Watts Water Technologies, Inc. $WTS Shares Acquired by E. Ohman J or Asset Management AB

Key Points

• E. Ohman J or Asset Management AB sharply increased its stake in Watts Water Technologies, lifting holdings by 414.8% in the first quarter to 64,549 shares, worth about $18.7 million.
• Watts Water Technologies reported strong quarterly results, with EPS of $3.04 beating estimates and revenue of $677.3 million, up 21.4% year over year.
• Analysts remain cautious overall: the stock has a consensus Hold rating with an average price target of $329.44, even as the shares recently traded around $344.78.

E. Ohman J or Asset Management AB lifted its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 414.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,549 shares of the technology company's stock after buying an additional 52,010 shares during the quarter. E. Ohman J or Asset Management AB owned 0.19% of Watts Water Technologies worth $18,738,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Advyzon Investment Management LLC boosted its position in shares of Watts Water Technologies by 3.8% during the 4th quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company's stock worth $233,000 after purchasing an additional 31 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Watts Water Technologies by 0.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company's stock valued at $1,149,000 after purchasing an additional 32 shares in the last quarter. C M Bidwell & Associates Ltd. lifted its stake in shares of Watts Water Technologies by 5.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company's stock valued at $179,000 after purchasing an additional 34 shares during the period. Centennial Wealth Advisory LLC boosted its holdings in Watts Water Technologies by 3.8% during the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company's stock worth $279,000 after buying an additional 37 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Watts Water Technologies by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company's stock valued at $1,521,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 95.02% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on WTS. Weiss Ratings downgraded Watts Water Technologies from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $358.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research report on Friday, May 8th. Wall Street Zen downgraded Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Finally, Stifel Nicolaus set a $379.00 price objective on shares of Watts Water Technologies in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $329.44.

Insider Buying and Selling at Watts Water Technologies

In other news, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the sale, the insider owned 8,963 shares of the company's stock, valued at $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Dubose sold 398 shares of the company's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the transaction, the director owned 1,814 shares of the company's stock, valued at $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company's stock.

Watts Water Technologies Stock Performance

Watts Water Technologies stock opened at $344.78 on Friday. Watts Water Technologies, Inc. has a fifty-two week low of $238.58 and a fifty-two week high of $348.09. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 3.05 and a beta of 1.19. The stock has a fifty day moving average of $308.19 and a two-hundred day moving average of $301.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating analysts' consensus estimates of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The business had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. During the same quarter last year, the company earned $2.37 earnings per share. The business's revenue for the quarter was up 21.4% compared to the same quarter last year. On average, analysts anticipate that Watts Water Technologies, Inc. will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Watts Water Technologies's payout ratio is presently 23.06%.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company's product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.

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