Venturi Wealth Management LLC Purchases New Stake in Watts Water Technologies, Inc. $WTS

Venturi Wealth Management LLC acquired a new position in shares of Watts Water Technologies, Inc. (NYSE:WTS) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,062 shares of the technology company’s stock, valued at approximately $598,000.

Several other large investors also recently made changes to their positions in the business. Louisiana State Employees Retirement System acquired a new position in shares of Watts Water Technologies during the 1st quarter valued at $2,322,000. Blue Trust Inc. grew its stake in shares of Watts Water Technologies by 352.9% in the first quarter. Blue Trust Inc. now owns 317 shares of the technology company’s stock valued at $92,000 after buying an additional 247 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Watts Water Technologies by 42.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,180 shares of the technology company’s stock worth $343,000 after acquiring an additional 353 shares in the last quarter. OP Asset Management Ltd purchased a new position in Watts Water Technologies in the 1st quarter worth approximately $13,377,000. Finally, Balboa Wealth Partners acquired a new stake in Watts Water Technologies in the first quarter valued at approximately $281,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Insider Buying and Selling at Watts Water Technologies

In other news, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the transaction, the director owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. This represents a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on WTS shares. Weiss Ratings downgraded shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Barclays cut their price objective on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $358.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a report on Friday, May 8th. Finally, Royal Bank Of Canada increased their target price on Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $329.44.

Watts Water Technologies Stock Down 0.1%

Shares of NYSE:WTS opened at $358.99 on Monday. The company’s fifty day moving average is $313.19 and its two-hundred day moving average is $304.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. Watts Water Technologies, Inc. has a 1-year low of $242.77 and a 1-year high of $375.89. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.19.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share 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 the consensus estimate of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.37 EPS. Equities analysts anticipate that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 23.06%.

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.