Watts Water Technologies, Inc. $WTS Stock: Assenagon Asset Management S.A. Boosts Position

Assenagon Asset Management S.A. grew its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 47.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,891 shares of the technology company's stock after buying an additional 5,137 shares during the period. Assenagon Asset Management S.A.'s holdings in Watts Water Technologies were worth $5,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WTS. First Citizens Bank & Trust Co. purchased a new position in Watts Water Technologies in the 3rd quarter valued at about $1,056,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Watts Water Technologies during the third quarter worth $208,000. GAMMA Investing LLC boosted its holdings in shares of Watts Water Technologies by 21.1% during the third quarter. GAMMA Investing LLC now owns 579 shares of the technology company's stock worth $205,000 after purchasing an additional 101 shares during the last quarter. HWG Holdings LP grew its position in shares of Watts Water Technologies by 18.9% in the third quarter. HWG Holdings LP now owns 13,217 shares of the technology company's stock valued at $4,681,000 after purchasing an additional 2,099 shares during the period. Finally, Cim Investment Management Inc. grew its position in shares of Watts Water Technologies by 7.3% in the second quarter. Cim Investment Management Inc. now owns 2,063 shares of the technology company's stock valued at $808,000 after purchasing an additional 140 shares during the period. Hedge funds and other institutional investors own 95.02% of the company's stock.

Analysts Set New Price Targets

WTS has been the subject of several analyst reports. Barclays upped their target price on Watts Water Technologies from $414.00 to $425.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Royal Bank Of Canada restated a "sector perform" rating and issued a $417.00 price objective on shares of Watts Water Technologies in a report on Wednesday, October 14th. Robert W. Baird set a $405.00 price objective on Watts Water Technologies in a report on Friday, August 7th. KeyCorp lifted their price objective on Watts Water Technologies from $380.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, Stifel Nicolaus set a $445.00 target price on Watts Water Technologies in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Watts Water Technologies currently has an average rating of "Moderate Buy" and an average target price of $371.90.

Insider Activity at Watts Water Technologies

In other news, insider Elie Melhem sold 1,096 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $359.55, for a total transaction of $394,066.80. Following the completion of the sale, the insider owned 7,867 shares of the company's stock, valued at approximately $2,828,579.85. This trade represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Noonan sold 3,650 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company's stock.

Watts Water Technologies Stock Up 0.5%

NYSE WTS opened at $358.66 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. Watts Water Technologies, Inc. has a fifty-two week low of $260.00 and a fifty-two week high of $394.54. The business has a 50 day moving average price of $361.07 and a two-hundred day moving average price of $338.97. The stock has a market cap of $11.97 billion, a PE ratio of 30.20, a P/E/G ratio of 3.47 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its earnings results on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping analysts' consensus estimates of $3.34 by $0.32. The business had revenue of $763.20 million for the quarter, compared to analysts' expectations of $725.99 million. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business's revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.09 earnings per share. As a group, sell-side analysts predict that Watts Water Technologies, Inc. will post 12.87 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 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 was Tuesday, September 1st. Watts Water Technologies's dividend payout ratio is 22.01%.

Watts Water Technologies Profile

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company's offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.

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