Congress Asset Management Co. Lowers Position in Watts Water Technologies, Inc. (NYSE:WTS)

Congress Asset Management Co. lowered its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 581,486 shares of the technology company's stock after selling 6,474 shares during the period. Congress Asset Management Co. owned approximately 1.74% of Watts Water Technologies worth $120,478,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. State of Michigan Retirement System lifted its stake in shares of Watts Water Technologies by 1.5% in the 1st quarter. State of Michigan Retirement System now owns 6,695 shares of the technology company's stock worth $1,423,000 after acquiring an additional 100 shares during the period. Commonwealth Equity Services LLC increased its position in Watts Water Technologies by 1.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 8,331 shares of the technology company's stock worth $1,771,000 after purchasing an additional 100 shares during the period. Van ECK Associates Corp raised its stake in shares of Watts Water Technologies by 32.0% during the 1st quarter. Van ECK Associates Corp now owns 10,789 shares of the technology company's stock worth $2,293,000 after buying an additional 2,616 shares in the last quarter. Norden Group LLC lifted its holdings in shares of Watts Water Technologies by 6.3% in the 1st quarter. Norden Group LLC now owns 3,274 shares of the technology company's stock valued at $696,000 after buying an additional 195 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in shares of Watts Water Technologies by 0.3% in the first quarter. Retirement Systems of Alabama now owns 34,367 shares of the technology company's stock valued at $7,305,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company's stock.

Watts Water Technologies Price Performance

Shares of Watts Water Technologies stock traded down $7.15 on Thursday, hitting $190.59. The company's stock had a trading volume of 191,051 shares, compared to its average volume of 145,469. The company has a market capitalization of $6.36 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 2.83 and a beta of 0.89. Watts Water Technologies, Inc. has a 52-week low of $171.14 and a 52-week high of $219.52. The firm has a fifty day moving average price of $199.89 and a 200-day moving average price of $197.28. The company has a quick ratio of 1.49, a current ratio of 2.50 and a debt-to-equity ratio of 0.16.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.44% and a return on equity of 19.22%. The company had revenue of $543.60 million for the quarter, compared to the consensus estimate of $541.83 million. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts expect that Watts Water Technologies, Inc. will post 8.7 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, November 29th. Watts Water Technologies's payout ratio is 20.62%.

Insider Transactions at Watts Water Technologies

In related news, insider Elie Melhem sold 1,710 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the sale, the insider now owns 11,516 shares of the company's stock, valued at $2,132,302.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Elie Melhem sold 1,710 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total transaction of $316,623.60. Following the sale, the insider now owns 11,516 shares in the company, valued at approximately $2,132,302.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Dubose sold 315 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares of the company's stock, valued at $512,237.15. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. StockNews.com raised Watts Water Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Stifel Nicolaus lowered their target price on shares of Watts Water Technologies from $217.00 to $202.00 and set a "hold" rating on the stock in a research report on Friday, August 9th. Finally, Robert W. Baird dropped their target price on shares of Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating for the company in a report on Friday, August 9th.

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.