Rhumbline Advisers Buys 3,964 Shares of Watts Water Technologies, Inc. $WTS

Rhumbline Advisers increased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 4.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,938 shares of the technology company’s stock after buying an additional 3,964 shares during the quarter. Rhumbline Advisers owned 0.30% of Watts Water Technologies worth $24,820,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. MTM Investment Management LLC acquired a new position in shares of Watts Water Technologies during the 2nd quarter worth about $25,000. Cullen Frost Bankers Inc. boosted its position in shares of Watts Water Technologies by 156.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after acquiring an additional 80 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Watts Water Technologies in the first quarter worth about $33,000. Summit Securities Group LLC bought a new stake in Watts Water Technologies during the 1st quarter worth $64,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Watts Water Technologies during the first quarter worth $77,000. 95.02% of the stock is currently owned by institutional investors.

Insider Activity at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 6,994 shares of Watts Water Technologies stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $278.65, for a total value of $1,948,878.10. Following the completion of the transaction, the insider owned 23,006 shares in the company, valued at approximately $6,410,621.90. This trade represents a 23.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 15,000 shares of company stock valued at $4,128,936. 1.00% of the stock is currently owned by company insiders.

Watts Water Technologies Trading Down 0.0%

Shares of Watts Water Technologies stock opened at $277.71 on Thursday. The company’s fifty day simple moving average is $275.57 and its 200-day simple moving average is $263.51. The stock has a market capitalization of $9.26 billion, a PE ratio of 29.86, a P/E/G ratio of 3.27 and a beta of 1.17. 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 current ratio of 2.59 and a quick ratio of 1.63.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.21. The business had revenue of $611.70 million for the quarter, compared to the consensus estimate of $576.20 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.03 earnings per share. Watts Water Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, December 1st. Watts Water Technologies’s dividend payout ratio (DPR) is currently 21.47%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday. Barclays upped their price target on shares of Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Wall Street Zen upgraded shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Finally, Stifel Nicolaus lifted their price objective on Watts Water Technologies from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $264.25.

About Watts Water Technologies

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.