BlackRock Inc. cut its stake in shares of Watts Water Technologies Inc (NYSE:WTS) by 0.2% in the first quarter, HoldingsChannel.com reports. The fund owned 4,437,550 shares of the technology company’s stock after selling 8,043 shares during the period. BlackRock Inc. owned approximately 0.13% of Watts Water Technologies worth $358,644,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in WTS. Norges Bank purchased a new position in Watts Water Technologies in the 4th quarter worth approximately $30,091,000. Victory Capital Management Inc. grew its position in Watts Water Technologies by 23.2% in the 4th quarter. Victory Capital Management Inc. now owns 969,869 shares of the technology company’s stock valued at $62,586,000 after acquiring an additional 182,700 shares during the last quarter. Impax Asset Management Group plc grew its position in Watts Water Technologies by 5.1% in the 4th quarter. Impax Asset Management Group plc now owns 2,529,189 shares of the technology company’s stock valued at $163,209,000 after acquiring an additional 122,256 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Watts Water Technologies by 153.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 80,292 shares of the technology company’s stock worth $6,489,000 after buying an additional 48,570 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Watts Water Technologies by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 293,010 shares of the technology company’s stock worth $18,907,000 after buying an additional 20,834 shares in the last quarter. Institutional investors own 75.82% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Watts Water Technologies from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Zacks Investment Research cut Watts Water Technologies from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Friday, May 31st. ValuEngine raised Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Janney Montgomery Scott raised Watts Water Technologies from a “neutral” rating to a “buy” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Watts Water Technologies currently has an average rating of “Hold” and a consensus price target of $88.83.
Watts Water Technologies (NYSE:WTS) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. Watts Water Technologies had a return on equity of 14.93% and a net margin of 8.10%. The company had revenue of $388.70 million for the quarter, compared to the consensus estimate of $388.77 million. During the same quarter in the previous year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts anticipate that Watts Water Technologies Inc will post 4.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.04%. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, May 30th. Watts Water Technologies’s payout ratio is presently 24.60%.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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