Watts Water Technologies, Inc. (NYSE:WTS) Stake Boosted by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 12.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,144 shares of the technology company’s stock after buying an additional 800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Watts Water Technologies were worth $1,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment purchased a new stake in shares of Watts Water Technologies in the 4th quarter valued at approximately $10,866,000. Cim Investment Management Inc. boosted its position in shares of Watts Water Technologies by 16.5% in the fourth quarter. Cim Investment Management Inc. now owns 2,525 shares of the technology company’s stock worth $526,000 after buying an additional 358 shares during the period. Covenant Partners LLC purchased a new position in shares of Watts Water Technologies during the fourth quarter valued at $264,000. Goldman Sachs Group Inc. raised its position in Watts Water Technologies by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 279,397 shares of the technology company’s stock valued at $58,210,000 after buying an additional 37,452 shares during the period. Finally, Congress Asset Management Co. MA acquired a new position in Watts Water Technologies during the fourth quarter valued at $125,904,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Trading Down 1.4 %

Watts Water Technologies stock opened at $204.52 on Friday. Watts Water Technologies, Inc. has a one year low of $167.87 and a one year high of $219.52. The company’s fifty day moving average price is $195.58 and its two-hundred day moving average price is $197.72. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49.

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, beating analysts’ consensus estimates of $2.33 by $0.13. The business had revenue of $597.30 million for the quarter, compared to the consensus estimate of $589.55 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $2.34 EPS. On average, analysts forecast 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 announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 0.84%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 21.34%.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Michael J. Dubose sold 315 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the sale, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Elie Melhem sold 1,710 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the completion of the transaction, the insider now directly owns 11,516 shares of the company’s stock, valued at approximately $2,132,302.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 315 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the transaction, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on WTS. Robert W. Baird lowered their target price on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus lowered their price objective on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, StockNews.com upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th.

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.