BlackRock Inc. lifted its stake in Watts Water Technologies Inc (NYSE:WTS) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,546,758 shares of the technology company’s stock after acquiring an additional 385,696 shares during the period. BlackRock Inc. owned 13.31% of Watts Water Technologies worth $356,466,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of Watts Water Technologies in the 1st quarter worth approximately $170,000. CIBC Asset Management Inc acquired a new stake in shares of Watts Water Technologies in the 1st quarter worth approximately $203,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Watts Water Technologies in the 2nd quarter worth approximately $212,000. Evergreen Capital Management LLC acquired a new stake in shares of Watts Water Technologies in the 1st quarter worth approximately $219,000. Finally, Hartford Investment Management Co. acquired a new stake in shares of Watts Water Technologies in the 2nd quarter worth approximately $222,000. 77.61% of the stock is owned by institutional investors.
In related news, insider Elie Melhem sold 3,910 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $82.32, for a total transaction of $321,871.20. Following the completion of the sale, the insider now directly owns 22,991 shares of the company’s stock, valued at $1,892,619.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 6,201 shares of the stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $85.00, for a total transaction of $527,085.00. Following the sale, the general counsel now directly owns 56,959 shares of the company’s stock, valued at $4,841,515. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,266 shares of company stock valued at $2,661,929. Company insiders own 1.10% of the company’s stock.
WTS stock opened at $79.85 on Friday. Watts Water Technologies Inc has a 12 month low of $62.40 and a 12 month high of $93.35. The company has a market cap of $2.73 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.80 and a beta of 1.04. The company has a quick ratio of 1.38, a current ratio of 2.29 and a debt-to-equity ratio of 0.45.
Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, August 1st. The technology company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. Watts Water Technologies had a net margin of 5.83% and a return on equity of 13.88%. The business had revenue of $407.90 million during the quarter, compared to analyst estimates of $403.60 million. During the same period in the prior year, the business earned $0.83 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. equities analysts predict that Watts Water Technologies Inc will post 3.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, August 30th. Watts Water Technologies’s dividend payout ratio is presently 27.81%.
A number of analysts have recently weighed in on the stock. Northcoast Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of Watts Water Technologies in a research note on Friday, August 3rd. Stifel Nicolaus upped their price target on shares of Watts Water Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Boenning Scattergood reaffirmed a “neutral” rating on shares of Watts Water Technologies in a research note on Thursday, August 2nd. Robert W. Baird reaffirmed a “hold” rating and issued a $82.00 price target on shares of Watts Water Technologies in a research note on Friday, July 20th. Finally, Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a research note on Saturday, July 7th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Watts Water Technologies presently has an average rating of “Hold” and an average target price of $85.33.
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. It 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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