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

Congress Asset Management Co. trimmed its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 524,330 shares of the technology company’s stock after selling 57,156 shares during the period. Congress Asset Management Co.’s holdings in Watts Water Technologies were worth $106,596,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Watts Water Technologies by 0.9% during the third quarter. State Street Corp now owns 977,000 shares of the technology company’s stock worth $202,425,000 after purchasing an additional 8,314 shares in the last quarter. Geode Capital Management LLC lifted its stake in Watts Water Technologies by 4.3% during the third quarter. Geode Capital Management LLC now owns 741,743 shares of the technology company’s stock worth $153,708,000 after purchasing an additional 30,688 shares in the last quarter. Boston Trust Walden Corp lifted its stake in Watts Water Technologies by 60.3% during the third quarter. Boston Trust Walden Corp now owns 520,189 shares of the technology company’s stock worth $107,778,000 after purchasing an additional 195,778 shares in the last quarter. KBC Group NV lifted its stake in Watts Water Technologies by 6.5% during the fourth quarter. KBC Group NV now owns 323,007 shares of the technology company’s stock worth $65,667,000 after purchasing an additional 19,598 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Watts Water Technologies by 3.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 316,407 shares of the technology company’s stock worth $65,556,000 after purchasing an additional 9,148 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Down 2.8 %

Watts Water Technologies stock opened at $213.89 on Friday. Watts Water Technologies, Inc. has a 1-year low of $175.37 and a 1-year high of $232.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55. The stock has a market cap of $7.13 billion, a PE ratio of 25.65, a P/E/G ratio of 3.39 and a beta of 0.93. The stock’s fifty day moving average is $208.31 and its two-hundred day moving average is $203.59.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. On average, sell-side analysts expect that Watts Water Technologies, Inc. will post 8.73 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, February 28th. Watts Water Technologies’s dividend payout ratio is presently 20.62%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. The Goldman Sachs Group upped their price target on Watts Water Technologies from $197.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday. Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research note on Monday, November 4th. Stifel Nicolaus increased 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. Finally, Deutsche Bank Aktiengesellschaft began coverage on Watts Water Technologies in a research note on Tuesday, December 17th. They issued a “hold” rating and a $240.00 price objective on the stock. Four investment 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, the stock has a consensus rating of “Hold” and a consensus price target of $220.00.

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.