. Watts Water Technologies, Inc. has a 52-week low of $249.06 and a 52-week high of $394.54. The firm has a 50 day moving average price of $334.96 and a two-hundred day moving average price of $314.35.

Watts Water Technologies (NYSE:WTS) last announced 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. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $638.13 million. During the same period in the prior year, the business posted $2.37 earnings per share. The company’s revenue was up 21.4% on a year-over-year basis. Equities analysts predict that Watts Water Technologies, Inc. will post 12.23 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 23.06%.

Insider Buying and Selling

In related news, 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 transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the transaction, the insider directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by company insiders.

Watts Water Technologies 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.