Congress Wealth Management LLC DE Cuts Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Congress Wealth Management LLC DE lessened its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,863 shares of the technology company’s stock after selling 1,279 shares during the period. Congress Wealth Management LLC DE’s holdings in Watts Water Technologies were worth $13,187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WTS. UMB Bank n.a. grew its holdings in shares of Watts Water Technologies by 59.8% during the 4th quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock worth $32,000 after purchasing an additional 58 shares during the period. Jones Financial Companies Lllp grew its stake in Watts Water Technologies by 660.3% during the fourth quarter. Jones Financial Companies Lllp now owns 555 shares of the technology company’s stock worth $113,000 after buying an additional 482 shares during the period. Farther Finance Advisors LLC increased its position in shares of Watts Water Technologies by 45.2% in the fourth quarter. Farther Finance Advisors LLC now owns 565 shares of the technology company’s stock worth $115,000 after acquiring an additional 176 shares in the last quarter. Leavell Investment Management Inc. purchased a new position in shares of Watts Water Technologies in the 4th quarter valued at $205,000. Finally, Quantinno Capital Management LP acquired a new position in shares of Watts Water Technologies during the 3rd quarter valued at $231,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Watts Water Technologies in a report on Tuesday, December 17th. They issued a “hold” rating and a $240.00 price target for the company. The Goldman Sachs Group raised their target price on Watts Water Technologies from $197.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus upped their price target on Watts Water Technologies from $218.00 to $219.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $220.00.

Watts Water Technologies Stock Up 2.8 %

Shares of NYSE WTS opened at $212.69 on Tuesday. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 3.42 and a beta of 0.93. 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 0.12, a quick ratio of 1.65 and a current ratio of 2.59. The stock’s 50-day simple moving average is $211.22 and its 200-day simple moving average is $207.61.

Watts Water Technologies (NYSE:WTS) 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, equities analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Friday, February 28th. Watts Water Technologies’s payout ratio is currently 19.79%.

Insider Activity

In other news, insider Elie Melhem sold 4,397 shares of the business’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 completion of the sale, the insider now directly owns 10,469 shares in the company, valued at approximately $2,204,038.57. The trade was a 29.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.