Strs Ohio Buys New Holdings in Watts Water Technologies Inc (WTS)
Strs Ohio acquired a new stake in Watts Water Technologies Inc (NYSE:WTS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 400 shares of the technology company’s stock, valued at approximately $32,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WTS. Norges Bank acquired a new position in Watts Water Technologies in the fourth quarter valued at approximately $30,091,000. Victory Capital Management Inc. lifted its holdings in Watts Water Technologies by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 969,869 shares of the technology company’s stock valued at $62,586,000 after acquiring an additional 182,700 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Watts Water Technologies by 5.1% in the fourth quarter. Impax Asset Management Group plc now owns 2,529,189 shares of the technology company’s stock valued at $163,209,000 after acquiring an additional 122,256 shares during the last quarter. Morgan Stanley lifted its holdings in Watts Water Technologies by 54.0% in the third quarter. Morgan Stanley now owns 211,625 shares of the technology company’s stock valued at $17,565,000 after acquiring an additional 74,235 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Watts Water Technologies by 1.7% in the third quarter. Vanguard Group Inc. now owns 2,767,832 shares of the technology company’s stock valued at $229,730,000 after acquiring an additional 45,313 shares during the last quarter. Hedge funds and other institutional investors own 77.47% of the company’s stock.
In other news, General Counsel Kenneth Robert Lepage sold 9,673 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $81.58, for a total transaction of $789,123.34. Following the sale, the general counsel now owns 35,365 shares of the company’s stock, valued at $2,885,076.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Timothy P. Horne sold 10,142 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $79.57, for a total value of $806,998.94. Following the sale, the insider now directly owns 2,358 shares in the company, valued at approximately $187,626.06. The disclosure for this sale can be found here. Insiders have sold 59,996 shares of company stock worth $4,830,215 over the last 90 days. 0.75% of the stock is owned by insiders.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $388.70 million for the quarter, compared to analysts’ expectations of $388.77 million. During the same period in the prior year, the firm earned $0.82 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that Watts Water Technologies Inc will post 4.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.10%. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, May 30th. Watts Water Technologies’s dividend payout ratio is 22.46%.
A number of research firms recently commented on WTS. Zacks Investment Research cut Watts Water Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Stifel Nicolaus upped their price objective on Watts Water Technologies from $88.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer restated a “hold” rating on shares of Watts Water Technologies in a research note on Monday, February 11th. Finally, Janney Montgomery Scott upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Watts Water Technologies currently has a consensus rating of “Hold” and a consensus target price of $89.50.
About Watts Water Technologies
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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