BlackRock Amends Watts Water Stake to 9.2% as of Dec 31, 2023
Ticker: WTS · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 795403
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns 9.2% of Watts Water as of year-end 2023, signaling continued institutional confidence.**
AI Summary
BlackRock Inc. filed an amended Schedule 13G/A on January 23, 2024, indicating a change in its ownership stake in Watts Water Technologies Inc. As of December 31, 2023, BlackRock reported beneficial ownership of 3,066,975 shares of Class A Common Stock, representing 9.2% of the company. This is an update from a previous filing, showing BlackRock continues to be a significant institutional holder, which matters to investors as large institutional ownership can signal confidence in the company's long-term prospects.
Why It Matters
This filing shows BlackRock, a major institutional investor, maintains a substantial stake in Watts Water Technologies, which can be seen as a vote of confidence in the company's stability and future performance.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and risk for other shareholders.
Analyst Insight
An investor should note BlackRock's continued significant stake as a potential indicator of long-term institutional confidence in Watts Water Technologies, but should also conduct their own due diligence on the company's fundamentals.
Key Numbers
- 3,066,975 — Shares Beneficially Owned (Represents BlackRock's total ownership in Watts Water Technologies Inc. as of December 31, 2023.)
- 9.2% — Percentage of Class A Common Stock (Indicates BlackRock's significant stake in Watts Water Technologies Inc., showing a substantial institutional investment.)
- December 31, 2023 — Date of Event (The specific date for which the ownership data is reported, providing a clear snapshot of BlackRock's position.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Watts Water Technologies Inc. (company) — the subject company in which BlackRock holds shares
- 3,066,975 shares (dollar_amount) — the number of Class A Common Stock shares beneficially owned by BlackRock
- 9.2% (dollar_amount) — the percentage of Class A Common Stock beneficially owned by BlackRock
- December 31, 2023 (person) — the date of the event requiring the filing
- January 23, 2024 (person) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will likely maintain a significant stake in Watts Water Technologies Inc. throughout 2024. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
What type of filing is this document and what does it signify?
This document is an SC 13G/A, which is an amendment to a Schedule 13G. It signifies that BlackRock Inc., a large institutional investor, is updating its previously reported beneficial ownership stake in Watts Water Technologies Inc.
Who is the reporting person in this filing and who is the subject company?
The reporting person is BlackRock Inc., and the subject company is Watts Water Technologies Inc., identified by CIK 0000795403.
What was BlackRock's beneficial ownership percentage in Watts Water Technologies Inc. as of the event date?
As of December 31, 2023, BlackRock Inc. beneficially owned 9.2% of the Class A Common Stock of Watts Water Technologies Inc.
How many shares of Class A Common Stock did BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owned 3,066,975 shares of Class A Common Stock of Watts Water Technologies Inc.
When was this amendment filed and what was the date of the event requiring the filing?
This amendment was filed on January 23, 2024, and the date of the event which required the filing was December 31, 2023.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 by December 31, 2023 regarding WATTS WATER TECHNOLOGIES INC (WTS).