Oppenheimer Asset Management Inc. Sells 375 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Oppenheimer Asset Management Inc. lowered its position in Watts Water Technologies, Inc. (NYSE:WTS) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,247 shares of the technology company’s stock after selling 375 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Watts Water Technologies were worth $1,677,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue lifted its holdings in Watts Water Technologies by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 3,172 shares of the technology company’s stock valued at $657,000 after buying an additional 215 shares during the period. US Bancorp DE grew its holdings in Watts Water Technologies by 1.2% during the 3rd quarter. US Bancorp DE now owns 9,903 shares of the technology company’s stock worth $2,052,000 after acquiring an additional 122 shares during the period. Van ECK Associates Corp raised its position in shares of Watts Water Technologies by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 17,382 shares of the technology company’s stock worth $3,484,000 after acquiring an additional 4,967 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Watts Water Technologies by 16.5% in the 3rd quarter. QRG Capital Management Inc. now owns 2,201 shares of the technology company’s stock valued at $456,000 after purchasing an additional 312 shares during the period. Finally, Portside Wealth Group LLC boosted its position in shares of Watts Water Technologies by 2.5% during the 3rd quarter. Portside Wealth Group LLC now owns 2,496 shares of the technology company’s stock valued at $517,000 after purchasing an additional 60 shares in the last quarter. 95.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WTS shares. Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Watts Water Technologies in a research report on Tuesday, December 17th. They set a “hold” rating and a $240.00 target price on the stock. The Goldman Sachs Group raised their price target on shares of Watts Water Technologies from $197.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Stifel Nicolaus upped their price objective on shares of Watts Water Technologies from $218.00 to $219.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $220.00.

Watts Water Technologies Stock Performance

NYSE WTS opened at $209.37 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.65 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $208.66 and a 200 day simple moving average of $205.52. Watts Water Technologies, Inc. has a 12-month low of $175.37 and a 12-month high of $232.60. The company has a market cap of $6.98 billion, a P/E ratio of 24.09, a PEG ratio of 3.42 and a beta of 0.93.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Monday, February 10th. The technology company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. Sell-side analysts predict 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 will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.82%. Watts Water Technologies’s dividend payout ratio is presently 19.79%.

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.