Watts Water Technologies, Inc. (NYSE:WTS) Stock Position Raised by Pinebridge Investments L.P.

Pinebridge Investments L.P. grew its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 42.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,812 shares of the technology company's stock after purchasing an additional 4,433 shares during the period. Pinebridge Investments L.P.'s holdings in Watts Water Technologies were worth $3,011,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Watts Water Technologies by 4.8% during the third quarter. JPMorgan Chase & Co. now owns 267,439 shares of the technology company's stock valued at $55,411,000 after buying an additional 12,159 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Watts Water Technologies by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 319,703 shares of the technology company's stock valued at $64,996,000 after acquiring an additional 3,296 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Watts Water Technologies by 13.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 71,608 shares of the technology company's stock valued at $14,558,000 after acquiring an additional 8,728 shares in the last quarter. Van ECK Associates Corp grew its position in Watts Water Technologies by 35.2% during the 4th quarter. Van ECK Associates Corp now owns 23,507 shares of the technology company's stock worth $4,779,000 after purchasing an additional 6,125 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Watts Water Technologies by 264.1% during the 4th quarter. SG Americas Securities LLC now owns 6,080 shares of the technology company's stock worth $1,236,000 after purchasing an additional 4,410 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 4,397 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total value of $925,700.41. Following the transaction, the insider now directly owns 10,469 shares of the company's stock, valued at approximately $2,204,038.57. This trade represents a 29.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by company insiders.

Watts Water Technologies Price Performance

WTS opened at $206.82 on Friday. The stock has a fifty day moving average price of $205.06 and a 200 day moving average price of $207.00. 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, Inc. has a 1 year low of $175.37 and a 1 year high of $232.60. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 3.42 and a beta of 0.95.

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

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.83%. Watts Water Technologies's dividend payout ratio is currently 19.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price target on Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, February 12th. Stifel Nicolaus raised Watts Water Technologies from a "hold" rating to a "buy" rating and lifted their target price for the company from $219.00 to $229.00 in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Watts Water Technologies presently has a consensus rating of "Moderate Buy" and a consensus target price of $222.00.

About Watts Water Technologies

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.

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