Assenagon Asset Management S.A. Purchases 29,942 Shares of Watts Water Technologies, Inc. $WTS

Assenagon Asset Management S.A. grew its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 122.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,381 shares of the technology company’s stock after acquiring an additional 29,942 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of Watts Water Technologies worth $15,010,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WTS. Wexford Capital LP acquired a new position in shares of Watts Water Technologies during the 3rd quarter worth about $26,000. Advisory Services Network LLC acquired a new stake in shares of Watts Water Technologies in the third quarter valued at about $29,000. Stance Capital LLC acquired a new stake in shares of Watts Water Technologies in the third quarter valued at about $62,000. Allworth Financial LP raised its holdings in Watts Water Technologies by 29.7% during the third quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock worth $71,000 after acquiring an additional 58 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Watts Water Technologies by 31.6% during the third quarter. GAMMA Investing LLC now owns 258 shares of the technology company’s stock worth $72,000 after acquiring an additional 62 shares in the last quarter. 95.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WTS has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price target on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. HSBC initiated coverage on Watts Water Technologies in a research note on Tuesday, January 27th. They set a “buy” rating on the stock. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. Royal Bank Of Canada boosted their target price on shares of Watts Water Technologies from $288.00 to $337.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $339.00 price target on shares of Watts Water Technologies in a research report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $334.11.

Insider Buying and Selling at Watts Water Technologies

In other news, General Counsel Kenneth Robert Lepage sold 5,025 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the transaction, the general counsel directly owned 12,284 shares of the company’s stock, valued at approximately $3,944,146.72. This trade represents a 29.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the transaction, the chief executive officer directly owned 191,202 shares in the company, valued at $62,582,326.62. This represents a 7.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,674 shares of company stock valued at $9,669,838 in the last quarter. Company insiders own 1.00% of the company’s stock.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $290.62 on Friday. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 2.70 and a beta of 1.23. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The stock’s 50 day moving average is $309.84 and its 200-day moving average is $288.91.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business had revenue of $625.10 million during the quarter, compared to analysts’ expectations of $610.40 million. During the same period last year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.52 dividend. The ex-dividend date was Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 2.1%. Watts Water Technologies’s dividend payout ratio is 20.45%.

Watts Water Technologies Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.