North Growth Management Ltd. Boosts Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

North Growth Management Ltd. lifted its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 13.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,000 shares of the technology company's stock after purchasing an additional 5,000 shares during the quarter. North Growth Management Ltd. owned 0.12% of Watts Water Technologies worth $8,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in WTS. HWG Holdings LP acquired a new position in shares of Watts Water Technologies in the 2nd quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Watts Water Technologies in the 3rd quarter valued at about $30,000. Gradient Investments LLC acquired a new stake in Watts Water Technologies during the second quarter worth approximately $31,000. Blue Trust Inc. increased its holdings in Watts Water Technologies by 520.5% in the second quarter. Blue Trust Inc. now owns 273 shares of the technology company's stock worth $50,000 after purchasing an additional 229 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Watts Water Technologies during the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 95.02% of the company's stock.

Watts Water Technologies Stock Performance

Shares of WTS stock traded down $4.78 on Tuesday, reaching $207.20. The stock had a trading volume of 21,212 shares, compared to its average volume of 145,083. The stock has a market cap of $6.91 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 2.98 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.55 and a current ratio of 2.55. The company has a 50 day simple moving average of $201.40 and a 200 day simple moving average of $197.27. Watts Water Technologies, Inc. has a 1 year low of $175.37 and a 1 year high of $219.52.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. The firm had revenue of $543.60 million during the quarter, compared to analysts' expectations of $541.83 million. During the same period in the prior year, the company posted $2.04 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts expect that Watts Water Technologies, Inc. will post 8.74 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 0.83%. Watts Water Technologies's payout ratio is currently 20.62%.

Insider Activity

In other news, General Counsel Kenneth Robert Lepage sold 2,607 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $212.72, for a total value of $554,561.04. Following the sale, the general counsel now directly owns 11,457 shares in the company, valued at approximately $2,437,133.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Michael J. Dubose sold 315 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the transaction, the director now directly owns 2,755 shares in the company, valued at approximately $512,237.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kenneth Robert Lepage sold 2,607 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $212.72, for a total value of $554,561.04. Following the sale, the general counsel now directly owns 11,457 shares in the company, valued at $2,437,133.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,999 shares of company stock valued at $7,299,786. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WTS shares. Robert W. Baird dropped their price target on Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus decreased their target price on Watts Water Technologies from $217.00 to $202.00 and set a "hold" rating for the company in a research report on Friday, August 9th. StockNews.com upgraded shares of Watts Water Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. Finally, Northcoast Research upgraded shares of Watts Water Technologies from a "neutral" rating to a "buy" rating and set a $225.00 price objective for the company in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $200.25.

Watts Water Technologies Company 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.