Watts Water Technologies, Inc. $WTS Shares Bought by Burney Co.

Burney Co. raised its position in Watts Water Technologies, Inc. (NYSE:WTS) by 96.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,700 shares of the technology company’s stock after buying an additional 33,179 shares during the quarter. Burney Co. owned approximately 0.20% of Watts Water Technologies worth $18,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. MTM Investment Management LLC acquired a new position in shares of Watts Water Technologies in the 2nd quarter valued at $25,000. Cullen Frost Bankers Inc. increased its stake in Watts Water Technologies by 156.9% in the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock valued at $32,000 after purchasing an additional 80 shares during the period. GAMMA Investing LLC raised its holdings in shares of Watts Water Technologies by 31.6% in the third quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock valued at $72,000 after buying an additional 62 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Watts Water Technologies by 138.4% in the third quarter. Farther Finance Advisors LLC now owns 329 shares of the technology company’s stock valued at $92,000 after buying an additional 191 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Watts Water Technologies by 474.6% during the second quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock worth $83,000 after buying an additional 280 shares during the period. 95.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 6,994 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $278.65, for a total transaction of $1,948,878.10. Following the completion of the sale, the insider directly owned 23,006 shares in the company, valued at approximately $6,410,621.90. This trade represents a 23.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Virginia A. Halloran sold 605 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the completion of the sale, the chief accounting officer owned 13,412 shares in the company, valued at approximately $3,712,173.36. This represents a 4.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,605 shares of company stock valued at $4,296,387. 1.00% of the stock is currently owned by corporate insiders.

Watts Water Technologies Trading Up 0.3%

NYSE:WTS opened at $284.55 on Friday. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $287.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.84 and a current ratio of 2.83. The stock has a fifty day moving average price of $275.54 and a two-hundred day moving average price of $268.86. The stock has a market capitalization of $9.49 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 3.01 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.29 by $0.21. The company had revenue of $611.70 million for the quarter, compared to analyst estimates of $576.20 million. Watts Water Technologies had a net margin of 13.79% and a return on equity of 18.31%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.03 EPS. As a group, sell-side analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.52 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio (DPR) is 21.47%.

Wall Street Analyst Weigh In

WTS has been the subject of several analyst reports. Barclays upped their price objective on Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “buy (b+)” rating on shares of Watts Water Technologies in a report on Monday, December 15th. Jefferies Financial Group initiated coverage on Watts Water Technologies in a report on Friday, December 12th. They set a “hold” rating and a $300.00 price target for the company. Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Zacks Research cut shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $279.25.

Watts Water Technologies 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.