Watts Water Technologies, Inc. (NYSE:WTS) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 13.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,608 shares of the technology company's stock after buying an additional 8,728 shares during the period. Envestnet Asset Management Inc. owned 0.21% of Watts Water Technologies worth $14,558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in Watts Water Technologies in the 4th quarter valued at about $60,887,000. Raymond James Financial Inc. acquired a new stake in shares of Watts Water Technologies in the fourth quarter valued at approximately $23,044,000. Wealthfront Advisers LLC acquired a new stake in shares of Watts Water Technologies in the fourth quarter valued at approximately $9,773,000. Boston Partners lifted 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 buying an additional 44,465 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in Watts Water Technologies by 122.9% during the fourth quarter. Retirement Systems of Alabama now owns 74,194 shares of the technology company's stock worth $15,084,000 after buying an additional 40,912 shares during the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Watts Water Technologies news, insider Elie Melhem sold 4,397 shares of the business's stock in a transaction on 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 transaction, the insider now owns 10,469 shares in the company, valued at $2,204,038.57. The trade was a 29.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WTS shares. Stifel Nicolaus upgraded Watts Water Technologies from a "hold" rating to a "buy" rating and lifted their price target for the stock from $219.00 to $229.00 in a report on Wednesday, April 16th. The Goldman Sachs Group raised their price objective on shares of Watts Water Technologies from $197.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $222.00.

Watts Water Technologies Trading Up 5.8 %

Shares of NYSE:WTS traded up $11.24 during midday trading on Tuesday, reaching $204.50. 333,134 shares of the company's stock were exchanged, compared to its average volume of 168,402. The stock has a market cap of $6.81 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 3.42 and a beta of 0.95. Watts Water Technologies, Inc. has a fifty-two week low of $175.37 and a fifty-two week high of $232.60. The firm's 50 day simple moving average is $205.56 and its two-hundred day simple moving average is $206.97. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65.

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

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, February 28th. Watts Water Technologies's dividend payout ratio is currently 19.79%.

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.