Geode Capital Management LLC raised its stake in shares of Watts Water Technologies Inc (NYSE:WTS) by 7.7% in the fourth quarter, Holdings Channel reports. The fund owned 293,010 shares of the technology company’s stock after purchasing an additional 20,834 shares during the period. Geode Capital Management LLC’s holdings in Watts Water Technologies were worth $18,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WTS. FMR LLC boosted its stake in shares of Watts Water Technologies by 70.0% in the fourth quarter. FMR LLC now owns 425 shares of the technology company’s stock valued at $27,000 after purchasing an additional 175 shares during the period. Whittier Trust Co. purchased a new position in shares of Watts Water Technologies in the fourth quarter valued at approximately $90,000. ETF Managers Group LLC boosted its stake in shares of Watts Water Technologies by 15.7% in the fourth quarter. ETF Managers Group LLC now owns 1,677 shares of the technology company’s stock valued at $108,000 after purchasing an additional 228 shares during the period. Two Sigma Investments LP purchased a new position in shares of Watts Water Technologies in the fourth quarter valued at approximately $266,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of Watts Water Technologies in the fourth quarter valued at approximately $267,000. Institutional investors and hedge funds own 75.82% of the company’s stock.

Shares of Watts Water Technologies stock opened at $87.99 on Thursday. Watts Water Technologies Inc has a 52-week low of $61.17 and a 52-week high of $93.35. The company has a quick ratio of 1.35, a current ratio of 2.27 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $2.99 billion, a P/E ratio of 23.53, a PEG ratio of 2.70 and a beta of 1.17.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. Watts Water Technologies had a net margin of 8.10% and a return on equity of 14.93%. The company had revenue of $388.70 million during the quarter, compared to the consensus estimate of $388.77 million. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Watts Water Technologies Inc will post 4.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.92 dividend on an annualized basis and a yield of 1.05%. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.21. Watts Water Technologies’s payout ratio is currently 24.60%.

WTS has been the subject of several recent research reports. Janney Montgomery Scott raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research note on Monday, May 6th. Zacks Investment Research raised shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a research note on Friday, May 24th. ValuEngine raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Stifel Nicolaus raised their price objective on shares of Watts Water Technologies from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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