Groupama Asset Managment Acquires 5,928 Shares of Watts Water Technologies, Inc. $WTS

Groupama Asset Managment increased its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 7.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 82,602 shares of the technology company’s stock after buying an additional 5,928 shares during the period. Groupama Asset Managment’s holdings in Watts Water Technologies were worth $23,979,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Watts Water Technologies by 21.1% in the 1st quarter. Bank of America Corp DE now owns 133,817 shares of the technology company’s stock valued at $38,846,000 after acquiring an additional 23,300 shares in the last quarter. Smith Group Asset Management LLC raised its stake in shares of Watts Water Technologies by 2.0% in the first quarter. Smith Group Asset Management LLC now owns 6,688 shares of the technology company’s stock worth $1,941,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Watts Water Technologies by 52.2% during the first quarter. EverSource Wealth Advisors LLC now owns 948 shares of the technology company’s stock worth $275,000 after purchasing an additional 325 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Watts Water Technologies by 26.5% during the first quarter. California State Teachers Retirement System now owns 32,791 shares of the technology company’s stock worth $9,519,000 after purchasing an additional 6,879 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Watts Water Technologies by 2.1% during the first quarter. Royal Bank of Canada now owns 34,728 shares of the technology company’s stock valued at $10,082,000 after purchasing an additional 730 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WTS. TD Cowen raised their price target on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $358.00 price objective on shares of Watts Water Technologies in a research report on Friday, May 8th. Royal Bank Of Canada lifted their target price on Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Finally, KeyCorp boosted their target price on Watts Water Technologies from $360.00 to $380.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $345.30.

Insiders Place Their Bets

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the sale, the insider directly owned 8,963 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the sale, the director directly owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company’s stock.

Watts Water Technologies Trading Up 0.6%

WTS opened at $346.06 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The company has a market cap of $11.56 billion, a price-to-earnings ratio of 31.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.14. The firm has a 50 day simple moving average of $340.34 and a 200 day simple moving average of $316.66. Watts Water Technologies, Inc. has a fifty-two week low of $251.17 and a fifty-two week high of $394.54.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. During the same period in the prior year, the business posted $2.37 earnings per share. Watts Water Technologies’s revenue was up 21.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.63 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio is 23.06%.

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.