Watts Water Technologies, Inc. $WTS Shares Acquired by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its stake in Watts Water Technologies by 18.5% during the 2nd quarter, holding approximately 0.23% of the company valued at $19.16 million.
• Watts Water Technologies reported earnings of $3.09 EPS for the last quarter, exceeding analysts' expectations and showing a 7.8% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.52 per share, resulting in an annualized yield of 0.8% and a payout ratio of 22.37%.

AEGON ASSET MANAGEMENT UK Plc raised its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 18.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 77,892 shares of the technology company's stock after buying an additional 12,148 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned about 0.23% of Watts Water Technologies worth $19,164,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in WTS. Costello Asset Management INC purchased a new stake in shares of Watts Water Technologies in the 1st quarter worth about $33,000. GAMMA Investing LLC lifted its holdings in Watts Water Technologies by 80.5% in the 1st quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock valued at $57,000 after purchasing an additional 124 shares in the last quarter. Summit Securities Group LLC purchased a new position in Watts Water Technologies in the 1st quarter valued at about $64,000. Caitong International Asset Management Co. Ltd purchased a new position in Watts Water Technologies in the 1st quarter valued at about $77,000. Finally, Covestor Ltd lifted its holdings in Watts Water Technologies by 39.1% in the 1st quarter. Covestor Ltd now owns 423 shares of the technology company's stock valued at $87,000 after purchasing an additional 119 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Trading Up 1.4%

NYSE WTS opened at $274.91 on Wednesday. The company has a 50-day moving average of $277.12 and a 200-day moving average of $247.64. The company has a market cap of $9.17 billion, a P/E ratio of 29.56, a P/E/G ratio of 3.25 and a beta of 1.13. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month 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.

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

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 29th. Watts Water Technologies's dividend payout ratio is 22.37%.

Insider Transactions at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 713 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

WTS has been the topic of a number of recent research reports. Weiss Ratings restated a "buy (b+)" rating on shares of Watts Water Technologies in a report on Tuesday. Stifel Nicolaus upped their target price on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Wall Street Zen downgraded shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Barclays started coverage on shares of Watts Water Technologies in a research note on Friday, September 19th. They set an "equal weight" rating and a $287.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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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