Congress Asset Management Co. Sells 57,156 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Congress Asset Management Co. lessened its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 524,330 shares of the technology company's stock after selling 57,156 shares during the quarter. Congress Asset Management Co. owned approximately 1.57% of Watts Water Technologies worth $106,596,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WTS. V Square Quantitative Management LLC acquired a new position in shares of Watts Water Technologies during the 3rd quarter worth $30,000. UMB Bank n.a. increased its position in Watts Water Technologies by 59.8% during the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company's stock worth $32,000 after buying an additional 58 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Watts Water Technologies during the third quarter valued at about $68,000. CWM LLC lifted its position in shares of Watts Water Technologies by 24.4% in the third quarter. CWM LLC now owns 392 shares of the technology company's stock worth $81,000 after buying an additional 77 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Watts Water Technologies by 99.3% during the 3rd quarter. Blue Trust Inc. now owns 544 shares of the technology company's stock worth $113,000 after acquiring an additional 271 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Watts Water Technologies from $218.00 to $219.00 and gave the company a "hold" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Watts Water Technologies in a research note on Tuesday, December 17th. They issued a "hold" rating and a $240.00 price objective for the company. The Goldman Sachs Group raised 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 note on Wednesday, February 12th. Finally, Northcoast Research raised shares of Watts Water Technologies from a "neutral" rating to a "buy" rating and set a $225.00 target price for the company in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $220.00.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock traded up $0.22 during midday trading on Wednesday, hitting $218.45. The company had a trading volume of 147,954 shares, compared to its average volume of 176,779. Watts Water Technologies, Inc. has a 1-year low of $175.37 and a 1-year high of $232.60. The business's 50 day simple moving average is $208.20 and its two-hundred day simple moving average is $203.75. The stock has a market cap of $7.28 billion, a PE ratio of 25.14, a P/E/G ratio of 3.33 and a beta of 0.93. 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 posted its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) 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, equities analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 0.79%. Watts Water Technologies's dividend payout ratio (DPR) is 19.79%.

Watts Water Technologies 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.