22,585 Shares in Watts Water Technologies, Inc. $WTS Purchased by Boothbay Fund Management LLC

Boothbay Fund Management LLC purchased a new position in shares of Watts Water Technologies, Inc. (NYSE:WTS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,585 shares of the technology company’s stock, valued at approximately $6,308,000. Boothbay Fund Management LLC owned 0.07% of Watts Water Technologies as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Watts Water Technologies in the 2nd quarter worth approximately $80,386,000. AQR Capital Management LLC boosted its stake in Watts Water Technologies by 148.3% in the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after buying an additional 165,837 shares in the last quarter. UBS Group AG grew its position in Watts Water Technologies by 223.0% in the third quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock valued at $56,484,000 after acquiring an additional 139,637 shares during the period. Geode Capital Management LLC grew its position in Watts Water Technologies by 20.7% in the second quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock valued at $197,728,000 after acquiring an additional 138,034 shares during the period. Finally, Invesco Ltd. raised its stake in Watts Water Technologies by 34.4% during the third quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after acquiring an additional 120,090 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WTS shares. The Goldman Sachs Group lifted their price objective on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. HSBC initiated coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They set a “buy” rating for the company. KeyCorp boosted their price target on shares of Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Stifel Nicolaus upped their price objective on shares of Watts Water Technologies from $320.00 to $389.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Finally, Zacks Research lowered shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $334.11.

Insider Activity at Watts Water Technologies

In other news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the sale, the chief executive officer directly owned 191,202 shares of the company’s stock, valued at $62,582,326.62. This represents a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the completion of the sale, the general counsel directly owned 12,284 shares of the company’s stock, valued at approximately $3,944,146.72. This represents a 29.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,528 shares of company stock valued at $9,614,906 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $297.83 on Monday. The business has a fifty day moving average of $308.25 and a 200-day moving average of $287.93. 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, Inc. has a twelve month low of $177.59 and a twelve month high of $345.17. The firm has a market cap of $9.93 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.70 and a beta of 1.23.

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

Watts Water Technologies Dividend Announcement

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

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.