Norges Bank Invests $60.89 Million in Watts Water Technologies, Inc. (NYSE:WTS)

Norges Bank purchased a new position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 299,494 shares of the technology company's stock, valued at approximately $60,887,000. Norges Bank owned 0.90% of Watts Water Technologies at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of Watts Water Technologies by 59.8% during the 4th quarter. UMB Bank n.a. now owns 155 shares of the technology company's stock valued at $32,000 after buying an additional 58 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Watts Water Technologies by 660.3% in the fourth quarter. Jones Financial Companies Lllp now owns 555 shares of the technology company's stock valued at $113,000 after acquiring an additional 482 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Watts Water Technologies by 45.2% in the fourth quarter. Farther Finance Advisors LLC now owns 565 shares of the technology company's stock worth $115,000 after acquiring an additional 176 shares during the period. Leavell Investment Management Inc. purchased a new stake in shares of Watts Water Technologies during the fourth quarter worth about $205,000. Finally, Quantinno Capital Management LP purchased a new position in Watts Water Technologies in the 3rd quarter worth approximately $231,000. 95.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WTS has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Watts Water Technologies in a research note on Tuesday, December 17th. They set a "hold" rating and a $240.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $218.00 to $219.00 and gave the company a "hold" rating in a report on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Watts Water Technologies presently has a consensus rating of "Hold" and an average target price of $220.00.

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Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 4,397 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total transaction of $925,700.41. Following the completion of the transaction, the insider now owns 10,469 shares in the company, valued at $2,204,038.57. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Watts Water Technologies Trading Down 1.6 %

WTS stock traded down $2.98 during midday trading on Tuesday, reaching $179.94. 236,898 shares of the company traded hands, compared to its average volume of 164,563. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 3.42 and a beta of 0.95. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $232.60. The business has a 50 day moving average of $208.73 and a 200-day moving average of $207.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. As a group, sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.96%. Watts Water Technologies's dividend payout ratio is presently 19.79%.

Watts Water Technologies Company Profile

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.