Robeco Institutional Asset Management B.V. grew its position in shares of Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 1,981.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,259 shares of the technology company’s stock after purchasing an additional 13,574 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Watts Water Technologies were worth $5,050,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC raised its position in shares of Watts Water Technologies by 769.2% in the second quarter. NewEdge Advisors LLC now owns 113 shares of the technology company’s stock worth $44,000 after buying an additional 100 shares in the last quarter. Assetmark Inc. boosted its stake in Watts Water Technologies by 211.3% during the first quarter. Assetmark Inc. now owns 165 shares of the technology company’s stock valued at $48,000 after buying an additional 112 shares during the period. Costello Asset Management INC grew its position in Watts Water Technologies by 900.0% during the first quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock worth $87,000 after buying an additional 270 shares in the last quarter. Blue Trust Inc. grew its position in Watts Water Technologies by 352.9% during the first quarter. Blue Trust Inc. now owns 317 shares of the technology company’s stock worth $92,000 after buying an additional 247 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Watts Water Technologies by 11.4% during the second quarter. GAMMA Investing LLC now owns 478 shares of the technology company’s stock worth $187,000 after buying an additional 49 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Watts Water Technologies
In other news, Director Joseph Noonan sold 3,650 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Elie Melhem sold 1,096 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the transaction, the insider owned 7,867 shares in the company, valued at $2,828,579.85. This trade represents a 12.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.
Watts Water Technologies Stock Performance
NYSE WTS opened at $358.86 on Friday. Watts Water Technologies, Inc. has a 52-week low of $260.00 and a 52-week high of $394.54. The company has a fifty day moving average of $359.54 and a 200-day moving average of $340.11. The company has a market capitalization of $11.98 billion, a P/E ratio of 31.34, a P/E/G ratio of 3.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66.
Watts Water Technologies (NYSE:WTS – Get Free Report) last released its earnings results on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%. The business had revenue of $763.20 million for the quarter, compared to analysts’ expectations of $725.99 million. During the same quarter in the prior year, the firm earned $3.09 earnings per share. The firm’s revenue was up 18.6% on a year-over-year basis. As a group, equities research analysts predict that Watts Water Technologies, Inc. will post 12.87 EPS for the current fiscal year.
Watts Water Technologies Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Watts Water Technologies’s dividend payout ratio is presently 22.01%.
Analyst Ratings Changes
Several analysts have weighed in on the company. Robert W. Baird set a $405.00 price target on Watts Water Technologies in a report on Friday, August 7th. Barclays lifted their price target on Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. TD Cowen boosted their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $417.00 price objective on shares of Watts Water Technologies in a research report on Wednesday, October 14th. Finally, Stifel Nicolaus set a $445.00 price objective on shares of Watts Water Technologies in a research report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $371.90.
Read Our Latest Stock Analysis on WTS
Watts Water Technologies Profile
Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.
The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.
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