Cibc World Markets Corp Invests $521,000 in Watts Water Technologies, Inc. (NYSE:WTS)

Cibc World Markets Corp purchased a new position in Watts Water Technologies, Inc. (NYSE:WTS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,563 shares of the technology company’s stock, valued at approximately $521,000.

Several other hedge funds have also recently modified their holdings of the business. Arizona State Retirement System raised its stake in shares of Watts Water Technologies by 0.7% in the fourth quarter. Arizona State Retirement System now owns 7,950 shares of the technology company’s stock worth $1,616,000 after purchasing an additional 56 shares during the last quarter. UMB Bank n.a. increased its position in Watts Water Technologies by 59.8% during the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock valued at $32,000 after acquiring an additional 58 shares during the last quarter. Andina Capital Management LLC increased its position in Watts Water Technologies by 3.5% during the fourth quarter. Andina Capital Management LLC now owns 1,708 shares of the technology company’s stock valued at $347,000 after acquiring an additional 58 shares during the last quarter. Empowered Funds LLC increased its position in Watts Water Technologies by 3.8% during the fourth quarter. Empowered Funds LLC now owns 1,652 shares of the technology company’s stock valued at $336,000 after acquiring an additional 60 shares during the last quarter. Finally, M&T Bank Corp increased its position in Watts Water Technologies by 3.4% during the third quarter. M&T Bank Corp now owns 2,272 shares of the technology company’s stock valued at $471,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on WTS shares. Stifel Nicolaus upped their price objective on Watts Water Technologies from $218.00 to $219.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their price objective on Watts Water Technologies from $197.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Watts Water Technologies in a research report on Tuesday, December 17th. They set a “hold” rating and a $240.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $220.00.

Watts Water Technologies Stock Performance

NYSE:WTS opened at $207.23 on Friday. The stock has a 50-day simple moving average of $210.96 and a two-hundred day simple moving average of $207.35. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $232.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59. The firm has a market capitalization of $6.90 billion, a PE ratio of 23.85, a P/E/G ratio of 3.42 and a beta of 0.93.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. Analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, February 28th. Watts Water Technologies’s dividend payout ratio (DPR) is 19.79%.

Insider Transactions at Watts Water Technologies

In other news, insider Elie Melhem sold 4,397 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total value of $925,700.41. Following the completion of the transaction, the insider now owns 10,469 shares of the company’s stock, valued at $2,204,038.57. This represents a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.