Sei Investments Co. Has $17.61 Million Stock Position in Watts Water Technologies, Inc. $WTS

Sei Investments Co. boosted its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,651 shares of the technology company’s stock after acquiring an additional 7,734 shares during the period. Sei Investments Co. owned 0.18% of Watts Water Technologies worth $17,605,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wexford Capital LP acquired a new position in shares of Watts Water Technologies in the 3rd quarter worth approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Watts Water Technologies during the fourth quarter worth $28,000. Clearstead Advisors LLC increased its position 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 period. Advisory Services Network LLC bought a new position in Watts Water Technologies during the third quarter worth $29,000. Finally, Kemnay Advisory Services Inc. bought a new position in Watts Water Technologies during the fourth quarter worth $29,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on WTS shares. Barclays raised shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $317.00 to $414.00 in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $358.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. TD Cowen upped their target price on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings cut Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Robert W. Baird set a $330.00 target price on Watts Water Technologies in a report on Friday, May 8th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $345.30.

Insider Activity

In related news, Director Michael J. Dubose sold 398 shares of the stock in a transaction 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 completion of the sale, the director directly owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. This represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Elie Melhem sold 2,257 shares of the company’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 completion of the sale, the insider directly owned 8,963 shares of the company’s stock, valued at $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Watts Water Technologies Trading Down 3.0%

NYSE WTS opened at $336.16 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. Watts Water Technologies, Inc. has a 52 week low of $251.17 and a 52 week high of $394.54. The business has a 50 day moving average price of $338.60 and a 200-day moving average price of $316.05. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 2.99 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. The company had revenue of $677.30 million for 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%.Watts Water Technologies’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business earned $2.37 EPS. As a group, equities analysts expect that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is currently 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.