Van ECK Associates Corp Acquires 2,085 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Van ECK Associates Corp raised its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 34.2% in the fourth quarter, Holdings Channel reports. The fund owned 8,173 shares of the technology company’s stock after purchasing an additional 2,085 shares during the quarter. Van ECK Associates Corp’s holdings in Watts Water Technologies were worth $1,703,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in Watts Water Technologies in the 4th quarter valued at approximately $26,000. Allworth Financial LP increased its holdings in shares of Watts Water Technologies by 47.5% during the fourth quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock worth $36,000 after buying an additional 56 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in shares of Watts Water Technologies in the 4th quarter valued at $39,000. AdvisorNet Financial Inc boosted its holdings in shares of Watts Water Technologies by 2,857.1% during the 4th quarter. AdvisorNet Financial Inc now owns 207 shares of the technology company’s stock valued at $43,000 after acquiring an additional 200 shares in the last quarter. Finally, Headinvest LLC bought a new stake in Watts Water Technologies during the 3rd quarter worth $41,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Trading Up 1.6 %

NYSE WTS opened at $212.35 on Thursday. The firm has a market capitalization of $7.07 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95. The business’s 50-day moving average price is $205.02 and its two-hundred day moving average price is $199.70. The company has a current ratio of 2.61, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. Watts Water Technologies, Inc. has a 12 month low of $156.85 and a 12 month high of $219.52.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Monday, February 12th. The technology company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.78 by $0.19. Watts Water Technologies had a return on equity of 19.38% and a net margin of 12.75%. The business had revenue of $547.50 million for the quarter, compared to analysts’ expectations of $532.58 million. During the same period in the prior year, the business posted $1.60 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, analysts expect that Watts Water Technologies, Inc. will post 8.53 EPS for the current year.

Insider Buying and Selling

In other Watts Water Technologies news, Director Michael J. Dubose sold 329 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $197.91, for a total transaction of $65,112.39. Following the sale, the director now owns 2,392 shares of the company’s stock, valued at $473,400.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael J. Dubose sold 329 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $197.91, for a total value of $65,112.39. Following the transaction, the director now directly owns 2,392 shares of the company’s stock, valued at approximately $473,400.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Timothy P. Horne sold 764 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $199.00, for a total value of $152,036.00. Following the sale, the insider now directly owns 14,236 shares of the company’s stock, valued at approximately $2,832,964. The disclosure for this sale can be found here. Insiders sold 5,113 shares of company stock valued at $1,023,106 over the last quarter. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

WTS has been the topic of a number of recent research reports. Robert W. Baird lifted their price target on Watts Water Technologies from $191.00 to $208.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Stifel Nicolaus lifted their target price on shares of Watts Water Technologies from $206.00 to $209.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $195.25.

Watts Water Technologies Profile

Watts Water Technologies, Inc, together with its subsidiaries, 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.