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

Congress Asset Management Co. MA bought a new stake in Watts Water Technologies, Inc. (NYSE:WTS) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 604,321 shares of the technology company’s stock, valued at approximately $125,904,000. Congress Asset Management Co. MA owned about 1.81% of Watts Water Technologies at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Contravisory Investment Management Inc. bought a new position in Watts Water Technologies in the 4th quarter worth approximately $26,000. Allworth Financial LP raised its position in Watts Water Technologies by 47.5% in the 4th quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock worth $36,000 after purchasing an additional 56 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Watts Water Technologies in the 4th quarter worth approximately $39,000. Headinvest LLC bought a new position in Watts Water Technologies in the 3rd quarter worth approximately $41,000. Finally, AdvisorNet Financial Inc raised its position in Watts Water Technologies by 2,857.1% in the 4th quarter. AdvisorNet Financial Inc now owns 207 shares of the technology company’s stock worth $43,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on WTS shares. Robert W. Baird boosted their price objective on shares of Watts Water Technologies from $212.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Stifel Nicolaus boosted their price objective on shares of Watts Water Technologies from $206.00 to $209.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $199.50.

Watts Water Technologies Trading Down 2.5 %

WTS traded down $4.89 during trading on Friday, reaching $187.20. 167,899 shares of the company’s stock were exchanged, compared to its average volume of 151,209. The company’s fifty day moving average price is $202.87 and its 200-day moving average price is $202.89. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.48. Watts Water Technologies, Inc. has a fifty-two week low of $167.87 and a fifty-two week high of $219.52. The firm has a market capitalization of $6.25 billion, a PE ratio of 23.23, a P/E/G ratio of 2.78 and a beta of 0.94.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, May 8th. The technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.22. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. The firm had revenue of $570.90 million during the quarter, compared to analyst estimates of $547.20 million. During the same quarter in the previous year, the business earned $1.92 EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. As a group, equities analysts forecast that Watts Water Technologies, Inc. will post 8.64 EPS for the current year.

Watts Water Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.43 dividend. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.72 annualized dividend and a dividend yield of 0.92%. Watts Water Technologies’s payout ratio is 21.34%.

Insider Activity

In other news, insider Elie Melhem sold 2,051 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $215.51, for a total value of $442,011.01. Following the completion of the transaction, the insider now owns 13,226 shares of the company’s stock, valued at approximately $2,850,335.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Elie Melhem sold 2,051 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $215.51, for a total value of $442,011.01. Following the completion of the transaction, the insider now directly owns 13,226 shares of the company’s stock, valued at approximately $2,850,335.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Shashank Patel sold 1,508 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total transaction of $324,370.80. Following the completion of the transaction, the chief financial officer now directly owns 20,204 shares of the company’s stock, valued at $4,345,880.40. The disclosure for this sale can be found here. Insiders sold 5,753 shares of company stock valued at $1,236,753 in the last quarter. Company insiders own 1.10% of the company’s stock.

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.