Charles Schwab Investment Management Inc. Raises Stock Position in Watts Water Technologies, Inc. (NYSE:WTS)

Charles Schwab Investment Management Inc. raised its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 0.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 276,922 shares of the technology company’s stock after buying an additional 392 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Watts Water Technologies were worth $46,612,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in WTS. Barclays PLC lifted its stake in shares of Watts Water Technologies by 9.5% during the 1st quarter. Barclays PLC now owns 25,267 shares of the technology company’s stock worth $4,253,000 after purchasing an additional 2,184 shares during the period. Russell Investments Group Ltd. raised its position in Watts Water Technologies by 2.9% in the first quarter. Russell Investments Group Ltd. now owns 17,618 shares of the technology company’s stock valued at $2,965,000 after purchasing an additional 503 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Watts Water Technologies by 1.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,336 shares of the technology company’s stock valued at $1,950,000 after purchasing an additional 160 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Watts Water Technologies during the first quarter worth about $46,000. Finally, CWM LLC grew its position in shares of Watts Water Technologies by 458.3% during the first quarter. CWM LLC now owns 268 shares of the technology company’s stock worth $45,000 after buying an additional 220 shares in the last quarter. 75.06% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Trading Down 1.5 %

Shares of NYSE:WTS opened at $181.03 on Friday. Watts Water Technologies, Inc. has a one year low of $120.78 and a one year high of $192.93. The stock has a market capitalization of $6.04 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 3.15 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.53 and a quick ratio of 1.49. The company’s 50-day moving average price is $185.15 and its two-hundred day moving average price is $173.68.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, August 2nd. The technology company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.29. Watts Water Technologies had a return on equity of 19.48% and a net margin of 13.43%. The company had revenue of $532.80 million during the quarter, compared to the consensus estimate of $529.93 million. On average, equities analysts forecast that Watts Water Technologies, Inc. will post 7.72 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.44 dividend on an annualized basis and a yield of 0.80%. Watts Water Technologies’s dividend payout ratio is currently 18.02%.

Insiders Place Their Bets

In other news, CFO Shashank Patel sold 2,336 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $190.14, for a total value of $444,167.04. Following the sale, the chief financial officer now directly owns 18,846 shares of the company’s stock, valued at approximately $3,583,378.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Shashank Patel sold 2,336 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $190.14, for a total transaction of $444,167.04. Following the completion of the sale, the chief financial officer now directly owns 18,846 shares of the company’s stock, valued at $3,583,378.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 9,403 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $188.36, for a total transaction of $1,771,149.08. Following the completion of the sale, the general counsel now owns 17,404 shares in the company, valued at approximately $3,278,217.44. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Watts Water Technologies from $171.00 to $189.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. StockNews.com began coverage on Watts Water Technologies in a research report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Stifel Nicolaus raised their price objective on shares of Watts Water Technologies from $177.00 to $182.00 and gave the company a “hold” rating in a research report on Wednesday, July 19th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $171.20.

About Watts Water Technologies

Watts Water Technologies, Inc 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. The company offers residential and commercial flow control and protection products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, thermostatic mixing valves, and leak detection and protection products for plumbing and hot water applications.