Paralel Advisors LLC Makes New Investment in Watts Water Technologies, Inc. $WTS

Key Points

• Paralel Advisors LLC has acquired a new position in Watts Water Technologies, Inc., purchasing 13,083 shares valued at approximately $3,217,000 in the second quarter of 2023.
• Other institutional investors have also increased their stakes significantly, with Boston Partners growing its holdings by 43.3% and several others implementing new investments in the company.
• Watts Water Technologies recently declared a quarterly dividend of $0.52, reflecting a 0.7% dividend yield and a payout ratio of 22.37%.

Paralel Advisors LLC purchased a new position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,083 shares of the technology company's stock, valued at approximately $3,217,000.

Several other institutional investors also recently bought and sold shares of WTS. Boston Partners grew its holdings in shares of Watts Water Technologies by 43.3% in the first quarter. Boston Partners now owns 905,783 shares of the technology company's stock worth $184,708,000 after purchasing an additional 273,628 shares during the last quarter. Nuveen LLC bought a new stake in Watts Water Technologies in the 1st quarter worth $49,199,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Watts Water Technologies in the second quarter valued at about $50,400,000. Allianz Asset Management GmbH raised its stake in shares of Watts Water Technologies by 2,366.7% during the second 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 raised its stake in shares of Watts Water Technologies by 210.6% during the first 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 hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WTS shares. Weiss Ratings restated a "buy (b+)" rating on shares of Watts Water Technologies in a report on Tuesday, October 14th. Barclays began coverage on Watts Water Technologies in a research report on Friday, September 19th. They issued an "equal weight" rating and a $287.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Zacks Research lowered Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, Stifel Nicolaus boosted their price objective on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Watts Water Technologies currently has a consensus rating of "Hold" and a consensus target price of $253.80.

Insider Transactions at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 713 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the sale, the director directly owned 1,194 shares of the company's stock, valued at approximately $327,693.30. This represents a 37.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Watts Water Technologies Stock Up 0.1%

NYSE:WTS opened at $281.88 on Thursday. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $287.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.59 and a quick ratio of 1.63. The firm's 50-day moving average price is $278.49 and its 200-day moving average price is $250.58. The company has a market capitalization of $9.40 billion, a PE ratio of 30.31, a P/E/G ratio of 3.38 and a beta of 1.13.

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

Watts Water Technologies Announces Dividend

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

Watts Water Technologies 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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