Callan Family Office LLC Has $6.75 Million Stake in Watts Water Technologies, Inc. $WTS

Key Points

• Callan Family Office LLC significantly increased its stake in Watts Water Technologies by 1,127.7%, acquiring 27,463 shares valued at $6.75 million in the second quarter.
• Watts Water Technologies recently reported Q2 earnings of $3.09 per share, surpassing estimates, with a revenue of $643.70 million, up 7.8% compared to the previous year.
• The company announced a quarterly dividend of $0.52, representing an annualized yield of 0.8%, and currently has an average analyst rating of "Hold" with a price target of $253.80.

Callan Family Office LLC lifted its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 1,127.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,463 shares of the technology company's stock after purchasing an additional 25,226 shares during the quarter. Callan Family Office LLC owned 0.08% of Watts Water Technologies worth $6,753,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of WTS. Rhumbline Advisers raised its stake in shares of Watts Water Technologies by 10.6% in the first quarter. Rhumbline Advisers now owns 96,974 shares of the technology company's stock valued at $19,775,000 after purchasing an additional 9,308 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Watts Water Technologies by 108.4% in the first quarter. UMB Bank n.a. now owns 323 shares of the technology company's stock valued at $66,000 after purchasing an additional 168 shares in the last quarter. GAMMA Investing LLC grew its position in Watts Water Technologies by 80.5% in the first quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock valued at $57,000 after acquiring an additional 124 shares during the period. Assenagon Asset Management S.A. grew its position in Watts Water Technologies by 124.5% in the first quarter. Assenagon Asset Management S.A. now owns 24,273 shares of the technology company's stock valued at $4,950,000 after acquiring an additional 13,460 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Watts Water Technologies by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 12,854 shares of the technology company's stock valued at $2,621,000 after acquiring an additional 181 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Stifel Nicolaus upped their price target on Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Watts Water Technologies in a research report on Saturday, September 27th. Wall Street Zen cut Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Barclays assumed coverage on Watts Water Technologies in a research report on Friday, September 19th. They issued an "equal weight" rating and a $287.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Watts Water Technologies presently has an average rating of "Hold" and an average price target of $253.80.

Insider Transactions at Watts Water Technologies

In other news, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the transaction, the director directly owned 1,194 shares in the company, valued at approximately $327,693.30. The trade was a 37.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company's stock.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $273.32 on Friday. The business's 50-day simple moving average is $276.57 and its 200 day simple moving average is $246.11. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 29.39, a P/E/G ratio of 3.36 and a beta of 1.13. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $287.89. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.41. The business had revenue of $643.70 million for the quarter, compared to analysts' expectations of $612.15 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. As a group, research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 0.8%. Watts Water Technologies's dividend payout ratio is presently 22.37%.

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.

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