Geode Capital Management LLC Boosts Stock Holdings in Watts Water Technologies, Inc. $WTS

Geode Capital Management LLC lifted its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 20.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 804,050 shares of the technology company’s stock after buying an additional 138,034 shares during the period. Geode Capital Management LLC’s holdings in Watts Water Technologies were worth $197,728,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. AEGON ASSET MANAGEMENT UK Plc raised its position in Watts Water Technologies by 18.5% during the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 77,892 shares of the technology company’s stock valued at $19,164,000 after purchasing an additional 12,148 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Watts Water Technologies during the first quarter valued at approximately $259,000. GSA Capital Partners LLP purchased a new stake in Watts Water Technologies in the first quarter worth $802,000. Jane Street Group LLC boosted its holdings in Watts Water Technologies by 210.6% in the first quarter. Jane Street Group LLC now owns 57,901 shares of the technology company’s stock valued at $11,807,000 after acquiring an additional 39,260 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Watts Water Technologies during the 2nd quarter valued at $233,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder Timothy P. Horne sold 6,994 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 23,006 shares in the company, valued at $6,410,621.90. The trade was a 23.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Watts Water Technologies Trading Down 1.8%

NYSE WTS opened at $265.01 on Tuesday. 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 fifty day moving average price is $276.88 and its 200-day moving average price is $261.32. The stock has a market cap of $8.84 billion, a P/E ratio of 28.50, a P/E/G 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.21. The company had revenue of $611.70 million for the quarter, compared to analysts’ expectations of $576.20 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. Watts Water Technologies’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.03 EPS. Watts Water Technologies has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company 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 dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. Watts Water Technologies’s dividend payout ratio (DPR) is 21.47%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WTS. Zacks Research lowered shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Wall Street Zen raised Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Watts Water Technologies in a research note on Tuesday, October 14th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Watts Water Technologies has an average rating of “Hold” and a consensus price target 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.