Trading Report: The Principal Financial Group Inc. Increases Stake in Watts Water Technologies Inc. (WTS)

The Principal Financial Group Inc. Increases Stake in Watts Water Technologies Inc. (WTS)

Principal Financial Group Inc. raised its stake in Watts Water Technologies Inc. (NYSE:WTS) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,765 shares of the company’s stock after buying an additional 3,644 shares during the period. Principal Financial Group Inc. owned 0.58% of Watts Water Technologies worth $11,639,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of WTS. Impax Asset Management LTD raised its position in shares of Watts Water Technologies by 5.3% in the second quarter. Impax Asset Management LTD now owns 1,597,537 shares of the company’s stock valued at $93,073,000 after buying an additional 79,740 shares during the last quarter. State Street Corp raised its position in shares of Watts Water Technologies by 1.8% in the first quarter. State Street Corp now owns 535,444 shares of the company’s stock valued at $29,526,000 after buying an additional 9,327 shares during the last quarter. Pictet Asset Management Ltd. acquired a new position in shares of Watts Water Technologies during the first quarter valued at about $25,972,000. Adage Capital Partners GP L.L.C. raised its position in shares of Watts Water Technologies by 45.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 461,456 shares of the company’s stock valued at $25,440,000 after buying an additional 144,747 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Watts Water Technologies by 4.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 460,000 shares of the company’s stock valued at $26,800,000 after buying an additional 20,000 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.

Shares of Watts Water Technologies Inc. (NYSE:WTS) traded down 1.40% during mid-day trading on Thursday, hitting $62.12. 1,819 shares of the stock were exchanged. The stock’s market cap is $2.12 billion. Watts Water Technologies Inc. has a 12 month low of $44.51 and a 12 month high of $66.00. The stock’s 50 day moving average is $63.88 and its 200-day moving average is $59.84.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. The firm earned $371.10 million during the quarter, compared to the consensus estimate of $367.14 million. Watts Water Technologies had a positive return on equity of 11.85% and a negative net margin of 6.88%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. On average, analysts anticipate that Watts Water Technologies Inc. will post $2.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.14%. Watts Water Technologies’s payout ratio is currently -25.35%.

Several analysts recently commented on the stock. Janney Montgomery Scott assumed coverage on shares of Watts Water Technologies in a research report on Friday, September 16th. They set a “neutral” rating and a $63.00 price objective on the stock. TheStreet raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, June 16th. Finally, Northcoast Research assumed coverage on shares of Watts Water Technologies in a research report on Friday, July 8th. They set a “neutral” rating on the stock. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $61.40.

In other Watts Water Technologies news, General Counsel Kenneth Robert Lepage sold 31,362 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $64.53, for a total value of $2,023,789.86. Following the completion of the transaction, the general counsel now directly owns 75,727 shares in the company, valued at $4,886,663.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elie Melhem sold 5,192 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $62.44, for a total transaction of $324,188.48. Following the completion of the transaction, the insider now owns 32,656 shares of the company’s stock, valued at $2,039,040.64. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

About Watts Water Technologies

Related posts

Leave a Comment