Watts Water Technologies, Inc. $WTS Shares Bought by Groupama Asset Managment

Key Points

• Groupama Asset Managment increased its stake in Watts Water Technologies by 14.9% in the fourth quarter, buying 9,934 more shares and bringing its total holding to 76,674 shares worth about $21.2 million.
• Institutional ownership remains very high at 95.02%, with several other large investors also boosting or initiating positions in the stock during recent quarters.
• Watts Water posted strong quarterly results, reporting EPS of $3.04 and revenue of $677.3 million, both above analyst estimates, while also paying a quarterly dividend of $0.63 per share.

Groupama Asset Managment raised its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,674 shares of the technology company's stock after purchasing an additional 9,934 shares during the period. Groupama Asset Managment owned 0.23% of Watts Water Technologies worth $21,164,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Watts Water Technologies in the fourth quarter valued at about $100,627,000. Cartenna Capital LP purchased a new position in Watts Water Technologies in the third quarter worth approximately $47,478,000. AQR Capital Management LLC lifted its stake in shares of Watts Water Technologies by 148.3% in the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company's stock valued at $68,276,000 after purchasing an additional 165,837 shares during the last quarter. UBS Group AG grew its holdings in shares of Watts Water Technologies by 223.0% during the 3rd quarter. UBS Group AG now owns 202,250 shares of the technology company's stock worth $56,484,000 after purchasing an additional 139,637 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Watts Water Technologies by 79.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company's stock worth $78,067,000 after purchasing an additional 125,218 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WTS shares. Stifel Nicolaus set a $379.00 price objective on Watts Water Technologies in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $358.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Zacks Research cut Watts Water Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 27th. Wall Street Zen downgraded Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 28th. Finally, Royal Bank Of Canada raised their target price on Watts Water Technologies from $318.00 to $323.00 and gave the stock a "sector perform" rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $329.44.

Watts Water Technologies Price Performance

Shares of WTS opened at $344.78 on Friday. Watts Water Technologies, Inc. has a twelve month low of $238.58 and a twelve month high of $348.09. The stock's 50 day moving average is $307.32 and its two-hundred day moving average is $300.71. The firm has a market capitalization of $11.51 billion, a PE ratio of 31.54, a P/E/G ratio of 2.99 and a beta of 1.19. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.72 by $0.32. The business had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The company's revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.37 EPS. Research analysts anticipate that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current year.

Watts Water Technologies Announces Dividend

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

Insider Transactions at Watts Water Technologies

In other news, insider Elie Melhem sold 2,257 shares of the firm's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider directly owned 8,963 shares in the company, valued at $2,697,863. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the transaction, the director owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company's stock.

Watts Water Technologies 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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