Markel Group Inc. Acquires 3,377 Shares of Watts Water Technologies, Inc. $WTS

Markel Group Inc. acquired a new stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,377 shares of the technology company’s stock, valued at approximately $1,196,000.

Several other hedge funds have also recently made changes to their positions in WTS. Provenance Wealth Advisors LLC acquired a new position in shares of Watts Water Technologies in the 3rd quarter valued at $37,000. NewEdge Advisors LLC raised its stake in Watts Water Technologies by 769.2% in the 2nd quarter. NewEdge Advisors LLC now owns 113 shares of the technology company’s stock worth $44,000 after acquiring an additional 100 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Watts Water Technologies during the 3rd quarter worth about $54,000. Assetmark Inc. lifted its position in Watts Water Technologies by 211.3% during the 1st quarter. Assetmark Inc. now owns 165 shares of the technology company’s stock worth $48,000 after acquiring an additional 112 shares during the period. Finally, Costello Asset Management INC lifted its position in Watts Water Technologies by 900.0% during the 1st quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock worth $87,000 after acquiring an additional 270 shares during the period. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Stock Up 1.2%

Shares of NYSE WTS opened at $359.42 on Wednesday. The company’s 50-day simple moving average is $356.88 and its 200-day simple moving average is $331.73. Watts Water Technologies, Inc. has a 52-week low of $260.00 and a 52-week high of $394.54. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 3.45 and a beta of 1.13. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business had revenue of $763.20 million during the quarter, compared to analysts’ expectations of $725.99 million. During the same quarter in the previous year, the company earned $3.09 earnings per share. The company’s quarterly revenue was up 18.6% on a year-over-year basis. Equities analysts predict that Watts Water Technologies, Inc. will post 12.87 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 22.01%.

Insider Activity

In other Watts Water Technologies news, insider Elie Melhem sold 1,096 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $359.55, for a total transaction of $394,066.80. Following the completion of the transaction, the insider owned 7,867 shares of the company’s stock, valued at $2,828,579.85. This represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph T. Noonan sold 3,650 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WTS has been the topic of several research analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $417.00 price target on shares of Watts Water Technologies in a research note on Wednesday, October 14th. Stifel Nicolaus set a $445.00 price objective on Watts Water Technologies in a research note on Monday, October 19th. Wall Street Zen downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Robert W. Baird set a $405.00 target price on Watts Water Technologies in a report on Friday, August 7th. Finally, Weiss Ratings upgraded Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $371.90.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.