CIBC Asset Management Inc acquired a new stake in shares of Watts Water Technologies Inc (NYSE:WTS) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 2,666 shares of the technology company’s stock, valued at approximately $215,000.
Several other institutional investors have also added to or reduced their stakes in WTS. Comerica Bank boosted its position in Watts Water Technologies by 0.6% in the fourth quarter. Comerica Bank now owns 27,064 shares of the technology company’s stock worth $1,977,000 after purchasing an additional 162 shares during the last quarter. FMR LLC boosted its position in Watts Water Technologies by 70.0% in the fourth quarter. FMR LLC now owns 425 shares of the technology company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in Watts Water Technologies by 3.2% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 6,608 shares of the technology company’s stock worth $426,000 after purchasing an additional 207 shares during the last quarter. ETF Managers Group LLC boosted its position in Watts Water Technologies by 15.7% in the fourth quarter. ETF Managers Group LLC now owns 1,677 shares of the technology company’s stock worth $108,000 after purchasing an additional 228 shares during the last quarter. Finally, CAPROCK Group Inc. boosted its position in Watts Water Technologies by 5.9% in the fourth quarter. CAPROCK Group Inc. now owns 4,778 shares of the technology company’s stock worth $308,000 after purchasing an additional 265 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.
Shares of NYSE:WTS opened at $81.58 on Monday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 2.06 and a beta of 1.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.35 and a current ratio of 2.27. Watts Water Technologies Inc has a 52-week low of $61.17 and a 52-week high of $93.35.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $388.70 million for the quarter, compared to analysts’ expectations of $388.77 million. During the same period last year, the firm posted $0.82 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts anticipate that Watts Water Technologies Inc will post 4.04 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.23 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.92 annualized dividend and a dividend yield of 1.13%. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.21. Watts Water Technologies’s dividend payout ratio (DPR) is 22.46%.
In other news, major shareholder Timothy P. Horne sold 976 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $81.00, for a total value of $79,056.00. Following the transaction, the insider now owns 49,024 shares of the company’s stock, valued at $3,970,944. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Elie Melhem sold 2,681 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.77, for a total value of $216,544.37. The disclosure for this sale can be found here. Insiders sold 50,323 shares of company stock worth $4,041,091 in the last ninety days. Corporate insiders own 0.75% of the company’s stock.
Several research analysts have issued reports on the company. Zacks Investment Research raised Watts Water Technologies from a “sell” rating to a “hold” rating in a research report on Friday. Janney Montgomery Scott raised Watts Water Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, May 6th. Stifel Nicolaus raised their target price on Watts Water Technologies from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer reissued a “hold” rating on shares of Watts Water Technologies in a research report on Monday, February 11th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Watts Water Technologies currently has an average rating of “Hold” and a consensus price target of $89.50.
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Watts Water Technologies Profile
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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