BlackRock Group LTD Boosts Position in Watts Water Technologies, Inc. (WTS)
BlackRock Group LTD raised its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 4.5% during the third quarter, Holdings Channel reports. The firm owned 118,495 shares of the company’s stock after buying an additional 5,112 shares during the period. BlackRock Group LTD owned about 0.35% of Watts Water Technologies worth $7,684,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of WTS. Rhumbline Advisers raised its stake in Watts Water Technologies by 4.6% in the third quarter. Rhumbline Advisers now owns 42,682 shares of the company’s stock valued at $2,768,000 after buying an additional 1,870 shares during the period. BlackRock Fund Advisors raised its stake in Watts Water Technologies by 7.5% in the third quarter. BlackRock Fund Advisors now owns 1,931,896 shares of the company’s stock valued at $125,264,000 after buying an additional 135,475 shares during the period. BlackRock Inc. raised its stake in Watts Water Technologies by 40.2% in the third quarter. BlackRock Inc. now owns 21,148 shares of the company’s stock valued at $1,371,000 after buying an additional 6,062 shares during the period. BlackRock Investment Management LLC raised its stake in Watts Water Technologies by 0.3% in the third quarter. BlackRock Investment Management LLC now owns 117,216 shares of the company’s stock valued at $7,600,000 after buying an additional 376 shares during the period. Finally, BlackRock Advisors LLC raised its stake in Watts Water Technologies by 259.3% in the third quarter. BlackRock Advisors LLC now owns 67,183 shares of the company’s stock valued at $4,356,000 after buying an additional 48,484 shares during the period. 81.40% of the stock is currently owned by institutional investors.
Watts Water Technologies, Inc. (NYSE:WTS) traded up 1.42% during trading on Friday, reaching $64.50. 7,959 shares of the company’s stock were exchanged. Watts Water Technologies, Inc. has a 12-month low of $44.99 and a 12-month high of $71.05. The company’s market cap is $2.21 billion. The stock’s 50-day moving average is $67.23 and its 200-day moving average is $63.96.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $341 million for the quarter, compared to the consensus estimate of $352.64 million. Watts Water Technologies had a negative net margin of 3.64% and a positive return on equity of 12.41%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 EPS. Analysts predict that Watts Water Technologies, Inc. will post $2.67 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Wednesday, November 30th. Watts Water Technologies’s payout ratio is presently -48.65%.
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Several research firms have recently issued reports on WTS. Zacks Investment Research raised shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, January 7th. Janney Montgomery Scott initiated coverage on shares of Watts Water Technologies in a research report on Friday, September 16th. They issued a “neutral” rating and a $63.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Watts Water Technologies presently has a consensus rating of “Hold” and a consensus target price of $61.40.
In other news, insider Elie Melhem sold 6,143 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $67.78, for a total value of $416,372.54. Following the transaction, the insider now owns 32,464 shares in the company, valued at approximately $2,200,409.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard J. Cathcart sold 1,000 shares of the stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $68.47, for a total transaction of $68,470.00. Following the completion of the transaction, the director now owns 18,032 shares in the company, valued at approximately $1,234,651.04. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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