Handelsbanken Fonder AB Buys 1,600 Shares of Watts Water Technologies, Inc. $WTS

Handelsbanken Fonder AB lifted its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 20.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,544 shares of the technology company’s stock after buying an additional 1,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Watts Water Technologies were worth $2,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Cumberland Partners Ltd purchased a new stake in Watts Water Technologies in the 2nd quarter worth approximately $738,000. Empowered Funds LLC lifted its holdings in Watts Water Technologies by 1,546.9% during the second quarter. Empowered Funds LLC now owns 27,701 shares of the technology company’s stock valued at $6,811,000 after purchasing an additional 26,019 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in shares of Watts Water Technologies by 15.7% in the second quarter. Duff & Phelps Investment Management Co. now owns 34,948 shares of the technology company’s stock worth $8,593,000 after purchasing an additional 4,732 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Watts Water Technologies by 0.6% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 10,796 shares of the technology company’s stock worth $2,655,000 after purchasing an additional 65 shares in the last quarter. Finally, MTM Investment Management LLC purchased a new stake in shares of Watts Water Technologies in the second quarter worth $25,000. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Trading Up 2.7%

Shares of WTS stock opened at $277.66 on Wednesday. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $287.89. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. The stock’s 50-day moving average price is $275.60 and its 200-day moving average price is $263.41. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 29.86, a price-to-earnings-growth ratio of 3.27 and a beta of 1.17.

Watts Water Technologies (NYSE:WTS) last announced its quarterly 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 company had revenue of $611.70 million during the quarter, compared to analyst estimates of $576.20 million. During the same period in the prior year, the company earned $2.03 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. Watts Water Technologies has set its FY 2025 guidance at EPS. Equities research analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, December 1st. Watts Water Technologies’s payout ratio is currently 21.47%.

Wall Street Analyst Weigh In

WTS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Friday, August 8th. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Stifel Nicolaus upped their price objective on Watts Water Technologies from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Barclays lifted their target price on Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Finally, Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $264.25.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 6,814 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total transaction of $1,855,588.48. Following the completion of the transaction, the insider owned 15,000 shares in the company, valued at $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 15,000 shares of company stock worth $4,128,936 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Watts Water Technologies Company Profile

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.