Watts Water Technologies Inc (NYSE:WTS) Sees Large Increase in Short Interest

Watts Water Technologies Inc (NYSE:WTS) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 355,300 shares, an increase of 10.1% from the September 30th total of 322,700 shares. Based on an average daily trading volume, of 152,200 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.3% of the company’s stock are short sold.

In related news, insider Elie Melhem sold 9,643 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $94.06, for a total value of $907,020.58. Following the completion of the sale, the insider now owns 32,202 shares of the company’s stock, valued at approximately $3,028,920.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.75% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in Watts Water Technologies by 1.2% during the second quarter. State of Alaska Department of Revenue now owns 9,427 shares of the technology company’s stock worth $878,000 after purchasing an additional 116 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in Watts Water Technologies by 1.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,850 shares of the technology company’s stock worth $918,000 after purchasing an additional 120 shares during the period. Mason Street Advisors LLC boosted its position in Watts Water Technologies by 1.5% during the third quarter. Mason Street Advisors LLC now owns 9,386 shares of the technology company’s stock worth $880,000 after purchasing an additional 142 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Watts Water Technologies by 1.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,954 shares of the technology company’s stock worth $1,021,000 after purchasing an additional 200 shares during the period. Finally, Quantamental Technologies LLC boosted its position in Watts Water Technologies by 20.0% during the second quarter. Quantamental Technologies LLC now owns 1,800 shares of the technology company’s stock worth $168,000 after purchasing an additional 300 shares during the period. 75.76% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE WTS traded up $0.43 during trading hours on Friday, hitting $95.33. The stock had a trading volume of 154,615 shares, compared to its average volume of 162,451. The company has a market capitalization of $3.22 billion, a P/E ratio of 24.02, a P/E/G ratio of 2.93 and a beta of 1.16. The firm’s 50-day moving average price is $92.44 and its two-hundred day moving average price is $90.53. Watts Water Technologies has a 52 week low of $61.17 and a 52 week high of $100.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.10 and a current ratio of 1.80.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.01. The business had revenue of $394.70 million during the quarter, compared to analysts’ expectations of $397.44 million. Watts Water Technologies had a return on equity of 14.70% and a net margin of 8.11%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, analysts expect that Watts Water Technologies will post 4.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.92 dividend on an annualized basis and a yield of 0.97%. Watts Water Technologies’s payout ratio is currently 24.60%.

Several brokerages recently commented on WTS. Stifel Nicolaus boosted their price target on Watts Water Technologies from $102.00 to $107.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. ValuEngine cut Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $95.09.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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