EULAV Asset Management Has $31.65 Million Stock Position in Watts Water Technologies, Inc. $WTS

Key Points

• EULAV Asset Management increased its stake in Watts Water Technologies by 15.7% in the fourth quarter, bringing its holdings to 114,656 shares worth about $31.65 million.
• Watts Water Technologies reported better-than-expected earnings for the latest quarter, with EPS of $3.04 versus $2.72 expected and revenue of $677.3 million, up 21.4% year over year.
• The company declared a quarterly dividend of $0.63 per share, while analysts currently rate the stock a consensus “Hold” with an average target price of $329.44.

EULAV Asset Management raised its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 15.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 114,656 shares of the technology company's stock after acquiring an additional 15,596 shares during the quarter. EULAV Asset Management owned approximately 0.34% of Watts Water Technologies worth $31,647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTS. Integrated Wealth Concepts LLC increased its position in Watts Water Technologies by 10.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company's stock valued at $385,000 after acquiring an additional 174 shares during the period. Jones Financial Companies Lllp increased its position in Watts Water Technologies by 80.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company's stock valued at $222,000 after acquiring an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Watts Water Technologies by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company's stock valued at $20,163,000 after acquiring an additional 7,537 shares during the period. Sivia Capital Partners LLC acquired a new position in Watts Water Technologies in the 2nd quarter valued at approximately $219,000. Finally, Cetera Investment Advisers increased its position in Watts Water Technologies by 43.2% in the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company's stock valued at $426,000 after acquiring an additional 523 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus set a $379.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. Wall Street Zen lowered shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Weiss Ratings lowered shares of Watts Water Technologies from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $358.00 price objective on shares of Watts Water Technologies in a research report on Friday, May 8th. Finally, Zacks Research lowered Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 27th. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $329.44.

Insider Transactions at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the transaction, the director directly owned 1,814 shares in the company, valued at $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elie Melhem sold 2,257 shares of Watts Water Technologies 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 owned 8,963 shares of the company's stock, valued at $2,697,863. This represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,738 shares of company stock valued at $1,125,138 over the last quarter. Corporate insiders own 1.00% of the company's stock.

Watts Water Technologies Stock Down 0.2%

Shares of NYSE WTS opened at $314.58 on Friday. The firm has a market cap of $10.50 billion, a PE ratio of 28.78, a P/E/G ratio of 2.80 and a beta of 1.19. Watts Water Technologies, Inc. has a 12-month low of $237.72 and a 12-month high of $345.17. The company's fifty day simple moving average is $300.19 and its 200 day simple moving average is $296.92. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.32. The business had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. Watts Water Technologies's revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.37 earnings per share. As a group, sell-side analysts forecast that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, June 1st. Watts Water Technologies's dividend payout ratio (DPR) is currently 23.06%.

Watts Water Technologies 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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