Proficio Capital Partners LLC Invests $3.55 Million in Watts Water Technologies, Inc. (NYSE:WTS)

Proficio Capital Partners LLC acquired a new stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,484 shares of the technology company's stock, valued at approximately $3,554,000. Proficio Capital Partners LLC owned about 0.05% of Watts Water Technologies at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. M&T Bank Corp boosted its holdings in shares of Watts Water Technologies by 12.9% in the fourth quarter. M&T Bank Corp now owns 2,566 shares of the technology company's stock valued at $522,000 after acquiring an additional 294 shares during the period. Atria Investments Inc lifted its stake in shares of Watts Water Technologies by 25.2% in the fourth quarter. Atria Investments Inc now owns 7,979 shares of the technology company's stock valued at $1,622,000 after purchasing an additional 1,605 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $64,996,000 after purchasing an additional 3,296 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Watts Water Technologies by 11.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,550 shares of the technology company's stock valued at $315,000 after acquiring an additional 165 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Watts Water Technologies by 660.3% in the fourth quarter. Jones Financial Companies Lllp now owns 555 shares of the technology company's stock valued at $113,000 after purchasing an additional 482 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

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Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 4,397 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total transaction of $925,700.41. Following the transaction, the insider now owns 10,469 shares of the company's stock, valued at approximately $2,204,038.57. This trade represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Watts Water Technologies from $218.00 to $219.00 and gave the company a "hold" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group increased their price target on Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Watts Water Technologies in a research report on Tuesday, December 17th. They set a "hold" rating and a $240.00 target price on the stock. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Watts Water Technologies has an average rating of "Hold" and a consensus price target of $220.00.

Watts Water Technologies Stock Performance

Shares of WTS traded down $3.08 during trading hours on Friday, reaching $207.23. 1,033,909 shares of the company's stock traded hands, compared to its average volume of 153,168. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 3.42 and a beta of 0.93. The business's fifty day simple moving average is $210.72 and its two-hundred day simple moving average is $207.18. Watts Water Technologies, Inc. has a twelve month low of $175.37 and a twelve month high of $232.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 0.83%. Watts Water Technologies's payout ratio is presently 19.79%.

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.