BlackRock Inc. Cuts Stake in Watts Water Technologies Inc (WTS)


Fintel reports that BlackRock Inc.
has filed a 13G/A form
with the SEC disclosing ownership of
4,286,847
shares of Watts Water Technologies Inc (WTS).

This represents 15.7% of the company.

In their previous filing dated January 27, 2022
they reported 4,897,734 shares and 17.80% of the company,
a decrease in shares of 12.47%
and
a decrease in total ownership of 2.10%
(calculated as current – previous percent ownership).

Analyst Price Forecast Suggests -6.93% Downside

As of January 24, 2023,
the average one-year price target for Watts Water Technologies is $143.21.
The forecasts range from a low of $121.20 to a high of $157.50.
The average price target represents a decrease of -6.93% from its latest reported closing price of $153.87.

The projected annual revenue for Watts Water Technologies is $1,979MM, an increase of 1.41%.
The projected annual EPS is $6.89, an increase of 3.75%.

Fund Sentiment

There are 646 funds or institutions reporting positions in Watts Water Technologies Inc.
This is a decrease
of
23
owner(s) or 3.44%.

Average portfolio weight of all funds dedicated to Watts Water Technologies Inc is 0.1835%,
an increase
of 4.0871%.

Total shares owned by institutions increased
in the last three months by 0.35% to 28,840,798 shares.

What are large shareholders doing?

Kayne Anderson Rudnick Investment Management Llc
holds 2,119,055 shares

representing 6.36% ownership of the company.

In it’s prior filing, the firm reported owning 2,158,692 shares, representing
a decrease
of 1.87%.

The firm

decreased

its portfolio allocation in WTS by 22.49% over the last quarter.

Impax Asset Management Group plc
holds 1,913,584 shares

representing 5.75% ownership of the company.

In it’s prior filing, the firm reported owning 1,901,674 shares, representing
an increase
of 0.62%.

The firm

increased

its portfolio allocation in WTS by 8.61% over the last quarter.

Mirova US LLC
holds 646,281 shares

representing 1.94% ownership of the company.

In it’s prior filing, the firm reported owning 648,600 shares, representing
a decrease
of 0.36%.

The firm

increased

its portfolio allocation in WTS by 10.62% over the last quarter.

Gamco Investors, Inc. Et Al
holds 618,643 shares

representing 1.86% ownership of the company.

In it’s prior filing, the firm reported owning 630,528 shares, representing
a decrease
of 1.92%.

The firm

increased

its portfolio allocation in WTS by 7.86% over the last quarter.

Victory Capital Management Inc
holds 608,772 shares

representing 1.83% ownership of the company.

In it’s prior filing, the firm reported owning 566,767 shares, representing
an increase
of 6.90%.

The firm

decreased

its portfolio allocation in WTS by 15.02% over the last quarter.

Watts Water Technologies Declares $$0.30 Dividend

Watts Water Technologies said on November 1, 2022 that its board of directors declared a regular
quarterly dividend
of $0.30 per share.
Shareholders of record as of November 30, 2022
received the payment on December 15, 2022.
Previously, the company paid $0.30 per share.

At the most recent share price of $153.87 / share,
the stock’s dividend yield is 0.19%.

Additionally, the company’s dividend payout ratio is 0.18,
indicating it is retaining a low percentage
of its earnings to reinvest in growth opportunities.

The company’s 3-Year dividend growth rate is 0.30%,
demonstrating that it consistently increased its dividends over time.

Watts Water Technologies, Inc. Background Information
(This description is provided by the company.)

Watts Water Technologies, Inc., through its family of companies, is a global manufacturer headquartered in the USA that provides one of the broadest plumbing, heating, and water quality product lines in the world. Watts Water companies and brands offer innovative plumbing, heating, and water quality solutions for residential, commercial, and industrial applications. The company employs 4,800 people across 27 countries.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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