New Age Alpha Advisors LLC Increases Position in Watts Water Technologies, Inc. $WTS

New Age Alpha Advisors LLC grew its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 101.3% during the fourth quarter, HoldingsChannel reports. The fund owned 6,078 shares of the technology company’s stock after acquiring an additional 3,058 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Watts Water Technologies were worth $1,678,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WTS. Wexford Capital LP purchased a new position in shares of Watts Water Technologies in the 3rd quarter valued at $26,000. Advisory Services Network LLC purchased a new position in shares of Watts Water Technologies in the 3rd quarter valued at $29,000. Stance Capital LLC purchased a new position in shares of Watts Water Technologies in the 3rd quarter valued at $62,000. Allworth Financial LP increased its holdings in shares of Watts Water Technologies by 29.7% in the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock valued at $71,000 after acquiring an additional 58 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Watts Water Technologies by 144.5% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 291 shares of the technology company’s stock valued at $81,000 after acquiring an additional 172 shares during the period. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Up 1.1%

Watts Water Technologies stock opened at $315.21 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The stock has a market capitalization of $10.52 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 2.77 and a beta of 1.20. Watts Water Technologies, Inc. has a 1-year low of $237.15 and a 1-year high of $345.17. The business has a fifty day moving average price of $298.04 and a 200-day moving average price of $295.22.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. The firm had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.37 EPS. Equities research analysts forecast that Watts Water Technologies, Inc. will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.8%. Watts Water Technologies’s payout ratio is currently 19.03%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WTS shares. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. The Goldman Sachs Group lifted their price target on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a research report on Friday, May 8th. Finally, Stifel Nicolaus set a $379.00 price objective on Watts Water Technologies in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $329.44.

Insider Activity

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the business’s 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 sale, the insider owned 8,963 shares in the company, valued at approximately $2,697,863. The trade was a 20.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 332 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $301.70, for a total value of $100,164.40. Following the sale, the director owned 2,212 shares in the company, valued at approximately $667,360.40. The trade was a 13.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,340 shares of company stock worth $1,001,905. Company insiders own 1.00% of the company’s stock.

Watts Water Technologies Company 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.