Acadian Asset Management LLC acquired a new position in Watts Water Technologies Inc (NYSE:WTS) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,899 shares of the technology company’s stock, valued at approximately $557,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in shares of Watts Water Technologies by 35.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 26,295 shares of the technology company’s stock worth $1,697,000 after acquiring an additional 6,826 shares during the period. Rhumbline Advisers grew its holdings in shares of Watts Water Technologies by 1.2% in the first quarter. Rhumbline Advisers now owns 85,288 shares of the technology company’s stock worth $6,893,000 after acquiring an additional 1,015 shares during the period. Oregon Public Employees Retirement Fund bought a new stake in shares of Watts Water Technologies in the fourth quarter worth $681,000. Xact Kapitalforvaltning AB grew its holdings in shares of Watts Water Technologies by 18.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 8,444 shares of the technology company’s stock worth $545,000 after acquiring an additional 1,300 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Watts Water Technologies by 4.3% in the fourth quarter. Principal Financial Group Inc. now owns 270,393 shares of the technology company’s stock worth $17,449,000 after acquiring an additional 11,154 shares during the period. 75.82% of the stock is owned by institutional investors.
NYSE:WTS opened at $88.06 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 debt-to-equity ratio of 0.38, a current ratio of 2.27 and a quick ratio of 1.35. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 2.70 and a beta of 1.17.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, May 30th. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.21. Watts Water Technologies’s payout ratio is currently 24.60%.
Several analysts recently commented on WTS shares. Janney Montgomery Scott raised Watts Water Technologies from a “neutral” rating to a “buy” rating in a report on Monday, May 6th. Zacks Investment Research raised Watts Water Technologies from a “sell” rating to a “hold” rating in a report on Friday, May 24th. ValuEngine raised Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus lifted their price objective on Watts Water Technologies from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Watts Water Technologies has an average rating of “Hold” and an average price target 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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