Parallel Advisors LLC Has $60,000 Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Parallel Advisors LLC raised its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 45.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 293 shares of the technology company’s stock after buying an additional 91 shares during the period. Parallel Advisors LLC’s holdings in Watts Water Technologies were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Watts Water Technologies by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 319,703 shares of the technology company’s stock valued at $64,996,000 after purchasing an additional 3,296 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Watts Water Technologies by 13.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 71,608 shares of the technology company’s stock valued at $14,558,000 after purchasing an additional 8,728 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Watts Water Technologies by 35.2% during the fourth quarter. Van ECK Associates Corp now owns 23,507 shares of the technology company’s stock valued at $4,779,000 after purchasing an additional 6,125 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Watts Water Technologies by 9.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,225 shares of the technology company’s stock valued at $16,716,000 after purchasing an additional 7,150 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Watts Water Technologies by 90.3% during the fourth quarter. American Century Companies Inc. now owns 30,111 shares of the technology company’s stock valued at $6,122,000 after purchasing an additional 14,288 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on WTS shares. Stifel Nicolaus raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $219.00 to $229.00 in a research note on Wednesday, April 16th. The Goldman Sachs Group increased their price target on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Finally, Northcoast Research cut shares of Watts Water Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, May 16th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $222.00.

Insider Buying and Selling

In other Watts Water Technologies news, insider Monica Barry sold 768 shares of Watts Water Technologies stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $245.40, for a total value of $188,467.20. Following the sale, the insider now directly owns 6,236 shares in the company, valued at approximately $1,530,314.40. The trade was a 10.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Timothy P. Horne sold 7,000 shares of Watts Water Technologies stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $241.85, for a total transaction of $1,692,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,165 shares of company stock worth $4,767,118 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Watts Water Technologies Price Performance

Shares of WTS stock opened at $244.44 on Monday. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $248.17. The stock has a market cap of $8.16 billion, a PE ratio of 28.13, a PEG ratio of 3.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59. The firm’s 50 day moving average price is $217.91 and its two-hundred day moving average price is $212.96.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, May 7th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.25. The company had revenue of $558.00 million for the quarter, compared to analyst estimates of $547.58 million. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $2.33 earnings per share. As a group, analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.85%. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, May 30th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 23.83%.

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.