Algert Global LLC Acquires 52,125 Shares of Watts Water Technologies, Inc. $WTS

Algert Global LLC increased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 127.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,898 shares of the technology company’s stock after buying an additional 52,125 shares during the quarter. Watts Water Technologies accounts for 0.4% of Algert Global LLC’s portfolio, making the stock its 15th biggest holding. Algert Global LLC owned approximately 0.28% of Watts Water Technologies worth $25,945,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WTS. World Investment Advisors grew its holdings in shares of Watts Water Technologies by 1.4% in the 3rd quarter. World Investment Advisors now owns 2,648 shares of the technology company’s stock worth $740,000 after purchasing an additional 37 shares during the last quarter. Texas Yale Capital Corp. boosted its position in Watts Water Technologies by 4.4% in the third quarter. Texas Yale Capital Corp. now owns 940 shares of the technology company’s stock valued at $263,000 after buying an additional 40 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Watts Water Technologies by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 6,457 shares of the technology company’s stock worth $1,588,000 after buying an additional 40 shares during the last quarter. Journey Strategic Wealth LLC increased its holdings in shares of Watts Water Technologies by 4.3% during the third quarter. Journey Strategic Wealth LLC now owns 1,001 shares of the technology company’s stock worth $280,000 after buying an additional 41 shares in the last quarter. Finally, Profund Advisors LLC increased its holdings in shares of Watts Water Technologies by 4.9% during the third quarter. Profund Advisors LLC now owns 1,136 shares of the technology company’s stock worth $317,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WTS. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $339.00 target price on shares of Watts Water Technologies in a research note on Friday, February 13th. Robert W. Baird set a $361.00 price target on Watts Water Technologies in a research note on Friday, February 13th. Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a research note on Thursday, January 8th. The Goldman Sachs Group raised their price objective on Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Finally, HSBC initiated coverage on shares of Watts Water Technologies in a report on Tuesday, January 27th. They set a “buy” rating on the stock. Four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Watts Water Technologies presently has a consensus rating of “Hold” and an average price target of $334.11.

Insider Transactions at Watts Water Technologies

In related news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the completion of the transaction, the chief executive officer directly owned 191,202 shares of the company’s stock, valued at $62,582,326.62. This trade represents a 7.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Timothy P. Horne sold 7,500 shares of Watts Water Technologies stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $330.04, for a total value of $2,475,300.00. Following the completion of the transaction, the insider directly owned 7,500 shares in the company, valued at approximately $2,475,300. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,528 shares of company stock valued at $9,614,906. 1.00% of the stock is currently owned by corporate insiders.

Watts Water Technologies Stock Performance

Shares of WTS stock opened at $297.83 on Friday. Watts Water Technologies, Inc. has a 52 week low of $177.59 and a 52 week high of $345.17. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 2.70 and a beta of 1.23. The company has a 50-day simple moving average of $308.25 and a 200 day simple moving average of $287.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.36 by $0.26. The business had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. Watts Water Technologies’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 earnings per share. On average, sell-side analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 2.1%. Watts Water Technologies’s dividend payout ratio is 20.45%.

About Watts Water Technologies

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.