Congress Asset Management Co. Sells 6,474 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Congress Asset Management Co. decreased its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 581,486 shares of the technology company’s stock after selling 6,474 shares during the quarter. Congress Asset Management Co.’s holdings in Watts Water Technologies were worth $120,478,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WTS. HWG Holdings LP purchased a new position in shares of Watts Water Technologies in the second quarter valued at $28,000. V Square Quantitative Management LLC bought a new position in shares of Watts Water Technologies in the third quarter worth $30,000. Gradient Investments LLC purchased a new position in shares of Watts Water Technologies during the second quarter worth about $31,000. Blue Trust Inc. raised its position in shares of Watts Water Technologies by 520.5% during the 2nd quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock valued at $50,000 after buying an additional 229 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Watts Water Technologies during the 1st quarter valued at about $53,000. Institutional investors own 95.02% of the company’s stock.

Insiders Place Their Bets

In other news, insider Elie Melhem sold 1,710 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the completion of the transaction, the insider now owns 11,516 shares of the company’s stock, valued at $2,132,302.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $185.16, for a total value of $316,623.60. Following the transaction, the insider now owns 11,516 shares of the company’s stock, valued at $2,132,302.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares of the company’s stock, valued at $512,237.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WTS has been the topic of a number of recent research reports. Robert W. Baird decreased their price objective on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Stifel Nicolaus dropped their target price on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, StockNews.com upgraded Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Friday, August 16th.

Watts Water Technologies Stock Performance

NYSE WTS traded down $4.67 during trading hours on Thursday, hitting $193.07. 13,096 shares of the company’s stock traded hands, compared to its average volume of 144,626. The firm has a market capitalization of $6.44 billion, a P/E ratio of 24.00, a P/E/G ratio of 2.83 and a beta of 0.89. The company has a current ratio of 2.50, a quick ratio of 1.49 and a debt-to-equity ratio of 0.16. The business’s fifty day moving average price is $199.89 and its two-hundred day moving average price is $197.28. Watts Water Technologies, Inc. has a 52 week low of $171.14 and a 52 week high of $219.52.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.44% and a return on equity of 19.22%. The firm had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.83 million. During the same period in the prior year, the company earned $2.04 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Watts Water Technologies, Inc. will post 8.7 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.89%. Watts Water Technologies’s dividend payout ratio is presently 20.87%.

Watts Water Technologies Company 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.