Van ECK Associates Corp Purchases 1,626 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Van ECK Associates Corp grew its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 15.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 12,415 shares of the technology company’s stock after buying an additional 1,626 shares during the period. Van ECK Associates Corp’s holdings in Watts Water Technologies were worth $2,277,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Rise Advisors LLC bought a new stake in shares of Watts Water Technologies during the first quarter worth $26,000. Gradient Investments LLC purchased a new stake in Watts Water Technologies in the 2nd quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. grew its stake in Watts Water Technologies by 502.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the technology company’s stock worth $47,000 after acquiring an additional 186 shares in the last quarter. Blue Trust Inc. increased its position in shares of Watts Water Technologies by 520.5% during the second quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock worth $50,000 after acquiring an additional 229 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of Watts Water Technologies during the first quarter valued at approximately $53,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related 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 completion of the sale, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Elie Melhem sold 1,710 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael J. Dubose sold 315 shares of the company’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 transaction, the director now directly owns 2,755 shares in the company, valued at $512,237.15. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $189.18 on Friday. The firm has a 50 day moving average of $190.89 and a 200 day moving average of $197.93. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 2.76 and a beta of 0.89. 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) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The firm had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $589.55 million. During the same period in the prior year, the business posted $2.34 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts predict that Watts Water Technologies, Inc. will post 8.71 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, August 30th. Watts Water Technologies’s payout ratio is 21.34%.

Wall Street Analyst Weigh In

WTS has been the topic of several research analyst reports. Stifel Nicolaus reduced their price objective on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a report on Friday, August 9th. StockNews.com upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Robert W. Baird decreased their price objective on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a report on Friday, August 9th.

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.