Impax Asset Management Discloses 1.4M Share Stake in Watts Water Tech
Ticker: WTS · Form: SC 13G · Filed: Jan 18, 2024 · CIK: 795403
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, passive-investment
TL;DR
**Impax Asset Management just revealed a big stake in Watts Water Technologies, signaling institutional confidence.**
AI Summary
Impax Asset Management Group plc, a UK-based investment firm, reported on January 18, 2024, that it beneficially owns 1,408,170 shares of Watts Water Technologies Inc. common stock as of December 29, 2023. This represents a significant stake, giving Impax sole voting and dispositive power over these shares. This matters to investors because a large institutional holder like Impax taking a substantial position can signal confidence in the company's future prospects, potentially influencing other investors and the stock price.
Why It Matters
This filing shows a major institutional investor, Impax Asset Management, has taken a significant position in Watts Water Technologies, which can be seen as a vote of confidence in the company.
Risk Assessment
Risk Level: low — This filing indicates a large institutional investment, which generally reduces perceived risk by showing external validation of the company's value.
Analyst Insight
A smart investor would research Impax Asset Management's investment philosophy and track record to understand the potential implications of their significant stake in Watts Water Technologies Inc., and consider if this aligns with their own investment strategy.
Key Numbers
- 1,408,170 — Shares Beneficially Owned (Represents the total number of Watts Water Technologies Inc. common stock shares Impax Asset Management Group plc has sole voting and dispositive power over.)
Key Players & Entities
- Impax Asset Management Group plc (company) — the reporting person and beneficial owner
- Watts Water Technologies Inc (company) — the subject company whose shares are being reported
- 1,408,170 (dollar_amount) — number of shares beneficially owned
- December 29, 2023 (date) — date of the event requiring the filing
- January 18, 2024 (date) — date the SC 13G filing was made
Forward-Looking Statements
- Other institutional investors may increase their positions in Watts Water Technologies Inc. following Impax Asset Management's disclosure. (Watts Water Technologies Inc.) — medium confidence, target: Within 6 months
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is Impax Asset Management Group plc, a company incorporated in the United Kingdom.
What is the subject company whose shares are being reported?
The subject company is Watts Water Technologies Inc., with CIK 0000795403 and CUSIP 942749102.
How many shares of Watts Water Technologies Inc. does Impax Asset Management Group plc beneficially own?
Impax Asset Management Group plc beneficially owns 1,408,170 shares of Watts Water Technologies Inc. common stock.
What is the 'Date of Event which Requires Filing of this Statement'?
The date of the event which requires filing of this statement is December 29, 2023.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 18, 2024 regarding WATTS WATER TECHNOLOGIES INC (WTS).