Commonwealth Equity Services LLC Purchases 82 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Commonwealth Equity Services LLC grew its position in Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,640 shares of the technology company’s stock after buying an additional 82 shares during the period. Commonwealth Equity Services LLC’s holdings in Watts Water Technologies were worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Zacks Investment Management grew its holdings in Watts Water Technologies by 500.1% during the third quarter. Zacks Investment Management now owns 10,970 shares of the technology company’s stock worth $1,379,000 after purchasing an additional 9,142 shares during the period. Dupont Capital Management Corp boosted its stake in shares of Watts Water Technologies by 2.6% during the 4th quarter. Dupont Capital Management Corp now owns 7,377 shares of the technology company’s stock worth $1,079,000 after acquiring an additional 185 shares during the period. MQS Management LLC acquired a new position in shares of Watts Water Technologies during the 3rd quarter worth approximately $414,000. Oregon Public Employees Retirement Fund raised its stake in Watts Water Technologies by 1.0% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 7,976 shares of the technology company’s stock valued at $1,003,000 after acquiring an additional 76 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Watts Water Technologies by 82.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 17,070 shares of the technology company’s stock valued at $2,144,000 after purchasing an additional 7,704 shares during the last quarter. Institutional investors own 74.85% of the company’s stock.

Watts Water Technologies Stock Down 1.3 %

Shares of NYSE WTS opened at $163.49 on Wednesday. The stock has a market capitalization of $5.46 billion, a P/E ratio of 20.96, a PEG ratio of 2.88 and a beta of 1.00. The stock’s fifty day moving average is $162.96 and its 200 day moving average is $160.46. Watts Water Technologies, Inc. has a 52 week low of $116.31 and a 52 week high of $181.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.55 and a current ratio of 2.56.

Watts Water Technologies (NYSE:WTS – Get Rating) last released its earnings results on Wednesday, May 3rd. The technology company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.63 by $0.29. The firm had revenue of $471.70 million for the quarter, compared to analyst estimates of $473.29 million. Watts Water Technologies had a net margin of 13.16% and a return on equity of 19.77%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $1.63 EPS. Sell-side analysts forecast that Watts Water Technologies, Inc. will post 7.19 earnings per share for the current fiscal year.

Watts Water Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Wednesday, May 31st. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.30. Watts Water Technologies’s dividend payout ratio (DPR) is currently 15.38%.

Wall Street Analyst Weigh In

Several equities analysts have commented on WTS shares. The Goldman Sachs Group upped their price objective on shares of Watts Water Technologies from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, February 10th. StockNews.com initiated coverage on shares of Watts Water Technologies in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Robert W. Baird raised their price objective on shares of Watts Water Technologies from $144.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, February 10th. Deutsche Bank Aktiengesellschaft upped their target price on Watts Water Technologies from $174.00 to $175.00 in a research report on Monday, May 8th. Finally, TD Cowen lifted their price target on Watts Water Technologies from $120.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, April 5th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $148.57.

Insider Activity

In other Watts Water Technologies news, CEO Robert J. Pagano, Jr. sold 9,254 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $169.76, for a total transaction of $1,570,959.04. Following the completion of the transaction, the chief executive officer now owns 175,970 shares of the company’s stock, valued at $29,872,667.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Elie Melhem sold 1,735 shares of the company’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $168.06, for a total transaction of $291,584.10. Following the completion of the transaction, the insider now directly owns 17,890 shares in the company, valued at $3,006,593.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert J. Pagano, Jr. sold 9,254 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $169.76, for a total value of $1,570,959.04. Following the sale, the chief executive officer now directly owns 175,970 shares in the company, valued at approximately $29,872,667.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,989 shares of company stock worth $5,508,923. Insiders own 1.10% of the company’s stock.

Watts Water Technologies Company Profile

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Watts Water Technologies, Inc engages in the manufacture and provision of products for water conservation, safety, and flow control. It operates through the following geographic segments: Americas, Europe, and Asia-Pacific, Middle East and Africa. Its services include plumbing and flow control solutions, water quality and conditioning, water reuse and drainage, heating, ventilation, and air conditioning, and municipal waterworks.