JPMorgan Chase & Co. Has $60.43 Million Stock Position in Watts Water Technologies, Inc. $WTS

JPMorgan Chase & Co. grew its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 10.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 245,741 shares of the technology company’s stock after purchasing an additional 23,447 shares during the period. JPMorgan Chase & Co.’s holdings in Watts Water Technologies were worth $60,425,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MTM Investment Management LLC bought a new position in Watts Water Technologies during the 2nd quarter worth $25,000. Cullen Frost Bankers Inc. increased its stake in shares of Watts Water Technologies by 156.9% in the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock valued at $32,000 after buying an additional 80 shares during the period. Costello Asset Management INC bought a new position in shares of Watts Water Technologies during the first quarter worth about $33,000. Summit Securities Group LLC bought a new position in shares of Watts Water Technologies during the first quarter worth about $64,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Watts Water Technologies in the first quarter worth approximately $77,000. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $275.88 on Friday. The firm has a market capitalization of $9.20 billion, a P/E ratio of 29.66, a P/E/G ratio of 3.27 and a beta of 1.17. The firm’s 50-day moving average price is $275.30 and its 200-day moving average price is $263.97. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 1-year low of $177.59 and a 1-year high of $287.89.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The business had revenue of $611.70 million during the quarter, compared to analyst estimates of $576.20 million. During the same period in the previous year, the company posted $2.03 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. Watts Water Technologies has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 1st. Watts Water Technologies’s dividend payout ratio is presently 21.47%.

Insider Activity

In related news, major shareholder Timothy P. Horne sold 6,994 shares of Watts Water Technologies stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $278.65, for a total value of $1,948,878.10. Following the completion of the sale, the insider owned 23,006 shares of the company’s stock, valued at approximately $6,410,621.90. This trade represents a 23.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 15,000 shares of company stock valued at $4,128,936. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WTS. Barclays increased their target price on shares of Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Wall Street Zen upgraded shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Stifel Nicolaus boosted their target price on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, November 24th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $264.25.

About Watts Water Technologies

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.