Covenant Partners LLC Takes Position in Watts Water Technologies, Inc. (NYSE:WTS)

Covenant Partners LLC bought a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTSFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,269 shares of the technology company’s stock, valued at approximately $264,000.

Other large investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in Watts Water Technologies in the 4th quarter worth approximately $26,000. Allworth Financial LP raised its holdings in Watts Water Technologies by 47.5% in the 4th quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock worth $36,000 after acquiring an additional 56 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Watts Water Technologies in the 4th quarter worth approximately $39,000. Headinvest LLC purchased a new position in Watts Water Technologies in the 3rd quarter worth approximately $41,000. Finally, AdvisorNet Financial Inc raised its holdings in Watts Water Technologies by 2,857.1% in the 4th quarter. AdvisorNet Financial Inc now owns 207 shares of the technology company’s stock worth $43,000 after acquiring an additional 200 shares during the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 2,194 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $214.39, for a total value of $470,371.66. Following the completion of the sale, the insider now directly owns 2,806 shares in the company, valued at approximately $601,578.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Elie Melhem sold 2,051 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $215.51, for a total value of $442,011.01. Following the completion of the sale, the insider now directly owns 13,226 shares in the company, valued at approximately $2,850,335.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Timothy P. Horne sold 2,194 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $214.39, for a total value of $470,371.66. Following the completion of the sale, the insider now owns 2,806 shares of the company’s stock, valued at $601,578.34. The disclosure for this sale can be found here. Insiders sold 5,753 shares of company stock worth $1,236,753 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Watts Water Technologies Stock Performance

Shares of NYSE WTS traded down $4.89 during midday trading on Friday, hitting $187.20. 167,895 shares of the stock traded hands, compared to its average volume of 134,029. The firm has a 50-day moving average of $202.87 and a two-hundred day moving average of $202.81. The firm has a market capitalization of $6.25 billion, a P/E ratio of 23.23, a PEG ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.48. Watts Water Technologies, Inc. has a one year low of $167.87 and a one year high of $219.52.

Watts Water Technologies (NYSE:WTSGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.22. The firm had revenue of $570.90 million for the quarter, compared to analysts’ expectations of $547.20 million. Watts Water Technologies had a return on equity of 19.61% and a net margin of 12.53%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 EPS. On average, equities analysts forecast that Watts Water Technologies, Inc. will post 8.64 EPS for the current fiscal year.

Watts Water Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.92%. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, May 31st. Watts Water Technologies’s dividend payout ratio is presently 21.34%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WTS. Stifel Nicolaus boosted their price objective on shares of Watts Water Technologies from $206.00 to $209.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. Robert W. Baird boosted their price objective on shares of Watts Water Technologies from $212.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $199.50.

Check Out Our Latest Research Report on WTS

About Watts Water Technologies

(Free Report)

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.

See Also

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Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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