Watts Water Technologies Inc (NYSE:WTS) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 735,400 shares, a growth of 7.3% from the May 30th total of 685,600 shares. Currently, 2.7% of the shares of the company are sold short. Based on an average daily volume of 144,600 shares, the short-interest ratio is currently 5.1 days.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its holdings in Watts Water Technologies by 35.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 26,295 shares of the technology company’s stock valued at $1,697,000 after buying an additional 6,826 shares in the last quarter. Rhumbline Advisers increased its holdings in Watts Water Technologies by 1.2% in the first quarter. Rhumbline Advisers now owns 85,288 shares of the technology company’s stock valued at $6,893,000 after buying an additional 1,015 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Watts Water Technologies by 4.3% during the fourth quarter. Principal Financial Group Inc. now owns 270,393 shares of the technology company’s stock worth $17,449,000 after purchasing an additional 11,154 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Watts Water Technologies by 5.5% during the first quarter. Great West Life Assurance Co. Can now owns 38,155 shares of the technology company’s stock worth $3,083,000 after purchasing an additional 1,994 shares in the last quarter. Finally, ETF Managers Group LLC increased its stake in shares of Watts Water Technologies by 10.4% during the first quarter. ETF Managers Group LLC now owns 1,852 shares of the technology company’s stock worth $150,000 after purchasing an additional 175 shares in the last quarter. 75.80% of the stock is owned by institutional investors.

WTS opened at $92.57 on Wednesday. Watts Water Technologies has a fifty-two week low of $61.17 and a fifty-two week high of $94.81. The company has a quick ratio of 1.35, a current ratio of 2.27 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $89.11. The stock has a market capitalization of $3.13 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 2.85 and a beta of 1.22.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Watts Water Technologies had a net margin of 8.10% and a return on equity of 14.93%. The company had revenue of $388.70 million during the quarter, compared to analysts’ expectations of $388.77 million. During the same quarter in the previous year, the company earned $0.82 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict that Watts Water Technologies will post 4.05 earnings per share for the current year.

A number of research analysts recently issued reports on WTS shares. Janney Montgomery Scott upgraded shares of BIO-TECHNE from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $270.00 in a research report on Tuesday, July 2nd. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Stifel Nicolaus upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and boosted their target price for the company from $57.00 to $100.00 in a research report on Tuesday, April 16th. Finally, ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $90.54.

Watts Water Technologies Company Profile

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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