Skandinaviska Enskilda Banken AB publ Acquires 3,101 Shares of Watts Water Technologies, Inc. $WTS

Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 80.0% in the 3rd quarter, Holdings Channel reports. The firm owned 6,978 shares of the technology company’s stock after purchasing an additional 3,101 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Watts Water Technologies were worth $1,949,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. MTM Investment Management LLC purchased a new position in Watts Water Technologies in the 2nd quarter worth about $25,000. Cullen Frost Bankers Inc. boosted its position in Watts Water Technologies by 156.9% in the 2nd 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. GAMMA Investing LLC grew its stake in Watts Water Technologies by 31.6% in the 3rd quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock worth $72,000 after acquiring an additional 62 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Watts Water Technologies by 474.6% during the second quarter. EverSource Wealth Advisors LLC now owns 339 shares of the technology company’s stock worth $83,000 after acquiring an additional 280 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Watts Water Technologies by 138.4% during the third quarter. Farther Finance Advisors LLC now owns 329 shares of the technology company’s stock worth $92,000 after acquiring an additional 191 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Down 0.8%

Shares of NYSE WTS opened at $326.57 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $10.89 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24. The stock’s fifty day simple moving average is $297.43 and its two-hundred day simple moving average is $283.32. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $345.17.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. The business had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the business posted $2.05 EPS. As a group, analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a $0.52 dividend. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a yield of 1.9%. Watts Water Technologies’s payout ratio is currently 20.45%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a report on Thursday, January 8th. The Goldman Sachs Group upped their target price on Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $339.00 price target on shares of Watts Water Technologies in a research report on Friday, February 13th. Stifel Nicolaus raised their price target on Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Finally, Barclays upped their price objective on shares of Watts Water Technologies from $300.00 to $323.00 and gave the stock an “equal weight” rating in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $334.11.

Insider Activity

In related news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the completion of the transaction, the chief executive officer owned 191,202 shares in the company, valued at $62,582,326.62. The trade was a 7.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Virginia A. Halloran sold 605 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total transaction of $167,451.90. Following the sale, the chief accounting officer directly owned 13,412 shares of the company’s stock, valued at $3,712,173.36. The trade was a 4.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,452 shares of company stock valued at $9,151,499. Corporate insiders own 1.00% of the company’s stock.

Watts Water Technologies Company 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.