Mirova US LLC Raises Stock Position in Watts Water Technologies, Inc. (NYSE:WTS)

Mirova US LLC raised its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 715,674 shares of the technology company’s stock after purchasing an additional 15,462 shares during the quarter. Watts Water Technologies accounts for approximately 1.6% of Mirova US LLC’s investment portfolio, making the stock its 23rd biggest holding. Mirova US LLC owned 2.14% of Watts Water Technologies worth $131,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Congress Asset Management Co. MA purchased a new stake in shares of Watts Water Technologies in the fourth quarter worth about $125,904,000. Allianz Asset Management GmbH boosted its position in Watts Water Technologies by 7.0% in the 4th quarter. Allianz Asset Management GmbH now owns 447,955 shares of the technology company’s stock worth $93,327,000 after purchasing an additional 29,468 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Watts Water Technologies by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 338,378 shares of the technology company’s stock worth $71,924,000 after purchasing an additional 1,049 shares during the period. KBC Group NV increased its holdings in shares of Watts Water Technologies by 14.8% during the 4th quarter. KBC Group NV now owns 295,748 shares of the technology company’s stock valued at $61,616,000 after purchasing an additional 38,110 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Watts Water Technologies by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 295,591 shares of the technology company’s stock valued at $61,583,000 after purchasing an additional 3,292 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WTS. Robert W. Baird lowered their price target on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus lowered their target price on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, StockNews.com upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th.

Insiders Place Their Bets

In other news, insider Elie Melhem sold 1,710 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the transaction, the insider now owns 11,516 shares in the company, valued at $2,132,302.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Michael J. Dubose sold 315 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the transaction, the director now directly owns 2,755 shares in the company, valued at $512,237.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elie Melhem sold 1,710 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the completion of the sale, the insider now owns 11,516 shares of the company’s stock, valued at approximately $2,132,302.56. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Watts Water Technologies Trading Up 1.4 %

Shares of NYSE:WTS opened at $196.70 on Friday. The business’s 50 day moving average price is $190.04 and its 200-day moving average price is $198.18. Watts Water Technologies, Inc. has a 1 year low of $167.87 and a 1 year high of $219.52. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.13. The business had revenue of $597.30 million for the quarter, compared to the consensus estimate of $589.55 million. Watts Water Technologies had a net margin of 12.44% and a return on equity of 19.22%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $2.34 earnings per share. On average, equities research analysts forecast that Watts Water Technologies, Inc. will post 8.71 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, August 30th. Watts Water Technologies’s payout ratio is 21.34%.

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.