Boston Partners Increases Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Key Points

• Boston Partners increased its stake in Watts Water Technologies by 43.3%, owning 905,783 shares valued at approximately $184.7 million after purchasing an additional 273,628 shares in the first quarter.
• Watts Water Technologies reported quarterly earnings of $3.09 per share, exceeding expectations and highlighting a revenue increase of 7.8% year-over-year, totaling $643.7 million for the quarter.
• The company announced a quarterly dividend of $0.52 per share, equating to an annualized dividend yield of 0.7%, with a payout ratio currently at 22.37%.

Boston Partners raised its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 43.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 905,783 shares of the technology company's stock after purchasing an additional 273,628 shares during the period. Boston Partners owned 2.72% of Watts Water Technologies worth $184,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in WTS. Caitong International Asset Management Co. Ltd purchased a new position in shares of Watts Water Technologies in the 1st quarter worth approximately $77,000. Nuveen LLC acquired a new position in shares of Watts Water Technologies during the first quarter worth $49,199,000. Virtu Financial LLC acquired a new position in shares of Watts Water Technologies during the first quarter worth $389,000. Invesco Ltd. boosted its position in shares of Watts Water Technologies by 6.6% in the 1st quarter. Invesco Ltd. now owns 299,956 shares of the technology company's stock worth $61,167,000 after purchasing an additional 18,516 shares in the last quarter. Finally, Benjamin Edwards Inc. purchased a new position in Watts Water Technologies during the 1st quarter worth $207,000. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Stock Performance

WTS traded down $3.19 during trading on Friday, reaching $271.23. 156,366 shares of the company's stock were exchanged, compared to its average volume of 247,480. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.59 and a quick ratio of 1.63. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $278.20. The company's fifty day simple moving average is $253.02 and its 200-day simple moving average is $228.12. The stock has a market capitalization of $9.05 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 3.27 and a beta of 1.13.

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

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. Watts Water Technologies's dividend payout ratio is presently 22.37%.

Insider Transactions at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $241.85, for a total transaction of $1,692,950.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the transaction, the director owned 1,194 shares of the company's stock, valued at approximately $327,693.30. This represents a 37.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Wall Street Zen raised shares of Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Northcoast Research cut shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a report on Friday, May 16th. Finally, Stifel Nicolaus upped 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. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $245.50.

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.