Handelsbanken Fonder AB Boosts Position in Watts Water Technologies, Inc. $WTS

Key Points

• Handelsbanken Fonder AB nearly doubled its stake in Watts Water Technologies in the fourth quarter, buying an additional 29,896 shares and bringing its total holding to 61,624 shares worth about $17.0 million.
• Watts Water Technologies reported strong Q1 results, with EPS of $3.04 and revenue of $677.3 million, both ahead of analyst expectations and up 21.4% from a year ago.
• The company also announced 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.

Handelsbanken Fonder AB increased its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 94.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,624 shares of the technology company's stock after purchasing an additional 29,896 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.18% of Watts Water Technologies worth $17,009,000 at the end of the most recent quarter.

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

Insider Activity

In other news, insider Elie Melhem sold 2,257 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider owned 8,963 shares of the company's stock, valued at approximately $2,697,863. The trade was 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 this hyperlink. Also, Director Michael J. Dubose sold 332 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $301.70, for a total value of $100,164.40. Following the completion of the transaction, the director directly owned 2,212 shares in the company, valued at approximately $667,360.40. The trade was a 13.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 10,840 shares of company stock valued at $3,477,205. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on WTS shares. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Royal Bank Of Canada lifted their price target on Watts Water Technologies from $318.00 to $323.00 and gave the stock a "sector perform" rating in a research report on Friday, May 8th. Zacks Research lowered Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 27th. HSBC started coverage on Watts Water Technologies in a research report on Tuesday, January 27th. They set a "buy" rating on the stock. Finally, Stifel Nicolaus set a $379.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $329.44.

Watts Water Technologies Trading Up 1.2%

NYSE:WTS opened at $299.49 on Thursday. The firm has a market cap of $10.00 billion, a P/E ratio of 27.40, a PEG ratio of 2.63 and a beta of 1.20. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The stock's 50 day simple moving average is $297.70 and its 200-day simple moving average is $294.03. Watts Water Technologies, Inc. has a 12-month low of $235.14 and a 12-month high of $345.17.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 18.92% and a net margin of 14.32%.The company's revenue for the quarter was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.37 earnings per share. Equities analysts anticipate that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. Watts Water Technologies's payout ratio is presently 19.03%.

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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