E. Ohman J or Asset Management AB raised its holdings in Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 18.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,425 shares of the technology company’s stock after buying an additional 11,876 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Watts Water Technologies were worth $29,917,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of WTS. Wexford Capital LP acquired a new position in shares of Watts Water Technologies during the 3rd quarter valued at $26,000. Acumen Wealth Advisors LLC bought a new position in Watts Water Technologies during the fourth quarter worth $28,000. Advisory Services Network LLC acquired a new stake in Watts Water Technologies in the third quarter worth $29,000. Clearstead Advisors LLC increased its stake in Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in Watts Water Technologies in the fourth quarter valued at $29,000. 95.02% of the stock is currently owned by institutional investors.
Watts Water Technologies Stock Performance
Shares of Watts Water Technologies stock opened at $383.89 on Tuesday. Watts Water Technologies, Inc. has a 52 week low of $260.00 and a 52 week high of $394.54. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $347.73 and a 200-day moving average price of $320.12. The company has a market cap of $12.82 billion, a PE ratio of 33.53, a price-to-earnings-growth ratio of 3.35 and a beta of 1.15.
Watts Water Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio is presently 22.01%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on WTS. Barclays increased their price objective on shares of Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $374.00 target price on shares of Watts Water Technologies in a research report on Friday. KeyCorp upped their price target on Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen increased their price target on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a research note on Friday. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $367.70.
Insider Activity
In related news, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the transaction, the insider directly owned 8,963 shares of the company’s stock, valued at $2,697,863. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the sale, the director directly owned 1,814 shares of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.
The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.
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