Impax Asset Management Group plc Grows Position in Watts Water Technologies Inc (WTS)

Impax Asset Management Group plc lifted its position in Watts Water Technologies Inc (NYSE:WTS) by 5.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,529,189 shares of the technology company’s stock after purchasing an additional 122,256 shares during the quarter. Watts Water Technologies accounts for about 2.7% of Impax Asset Management Group plc’s holdings, making the stock its 8th largest holding. Impax Asset Management Group plc owned approximately 7.42% of Watts Water Technologies worth $163,209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Comerica Bank raised its position in Watts Water Technologies by 0.6% during the 4th quarter. Comerica Bank now owns 27,064 shares of the technology company’s stock valued at $1,977,000 after purchasing an additional 162 shares during the last quarter. Piedmont Investment Advisors Inc. raised its position in Watts Water Technologies by 3.2% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,608 shares of the technology company’s stock valued at $426,000 after purchasing an additional 207 shares during the last quarter. ETF Managers Group LLC raised its position in Watts Water Technologies by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 1,677 shares of the technology company’s stock valued at $108,000 after purchasing an additional 228 shares during the last quarter. CAPROCK Group Inc. raised its position in Watts Water Technologies by 5.9% during the 4th quarter. CAPROCK Group Inc. now owns 4,778 shares of the technology company’s stock valued at $308,000 after purchasing an additional 265 shares during the last quarter. Finally, Ledyard National Bank raised its position in Watts Water Technologies by 3.8% during the 4th quarter. Ledyard National Bank now owns 10,235 shares of the technology company’s stock valued at $661,000 after purchasing an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 77.56% of the company’s stock.

Shares of NYSE:WTS opened at $81.27 on Wednesday. Watts Water Technologies Inc has a 52-week low of $61.17 and a 52-week high of $93.35. The company has a market capitalization of $2.74 billion, a PE ratio of 21.73, a PEG ratio of 1.99 and a beta of 1.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.07 and a quick ratio of 1.25.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Thursday, February 7th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.01. Watts Water Technologies had a return on equity of 14.71% and a net margin of 7.97%. The firm had revenue of $387.60 million during the quarter, compared to analyst estimates of $382.33 million. During the same quarter in the prior year, the company earned $0.74 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that Watts Water Technologies Inc will post 4.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, February 28th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 22.46%.

In related news, major shareholder Timothy P. Horne sold 19,324 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $81.00, for a total transaction of $1,565,244.00. Following the completion of the transaction, the insider now owns 29,700 shares of the company’s stock, valued at approximately $2,405,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Timothy P. Horne sold 976 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $81.00, for a total value of $79,056.00. Following the transaction, the insider now directly owns 49,024 shares of the company’s stock, valued at approximately $3,970,944. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,055 shares of company stock valued at $5,707,415. 1.10% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on WTS shares. Janney Montgomery Scott lowered Watts Water Technologies from a “buy” rating to a “neutral” rating and increased their target price for the stock from $81.00 to $83.00 in a research report on Monday, February 11th. Oppenheimer reissued a “hold” rating on shares of Watts Water Technologies in a research report on Monday, February 11th. Finally, Seaport Global Securities raised Watts Water Technologies from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 4th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $89.50.

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About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

See Also: Short Selling

Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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