Renaissance Technologies LLC Buys 87,900 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Renaissance Technologies LLC increased its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 171.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,100 shares of the technology company's stock after purchasing an additional 87,900 shares during the period. Renaissance Technologies LLC owned approximately 0.42% of Watts Water Technologies worth $25,507,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of WTS. Congress Asset Management Co. MA bought a new position in Watts Water Technologies in the fourth quarter valued at approximately $125,904,000. Norges Bank acquired a new stake in shares of Watts Water Technologies during the fourth quarter worth $61,513,000. Congress Wealth Management LLC DE bought a new stake in Watts Water Technologies in the 4th quarter valued at $13,284,000. Natixis boosted its stake in Watts Water Technologies by 20,322.5% in the 1st quarter. Natixis now owns 61,676 shares of the technology company's stock worth $13,109,000 after purchasing an additional 61,374 shares during the period. Finally, Norden Group LLC boosted its stake in Watts Water Technologies by 1,826.3% in the 1st quarter. Norden Group LLC now owns 59,310 shares of the technology company's stock worth $12,606,000 after purchasing an additional 56,231 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Down 0.9 %

NYSE:WTS traded down $1.76 on Friday, hitting $205.04. 502,588 shares of the company's stock were exchanged, compared to its average volume of 150,091. The company has a market cap of $6.84 billion, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89. The firm has a 50-day moving average price of $193.74 and a 200-day moving average price of $197.70. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49. Watts Water Technologies, Inc. has a 52 week low of $167.87 and a 52 week high of $219.52.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.33 by $0.13. The firm had revenue of $597.30 million during the quarter, compared to analysts' expectations of $589.55 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The business's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 earnings per share. As a group, analysts expect that Watts Water Technologies, Inc. will post 8.71 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.43 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 0.84%. Watts Water Technologies's dividend payout ratio is presently 21.34%.

Insider Buying and Selling

In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the sale, the insider now directly owns 11,516 shares of the company's stock, valued at $2,132,302.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Michael J. Dubose sold 315 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the sale, the director now directly owns 2,755 shares in the company, valued at approximately $512,237.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elie Melhem sold 1,710 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the transaction, the insider now directly owns 11,516 shares in the company, valued at approximately $2,132,302.56. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports 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. StockNews.com raised Watts Water Technologies from a "hold" rating to a "buy" rating in a research report on Friday, August 16th. Finally, Stifel Nicolaus reduced their price target 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.

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.