MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 1,755 Shares of Watts Water Technologies, Inc. $WTS

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Watts Water Technologies, Inc. by 8.8%, acquiring an additional 1,755 shares, bringing its total to 21,750 shares valued at approximately $4.43 million.
• Shares of Watts Water Technologies recently saw a price increase of 2.0%, with a current market value of $284.13 and a 52-week high of $285.90.
• Watts Water Technologies declared a quarterly dividend of $0.52 per share, which will be paid on September 15th, representing a 0.7% yield based on its annualized dividend.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 8.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,750 shares of the technology company's stock after buying an additional 1,755 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.07% of Watts Water Technologies worth $4,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its position in Watts Water Technologies by 2.0% in the 1st quarter. Mackenzie Financial Corp now owns 4,172 shares of the technology company's stock worth $851,000 after buying an additional 80 shares during the last quarter. Versant Capital Management Inc increased its stake in Watts Water Technologies by 57.3% in the 1st quarter. Versant Capital Management Inc now owns 225 shares of the technology company's stock worth $46,000 after purchasing an additional 82 shares during the period. State of Alaska Department of Revenue increased its stake in Watts Water Technologies by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 3,207 shares of the technology company's stock worth $653,000 after purchasing an additional 85 shares during the period. Parallel Advisors LLC increased its stake in Watts Water Technologies by 45.0% in the 1st quarter. Parallel Advisors LLC now owns 293 shares of the technology company's stock worth $60,000 after purchasing an additional 91 shares during the period. Finally, State of Michigan Retirement System increased its stake in Watts Water Technologies by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 6,595 shares of the technology company's stock worth $1,345,000 after purchasing an additional 100 shares during the period. Institutional investors own 95.02% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Stifel Nicolaus lifted their price target on Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Northcoast Research cut Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen cut Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Watts Water Technologies has a consensus rating of "Hold" and a consensus price target of $245.50.

Insiders Place Their Bets

In related news, Director Joseph T. Noonan sold 713 shares of the company's 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 directly owned 1,194 shares of the company's stock, valued at $327,693.30. This represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by insiders.

Watts Water Technologies Stock Up 2.0%

Shares of NYSE:WTS opened at $284.13 on Friday. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $285.90. The firm has a market capitalization of $9.48 billion, a P/E ratio of 30.55, a P/E/G ratio of 3.34 and a beta of 1.11. The stock has a 50 day moving average price of $265.95 and a 200-day moving average price of $236.69. 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 issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.41. The company 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 revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 earnings per share. As a group, equities research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 29th. Watts Water Technologies's dividend payout ratio is presently 22.37%.

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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