E. Ohman J or Asset Management AB Acquires 11,876 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• E. Ohman J or Asset Management AB increased its Watts Water Technologies stake by 18.4%, acquiring 11,876 shares to hold 76,425 shares valued at approximately $29.9 million. Institutional investors collectively own 95.02% of the company.
• Watts Water Technologies exceeded quarterly expectations, reporting adjusted earnings of $3.66 per share versus the $3.34 consensus and revenue of $763.1 million, up 18.6% year over year.
• Analyst sentiment remains mixed, with five Buy and six Hold ratings and a consensus “Hold” rating; the average price target is $367.70, below the reported share price of $383.89. The company also declared a quarterly dividend of $0.63 per share.

E. Ohman J or Asset Management AB grew its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 18.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 76,425 shares of the technology company's stock after acquiring an additional 11,876 shares during the quarter. E. Ohman J or Asset Management AB owned 0.23% of Watts Water Technologies worth $29,917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wexford Capital LP bought a new stake in shares of Watts Water Technologies during the 3rd quarter valued at approximately $26,000. Acumen Wealth Advisors LLC bought a new position in Watts Water Technologies in the 4th quarter valued at approximately $28,000. Clearstead Advisors LLC lifted its stake in Watts Water Technologies by 69.4% in the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company's stock valued at $29,000 after purchasing an additional 43 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Watts Water Technologies in the third quarter valued at approximately $29,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Watts Water Technologies in the fourth quarter valued at approximately $29,000. Institutional investors own 95.02% of the company's stock.

Insider Buying and Selling

In other news, insider Elie Melhem sold 2,257 shares of the company's 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 of the company's stock, valued at approximately $2,697,863. This represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the sale, the director owned 1,814 shares of the company's stock, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by insiders.

Watts Water Technologies Trading Down 2.1%

Shares of WTS stock opened at $383.89 on Tuesday. Watts Water Technologies, Inc. has a 1-year low of $260.00 and a 1-year high of $394.54. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 33.53, a PEG ratio of 3.35 and a beta of 1.15. The stock has a 50-day moving average of $347.73 and a 200-day moving average of $320.12.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping 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 company had revenue of $763.10 million for the quarter, compared to analyst estimates of $725.99 million. During the same period in the previous year, the firm earned $3.09 earnings per share. The firm's quarterly revenue was up 18.6% on a year-over-year basis. On average, equities research analysts forecast that Watts Water Technologies, Inc. will post 12.37 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.63 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies's payout ratio is 22.01%.

Wall Street Analyst Weigh In

WTS has been the subject of several research analyst reports. Barclays upped their price target on shares of Watts Water Technologies from $414.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday. The Goldman Sachs Group reissued a "neutral" rating and set a $374.00 price objective on shares of Watts Water Technologies in a report on Friday. KeyCorp boosted their price objective on Watts Water Technologies from $380.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday. Robert W. Baird set a $405.00 target price on Watts Water Technologies in a report on Friday. Finally, Royal Bank Of Canada increased their target price on Watts Water Technologies from $350.00 to $417.00 and gave the company a "sector perform" rating in a research report on Friday. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $367.70.

Watts Water Technologies Company Profile

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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