Groupama Asset Managment Has $23.98 Million Stock Position in Watts Water Technologies, Inc. $WTS

Groupama Asset Managment lifted its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 7.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,602 shares of the technology company’s stock after purchasing an additional 5,928 shares during the quarter. Groupama Asset Managment owned approximately 0.25% of Watts Water Technologies worth $23,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cumberland Partners Ltd lifted its position in Watts Water Technologies by 100.0% in the fourth quarter. Cumberland Partners Ltd now owns 13,000 shares of the technology company’s stock worth $3,588,000 after purchasing an additional 6,500 shares during the period. Kingsview Wealth Management LLC bought a new stake in Watts Water Technologies in the 4th quarter valued at $2,848,000. Mach 1 Financial Group LLC bought a new stake in Watts Water Technologies in the 4th quarter valued at $1,950,000. AE Wealth Management LLC raised its stake in shares of Watts Water Technologies by 23.8% in the 4th quarter. AE Wealth Management LLC now owns 171,194 shares of the technology company’s stock valued at $47,253,000 after buying an additional 32,901 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Watts Water Technologies by 94.2% in the 4th quarter. Handelsbanken Fonder AB now owns 61,624 shares of the technology company’s stock valued at $17,009,000 after buying an additional 29,896 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Stock Up 0.6%

Shares of NYSE:WTS opened at $346.06 on Friday. The company’s fifty day moving average is $340.34 and its 200-day moving average is $316.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. Watts Water Technologies, Inc. has a 52 week low of $251.17 and a 52 week high of $394.54. The company has a market capitalization of $11.56 billion, a PE ratio of 31.66, a P/E/G ratio of 2.97 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. During the same quarter last year, the company posted $2.37 EPS. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. Equities research analysts predict that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Watts Water Technologies’s dividend payout ratio is currently 23.06%.

Insider Activity at Watts Water Technologies

In other news, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the sale, the insider owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the transaction, the director owned 1,814 shares of the company’s stock, valued at $561,668.82. This trade represents a 17.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WTS has been the topic of several recent research reports. TD Cowen lifted their target price on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Royal Bank Of Canada increased their price target on shares of Watts Water Technologies from $323.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Barclays raised Watts Water Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $317.00 to $414.00 in a report on Tuesday, June 30th. Finally, Stifel Nicolaus upped their price objective on Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $345.30.

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.