Klingman & Associates LLC Makes New Investment in Watts Water Technologies, Inc. $WTS

Key Points

• Klingman & Associates LLC recently acquired 1,073 shares of Watts Water Technologies, valued at approximately $264,000, as per their 13F filing with the SEC.
• Watts Water Technologies reported a 7.8% increase in revenue year-over-year for the last quarter, achieving $643.70 million, and earnings per share surpassed estimates.
• The company declared a quarterly dividend of $0.52 per share, translating to an annual yield of 0.7%, with a payout ratio of 22.37%.

Klingman & Associates LLC purchased a new position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,073 shares of the technology company's stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WTS. Boston Partners boosted its position in shares of Watts Water Technologies by 43.3% during the 1st quarter. Boston Partners now owns 905,783 shares of the technology company's stock valued at $184,708,000 after acquiring an additional 273,628 shares during the last quarter. Nuveen LLC bought a new position in shares of Watts Water Technologies during the 1st quarter valued at approximately $49,199,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Watts Water Technologies during the 2nd quarter valued at approximately $50,400,000. Allianz Asset Management GmbH boosted its position in shares of Watts Water Technologies by 2,366.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 153,282 shares of the technology company's stock valued at $37,691,000 after acquiring an additional 147,068 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Watts Water Technologies by 210.6% during the 1st quarter. Jane Street Group LLC now owns 57,901 shares of the technology company's stock valued at $11,807,000 after acquiring an additional 39,260 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Stock Performance

NYSE:WTS opened at $281.73 on Wednesday. The stock's fifty day moving average is $278.40 and its 200 day moving average is $250.36. Watts Water Technologies, Inc. has a fifty-two week low of $177.59 and a fifty-two week high of $287.89. The firm has a market capitalization of $9.40 billion, a PE ratio of 30.29, a PEG ratio of 3.38 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59.

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

Watts Water Technologies Dividend Announcement

The firm 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 was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies's dividend payout ratio (DPR) is presently 22.37%.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following the sale, the director owned 1,194 shares in the company, valued at $327,693.30. This trade represents a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stifel Nicolaus increased their target price 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. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Barclays initiated coverage on Watts Water Technologies in a research report on Friday, September 19th. They set an "equal weight" rating and a $287.00 target price for the company. Wall Street Zen upgraded Watts Water Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Weiss Ratings restated a "buy (b+)" rating on shares of Watts Water Technologies in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Watts Water Technologies presently has an average rating of "Hold" and an average target price of $253.80.

Watts Water Technologies Company 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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