JPMorgan Chase & Co. increased its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 14.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,258 shares of the technology company’s stock after purchasing an additional 33,197 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.81% of Watts Water Technologies worth $49,471,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY lifted its stake in shares of Watts Water Technologies by 3.5% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,681 shares of the technology company’s stock worth $246,000 after purchasing an additional 57 shares during the last quarter. Spire Wealth Management raised its stake in Watts Water Technologies by 93.5% in the second quarter. Spire Wealth Management now owns 149 shares of the technology company’s stock valued at $27,000 after buying an additional 72 shares during the last quarter. Covestor Ltd raised its stake in Watts Water Technologies by 80.4% in the first quarter. Covestor Ltd now owns 184 shares of the technology company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. HighTower Advisors LLC raised its stake in Watts Water Technologies by 4.1% in the first quarter. HighTower Advisors LLC now owns 2,362 shares of the technology company’s stock valued at $397,000 after buying an additional 92 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Watts Water Technologies by 3.0% in the third quarter. Envestnet Asset Management Inc. now owns 3,286 shares of the technology company’s stock valued at $413,000 after buying an additional 95 shares during the last quarter. 75.06% of the stock is currently owned by hedge funds and other institutional investors.
Watts Water Technologies Stock Up 2.1 %
Shares of WTS stock opened at $196.47 on Friday. The stock’s 50-day simple moving average is $181.79 and its 200-day simple moving average is $180.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.72 and a current ratio of 2.74. The firm has a market capitalization of $6.55 billion, a PE ratio of 23.96, a P/E/G ratio of 3.13 and a beta of 1.00. Watts Water Technologies, Inc. has a fifty-two week low of $141.70 and a fifty-two week high of $199.21.
Watts Water Technologies (NYSE:WTS – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $504.30 million for the quarter, compared to analyst estimates of $497.47 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 13.68%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.79 earnings per share. Equities analysts expect that Watts Water Technologies, Inc. will post 8 earnings per share for the current year.
Watts Water Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, November 30th. Watts Water Technologies’s dividend payout ratio is presently 17.56%.
Analysts Set New Price Targets
WTS has been the subject of a number of research analyst reports. StockNews.com cut Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. TD Cowen increased their price target on Watts Water Technologies from $160.00 to $165.00 and gave the company a “market perform” rating in a research note on Monday, September 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and an average price target of $178.20.
Get Our Latest Stock Analysis on WTS
Watts Water Technologies Profile
Watts Water Technologies, Inc 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. The company offers residential and commercial flow control and protection products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, thermostatic mixing valves, and leak detection and protection products for plumbing and hot water applications.
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