Watts Water Technologies, Inc. (NYSE:WTS) Stock Position Lifted by First Trust Advisors LP

First Trust Advisors LP raised its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 6.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 229,546 shares of the technology company's stock after purchasing an additional 14,239 shares during the period. First Trust Advisors LP owned about 0.69% of Watts Water Technologies worth $46,667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WTS. Norges Bank purchased a new position in Watts Water Technologies during the fourth quarter worth $60,887,000. Champlain Investment Partners LLC raised its stake in Watts Water Technologies by 85.1% in the 4th quarter. Champlain Investment Partners LLC now owns 422,026 shares of the technology company's stock valued at $85,798,000 after purchasing an additional 194,033 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Watts Water Technologies in the 4th quarter valued at about $23,044,000. Wealthfront Advisers LLC purchased a new stake in shares of Watts Water Technologies during the fourth quarter worth about $9,773,000. Finally, Boston Partners raised its position in shares of Watts Water Technologies by 7.6% in the fourth quarter. Boston Partners now owns 632,155 shares of the technology company's stock valued at $128,527,000 after buying an additional 44,465 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

Watts Water Technologies Trading Down 1.3 %

WTS stock traded down $2.71 during midday trading on Friday, reaching $206.82. 132,828 shares of the company's stock traded hands, compared to its average volume of 169,252. 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, Inc. has a fifty-two week low of $175.37 and a fifty-two week high of $232.60. The business has a 50-day moving average price of $205.06 and a two-hundred day moving average price of $207.00. The company has a market capitalization of $6.89 billion, a P/E ratio of 23.80, a PEG ratio of 3.42 and a beta of 0.95.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share 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%. Equities research analysts forecast 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 quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, February 28th. Watts Water Technologies's payout ratio is 19.79%.

Analyst Ratings Changes

WTS has been the topic of several recent analyst reports. Stifel Nicolaus upgraded Watts Water Technologies from a "hold" rating to a "buy" rating and increased their target price for the stock from $219.00 to $229.00 in a research report on Wednesday, April 16th. The Goldman Sachs Group lifted their price target on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Watts Water Technologies presently has an average rating of "Moderate Buy" and an average price target of $222.00.

Insider Activity

In related news, insider Elie Melhem sold 4,397 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company's stock.

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.