Handelsbanken Fonder AB Has $8.86 Million Stock Position in Watts Water Technologies, Inc. $WTS

Handelsbanken Fonder AB raised its position in Watts Water Technologies, Inc. (NYSE:WTS) by 232.4% during the third quarter, HoldingsChannel.com reports. The firm owned 31,728 shares of the technology company’s stock after buying an additional 22,184 shares during the quarter. Handelsbanken Fonder AB’s holdings in Watts Water Technologies were worth $8,861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Watts Water Technologies in the third quarter worth about $6,444,000. Allianz Asset Management GmbH raised its stake in shares of Watts Water Technologies by 17.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company’s stock valued at $50,375,000 after acquiring an additional 27,093 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of Watts Water Technologies by 10.9% in the 3rd quarter. AE Wealth Management LLC now owns 138,293 shares of the technology company’s stock valued at $38,622,000 after acquiring an additional 13,642 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Watts Water Technologies by 80.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,978 shares of the technology company’s stock worth $1,949,000 after purchasing an additional 3,101 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Watts Water Technologies by 10.5% during the second quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock worth $60,425,000 after purchasing an additional 23,447 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 7,500 shares of Watts Water Technologies stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the sale, the insider owned 7,500 shares of the company’s stock, valued at approximately $2,475,300. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $5,258,562.46. Following the sale, the chief executive officer owned 191,202 shares in the company, valued at approximately $62,582,326.62. This represents a 7.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 29,196 shares of company stock valued at $9,514,741. 1.10% of the stock is currently owned by insiders.

Watts Water Technologies Trading Down 0.3%

Shares of WTS stock opened at $329.04 on Monday. The firm has a market capitalization of $10.97 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 2.99 and a beta of 1.23. Watts Water Technologies, Inc. has a 1 year low of $177.59 and a 1 year high of $345.17. The firm’s fifty day simple moving average is $302.31 and its 200 day simple moving average is $285.58. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10.

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

Watts Water Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

WTS has been the topic of a number of recent analyst reports. Zacks Research raised shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Barclays lifted their target price on shares of Watts Water Technologies from $300.00 to $323.00 and gave the stock an “equal weight” rating in a report on Friday, February 13th. HSBC began coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $339.00 price target on shares of Watts Water Technologies in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Watts Water Technologies currently has an average rating of “Moderate Buy” and an average target price of $334.11.

Watts Water Technologies 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.