Miracle Mile Advisors LLC Buys New Shares in Watts Water Technologies, Inc. (NYSE:WTS)

Miracle Mile Advisors LLC purchased a new position in shares of Watts Water Technologies, Inc. (NYSE:WTS) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,187 shares of the technology company’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elevated Capital Advisors LLC lifted its position in Watts Water Technologies by 44.6% in the 4th quarter. Elevated Capital Advisors LLC now owns 2,212 shares of the technology company’s stock worth $450,000 after buying an additional 682 shares during the last quarter. Diversified Trust Co raised its stake in shares of Watts Water Technologies by 91.9% during the fourth quarter. Diversified Trust Co now owns 4,240 shares of the technology company’s stock worth $862,000 after acquiring an additional 2,030 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Watts Water Technologies by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 51,058 shares of the technology company’s stock worth $10,397,000 after acquiring an additional 2,004 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Watts Water Technologies by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 267,439 shares of the technology company’s stock worth $55,411,000 after acquiring an additional 12,159 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Watts Water Technologies by 16.7% in the 3rd quarter. Tidal Investments LLC now owns 6,312 shares of the technology company’s stock valued at $1,308,000 after purchasing an additional 904 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on WTS. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Watts Water Technologies in a research note on Tuesday, December 17th. They issued a “hold” rating and a $240.00 price target for the company. Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Monday, November 4th. Finally, Stifel Nicolaus raised their price target on Watts Water Technologies from $202.00 to $218.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $220.50.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $207.54 on Friday. The company has a current ratio of 2.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $209.22 and a 200-day moving average price of $200.57. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 3.14 and a beta of 0.93. Watts Water Technologies, Inc. has a 12 month low of $175.37 and a 12 month high of $222.70.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.83 million. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. Watts Water Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.04 EPS. As a group, equities analysts anticipate that Watts Water Technologies, Inc. will post 8.74 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 0.83%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 20.62%.

Insider Transactions at Watts Water Technologies

In other news, General Counsel Kenneth Robert Lepage sold 3,429 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $194.65, for a total value of $667,454.85. Following the completion of the transaction, the general counsel now owns 14,064 shares in the company, valued at $2,737,557.60. This trade represents a 19.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 20,810 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $212.20, for a total value of $4,415,882.00. Following the completion of the sale, the chief executive officer now directly owns 176,045 shares in the company, valued at approximately $37,356,749. The trade was a 10.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,974 shares of company stock valued at $6,924,594. Company insiders own 1.10% of the company’s stock.

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.