Livforsakringsbolaget Skandia Omsesidigt Raises Stock Position in Watts Water Technologies, Inc. $WTS

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 20,071.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 141,200 shares of the technology company’s stock after acquiring an additional 140,500 shares during the period. Watts Water Technologies comprises about 1.6% of Livforsakringsbolaget Skandia Omsesidigt’s holdings, making the stock its 11th biggest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Watts Water Technologies were worth $40,989,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wexford Capital LP purchased a new stake in shares of Watts Water Technologies during the third quarter worth about $26,000. Acumen Wealth Advisors LLC acquired a new stake in Watts Water Technologies in the 4th quarter worth about $28,000. Clearstead Advisors LLC boosted its holdings in Watts Water Technologies by 69.4% in the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after buying an additional 43 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Watts Water Technologies during the 3rd quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Watts Water Technologies during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Analyst Upgrades and Downgrades

WTS has been the subject of several research reports. TD Cowen boosted their price target on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $358.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. KeyCorp raised their price target on shares of Watts Water Technologies from $360.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $340.20.

Watts Water Technologies Stock Up 0.9%

WTS stock opened at $349.95 on Wednesday. Watts Water Technologies, Inc. has a one year low of $242.77 and a one year high of $394.54. The firm has a market cap of $11.68 billion, a PE ratio of 32.02, a PEG ratio of 3.05 and a beta of 1.14. The firm’s 50 day moving average price is $328.25 and its 200-day moving average price is $311.14. 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) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.32. The company had revenue of $677.30 million during the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.37 earnings per share. On average, equities research analysts anticipate that Watts Water Technologies, Inc. will post 12.03 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 23.06%.

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 directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated 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 directly owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. This represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company 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.