FIL Ltd raised its holdings in shares of Watts Water Technologies Inc (NYSE:WTS) by 72.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,100 shares of the technology company’s stock after acquiring an additional 5,100 shares during the period. FIL Ltd’s holdings in Watts Water Technologies were worth $978,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Rhumbline Advisers boosted its position in shares of Watts Water Technologies by 20.3% in the fourth quarter. Rhumbline Advisers now owns 84,273 shares of the technology company’s stock worth $5,438,000 after purchasing an additional 14,200 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Watts Water Technologies by 4.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,403 shares of the technology company’s stock worth $1,058,000 after purchasing an additional 670 shares during the period. Victory Capital Management Inc. boosted its position in shares of Watts Water Technologies by 23.2% in the fourth quarter. Victory Capital Management Inc. now owns 969,869 shares of the technology company’s stock worth $62,586,000 after purchasing an additional 182,700 shares during the period. Essex Investment Management Co. LLC boosted its position in shares of Watts Water Technologies by 38.2% in the fourth quarter. Essex Investment Management Co. LLC now owns 13,642 shares of the technology company’s stock worth $880,000 after purchasing an additional 3,774 shares during the period. Finally, Comerica Bank boosted its position in shares of Watts Water Technologies by 0.6% in the fourth quarter. Comerica Bank now owns 27,064 shares of the technology company’s stock worth $1,977,000 after purchasing an additional 162 shares during the period. 75.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:WTS opened at $88.28 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.27 and a quick ratio of 1.35. Watts Water Technologies Inc has a fifty-two week low of $61.17 and a fifty-two week high of $93.35. The firm has a market cap of $2.99 billion, a P/E ratio of 23.60, a P/E/G ratio of 2.72 and a beta of 1.18.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Thursday, May 2nd. The technology company reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Watts Water Technologies had a net margin of 8.10% and a return on equity of 14.93%. The firm had revenue of $388.70 million during the quarter, compared to analyst estimates of $388.77 million. During the same quarter in the prior year, the business earned $0.82 earnings per share. Watts Water Technologies’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts anticipate that Watts Water Technologies Inc will post 4.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.23 per share. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, May 30th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.04%. Watts Water Technologies’s dividend payout ratio is currently 24.60%.

A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Stifel Nicolaus upped their price target on shares of Watts Water Technologies from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. ValuEngine upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Janney Montgomery Scott upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $88.83.

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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.

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

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