JPMorgan Chase & Co. Grows Position in Watts Water Technologies, Inc. (NYSE:WTS)

JPMorgan Chase & Co. lifted its position in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,602 shares of the technology company's stock after purchasing an additional 17,163 shares during the period. JPMorgan Chase & Co. owned about 0.85% of Watts Water Technologies worth $57,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in WTS. Raymond James Financial Inc. acquired a new position in shares of Watts Water Technologies in the fourth quarter worth about $23,044,000. Wealthfront Advisers LLC acquired a new position in Watts Water Technologies in the 4th quarter worth about $9,773,000. Boston Partners boosted its position in Watts Water Technologies by 7.6% during the fourth quarter. Boston Partners now owns 632,155 shares of the technology company's stock worth $128,527,000 after purchasing an additional 44,465 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Watts Water Technologies by 122.9% in the fourth quarter. Retirement Systems of Alabama now owns 74,194 shares of the technology company's stock valued at $15,084,000 after purchasing an additional 40,912 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Watts Water Technologies by 4.3% in the third quarter. Geode Capital Management LLC now owns 741,743 shares of the technology company's stock valued at $153,708,000 after buying an additional 30,688 shares in the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

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Watts Water Technologies Price Performance

WTS stock traded up $14.61 during midday trading on Wednesday, reaching $195.01. The stock had a trading volume of 279,784 shares, compared to its average volume of 165,443. Watts Water Technologies, Inc. has a 52-week low of $175.37 and a 52-week high of $232.60. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 3.42 and a beta of 0.95. The company's fifty day simple moving average is $208.26 and its 200 day simple moving average is $207.57. The company has a current ratio of 2.59, a quick ratio of 1.65 and a debt-to-equity ratio of 0.12.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. As a group, sell-side analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.43 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.88%. Watts Water Technologies's dividend payout ratio (DPR) is presently 19.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Watts Water Technologies in a research report on Tuesday, December 17th. They set a "hold" rating and a $240.00 target price on the stock. The Goldman Sachs Group lifted their target price on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Finally, Stifel Nicolaus upped their price target on shares of Watts Water Technologies from $218.00 to $219.00 and gave the stock a "hold" rating in a research report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Watts Water Technologies has a consensus rating of "Hold" and an average price target of $220.00.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 4,397 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total value of $925,700.41. Following the completion of the sale, the insider now owns 10,469 shares of the company's stock, valued at approximately $2,204,038.57. This represents a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.10% of the company's stock.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.