Watts Water Technologies, Inc. $WTS Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Watts Water Technologies by 20.8%, owning 14,676 shares worth nearly $3 million as of the latest SEC filing.
• Watts Water Technologies recently reported earnings per share of $3.09, exceeding analysts' estimates of $2.68, alongside a 7.8% year-on-year revenue increase to $643.7 million.
• The company declared a quarterly dividend of $0.52, with a yield of 0.7%, payable to shareholders on September 15.

Intech Investment Management LLC boosted its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 20.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,676 shares of the technology company's stock after acquiring an additional 2,530 shares during the quarter. Intech Investment Management LLC's holdings in Watts Water Technologies were worth $2,993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Ransom Advisory Ltd acquired a new stake in Watts Water Technologies during the 1st quarter worth approximately $163,000. Jane Street Group LLC lifted its position in Watts Water Technologies by 210.6% during the 1st quarter. Jane Street Group LLC now owns 57,901 shares of the technology company's stock worth $11,807,000 after acquiring an additional 39,260 shares during the period. Bayforest Capital Ltd lifted its position in Watts Water Technologies by 439.0% during the 1st quarter. Bayforest Capital Ltd now owns 2,431 shares of the technology company's stock worth $496,000 after acquiring an additional 1,980 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company's stock worth $20,163,000 after acquiring an additional 7,537 shares during the period. Finally, Vancity Investment Management Ltd acquired a new stake in shares of Watts Water Technologies in the 1st quarter valued at approximately $869,000. 95.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Watts Water Technologies

In other news, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the transaction, the director directly owned 1,194 shares of the company's stock, valued at $327,693.30. The trade was a 37.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wall Street Zen downgraded Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Finally, Stifel Nicolaus lifted their price target on Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $245.50.

Watts Water Technologies Stock Performance

Shares of WTS stock opened at $281.55 on Monday. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $285.90. The stock has a market cap of $9.39 billion, a PE ratio of 30.27, a P/E/G ratio of 3.38 and a beta of 1.11. The stock has a fifty day moving average price of $266.48 and a 200 day moving average price of $237.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.41. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The company had revenue of $643.70 million during the quarter, compared to analysts' expectations of $612.15 million. During the same period in the previous year, the firm posted $2.46 earnings per share. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 29th. Watts Water Technologies's payout ratio is 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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