Empowered Funds LLC Has $8.09 Million Position in Watts Water Technologies, Inc. $WTS

Empowered Funds LLC lifted its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 1,808.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,876 shares of the technology company’s stock after purchasing an additional 26,415 shares during the period. Empowered Funds LLC owned 0.08% of Watts Water Technologies worth $8,092,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Wexford Capital LP acquired a new stake in Watts Water Technologies in the 3rd quarter valued at approximately $26,000. Acumen Wealth Advisors LLC bought a new position in Watts Water Technologies in the 4th quarter worth approximately $28,000. Advisory Services Network LLC acquired a new position in shares of Watts Water Technologies during the third quarter worth approximately $29,000. Clearstead Advisors LLC lifted its holdings in shares of Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after buying an additional 43 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Watts Water Technologies in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WTS. Barclays raised shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $317.00 to $414.00 in a research report on Tuesday, June 30th. 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. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Finally, KeyCorp upped their price objective on shares of Watts Water Technologies from $360.00 to $380.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $345.30.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $346.06 on Friday. The firm has a market capitalization of $11.56 billion, a PE ratio of 31.66, a PEG ratio of 2.97 and a beta of 1.14. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Watts Water Technologies, Inc. has a 1-year low of $251.17 and a 1-year high of $394.54. The business’s 50 day moving average is $340.34 and its 200-day moving average is $316.66.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. The business had revenue of $677.30 million during the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.Watts Water Technologies’s revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.37 earnings per share. Sell-side analysts predict that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Elie Melhem sold 2,257 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the transaction, the insider owned 8,963 shares in the company, valued at approximately $2,697,863. This represents a 20.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the transaction, the director directly owned 1,814 shares of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

About Watts Water Technologies

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.