Principal Financial Group Inc. Boosts Holdings in Watts Water Technologies, Inc. (NYSE:WTS)


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Principal Financial Group Inc. boosted its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 244,598 shares of the technology company’s stock after acquiring an additional 16,486 shares during the period. Principal Financial Group Inc. owned 0.73% of Watts Water Technologies worth $29,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Watts Water Technologies by 100.0% during the fourth quarter. JPMorgan Chase & Co. now owns 148,383 shares of the technology company’s stock valued at $18,059,000 after acquiring an additional 74,185 shares during the last quarter. Truist Financial Corp purchased a new stake in Watts Water Technologies during the fourth quarter valued at approximately $273,000. Voloridge Investment Management LLC lifted its position in Watts Water Technologies by 30.4% during the fourth quarter. Voloridge Investment Management LLC now owns 43,194 shares of the technology company’s stock valued at $5,257,000 after acquiring an additional 10,067 shares during the last quarter. Mirova US LLC lifted its position in Watts Water Technologies by 22.6% during the fourth quarter. Mirova US LLC now owns 339,951 shares of the technology company’s stock valued at $41,372,000 after acquiring an additional 62,731 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Watts Water Technologies during the fourth quarter valued at approximately $1,014,000. 75.03% of the stock is owned by institutional investors.

In other news, major shareholder Timothy P. Horne sold 20,000 shares of Watts Water Technologies stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $114.74, for a total value of $2,294,800.00. Also, insider Elie Melhem sold 3,109 shares of Watts Water Technologies stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $115.51, for a total transaction of $359,120.59. Following the completion of the sale, the insider now owns 17,427 shares in the company, valued at approximately $2,012,992.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,543 shares of company stock worth $5,602,109. 1.10% of the stock is owned by company insiders.

A number of research analysts have issued reports on WTS shares. Seaport Global Securities reaffirmed a “neutral” rating on shares of Watts Water Technologies in a report on Thursday, February 11th. Stifel Nicolaus cut shares of Watts Water Technologies from a “buy” rating to a “hold” rating and raised their price target for the stock from $123.00 to $124.00 in a report on Tuesday, December 15th.

NYSE:WTS opened at $117.42 on Thursday. The firm has a market capitalization of $3.95 billion, a P/E ratio of 34.54, a PEG ratio of 4.03 and a beta of 0.93. Watts Water Technologies, Inc. has a 1-year low of $71.01 and a 1-year high of $131.51. The company’s fifty day moving average price is $118.81 and its 200-day moving average price is $117.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.39 and a quick ratio of 1.38.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, February 10th. The technology company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.14. The firm had revenue of $403.40 million for the quarter, compared to analyst estimates of $385.88 million. Watts Water Technologies had a net margin of 7.67% and a return on equity of 13.15%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 earnings per share. Equities analysts anticipate that Watts Water Technologies, Inc. will post 3.47 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were given a dividend of $0.23 per share. The ex-dividend date was Friday, February 26th. This represents a $0.92 annualized dividend and a yield of 0.78%. Watts Water Technologies’s dividend payout ratio is presently 22.60%.

Watts Water Technologies Company Profile

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 commercial and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

Further Reading: Momentum Indicators

Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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