Kolinsky Wealth Management LLC Buys 167 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Kolinsky Wealth Management LLC grew its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 8.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,045 shares of the technology company’s stock after acquiring an additional 167 shares during the quarter. Kolinsky Wealth Management LLC’s holdings in Watts Water Technologies were worth $416,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Watts Water Technologies by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 319,703 shares of the technology company’s stock worth $64,996,000 after purchasing an additional 3,296 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Watts Water Technologies by 13.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 71,608 shares of the technology company’s stock worth $14,558,000 after acquiring an additional 8,728 shares during the period. Van ECK Associates Corp boosted its position in shares of Watts Water Technologies by 35.2% during the 4th quarter. Van ECK Associates Corp now owns 23,507 shares of the technology company’s stock worth $4,779,000 after acquiring an additional 6,125 shares in the last quarter. SG Americas Securities LLC increased its stake in Watts Water Technologies by 264.1% in the fourth quarter. SG Americas Securities LLC now owns 6,080 shares of the technology company’s stock valued at $1,236,000 after acquiring an additional 4,410 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Watts Water Technologies by 9.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,225 shares of the technology company’s stock valued at $16,716,000 after purchasing an additional 7,150 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Monica Barry sold 768 shares of Watts Water Technologies stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $245.40, for a total value of $188,467.20. Following the completion of the sale, the insider now owns 6,236 shares of the company’s stock, valued at approximately $1,530,314.40. This trade represents a 10.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shashank Patel sold 8,000 shares of Watts Water Technologies stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $245.00, for a total transaction of $1,960,000.00. Following the completion of the transaction, the chief financial officer now owns 2,754 shares of the company’s stock, valued at $674,730. This represents a 74.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,165 shares of company stock worth $3,074,168. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on WTS. Northcoast Research downgraded Watts Water Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, May 16th. Stifel Nicolaus raised Watts Water Technologies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $219.00 to $229.00 in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group lifted their price objective on Watts Water Technologies from $197.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $222.00.

Watts Water Technologies Stock Performance

Shares of WTS opened at $243.33 on Wednesday. Watts Water Technologies, Inc. has a one year low of $175.37 and a one year high of $248.17. The company has a market cap of $8.11 billion, a PE ratio of 28.00, a P/E/G ratio of 3.42 and a beta of 1.08. The stock has a 50-day moving average of $209.97 and a 200-day moving average of $210.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, May 7th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.25. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. The company had revenue of $558.00 million for the quarter, compared to analyst estimates of $547.58 million. During the same period in the prior year, the firm earned $2.33 earnings per share. Watts Water Technologies’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, May 30th. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.43. This represents a $2.08 annualized dividend and a yield of 0.85%. Watts Water Technologies’s dividend payout ratio (DPR) is 23.83%.

About Watts Water Technologies

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.