Bank of New York Mellon Corp Buys 4,038 Shares of Watts Water Technologies, Inc. $WTS

Bank of New York Mellon Corp raised its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 242,300 shares of the technology company’s stock after acquiring an additional 4,038 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.73% of Watts Water Technologies worth $59,579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of WTS. Johnson Investment Counsel Inc. raised its holdings in shares of Watts Water Technologies by 0.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 9,416 shares of the technology company’s stock worth $2,315,000 after purchasing an additional 71 shares during the period. Mackenzie Financial Corp increased its position in Watts Water Technologies by 2.0% in the first quarter. Mackenzie Financial Corp now owns 4,172 shares of the technology company’s stock worth $851,000 after buying an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Watts Water Technologies by 156.9% in the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock valued at $32,000 after buying an additional 80 shares during the period. Ables Iannone Moore & Associates Inc. lifted its position in shares of Watts Water Technologies by 2.3% during the 2nd quarter. Ables Iannone Moore & Associates Inc. now owns 4,045 shares of the technology company’s stock valued at $995,000 after buying an additional 90 shares during the last quarter. Finally, Securian Asset Management Inc. grew its stake in shares of Watts Water Technologies by 5.0% during the 1st quarter. Securian Asset Management Inc. now owns 2,119 shares of the technology company’s stock worth $432,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insider Buying and Selling

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following the transaction, the director directly owned 1,194 shares in the company, valued at $327,693.30. This represents a 37.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $276.00 on Tuesday. The company has a 50 day moving average of $277.65 and a 200 day moving average of $259.07. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. The stock has a market cap of $9.21 billion, a P/E ratio of 29.68, a P/E/G ratio of 3.27 and a beta of 1.17. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $287.89.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.21. The business had revenue of $611.70 million for the quarter, compared to analysts’ expectations of $576.20 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.03 EPS. Watts Water Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.08 annualized dividend and a yield of 0.8%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 21.47%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WTS. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings reiterated a “buy (b+)” rating on shares of Watts Water Technologies in a research note on Tuesday, October 14th. Barclays upped their price target on shares of Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Stifel Nicolaus boosted their target price on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $264.25.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, 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.