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

Congress Asset Management Co. lowered its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 1.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 581,486 shares of the technology company’s stock after selling 6,474 shares during the quarter. Congress Asset Management Co. owned 1.74% of Watts Water Technologies worth $120,478,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of WTS. HWG Holdings LP bought a new position in Watts Water Technologies during the second quarter valued at about $28,000. V Square Quantitative Management LLC bought a new stake in Watts Water Technologies during the 3rd quarter worth approximately $30,000. Gradient Investments LLC acquired a new stake in shares of Watts Water Technologies in the second quarter valued at $31,000. Blue Trust Inc. raised its stake in shares of Watts Water Technologies by 520.5% in the second quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock worth $50,000 after acquiring an additional 229 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Watts Water Technologies in the first quarter valued at about $53,000. Institutional investors own 95.02% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Watts Water Technologies news, Director Michael J. Dubose sold 315 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the transaction, the director now directly owns 2,755 shares of the company’s stock, valued at $512,237.15. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the sale, the insider now owns 11,516 shares of the company’s stock, valued at approximately $2,132,302.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares in the company, valued at approximately $512,237.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Watts Water Technologies Trading Down 2.4 %

Shares of Watts Water Technologies stock traded down $4.67 during trading hours on Thursday, hitting $193.07. The company’s stock had a trading volume of 13,096 shares, compared to its average volume of 144,626. The stock has a 50 day moving average of $199.89 and a 200 day moving average of $197.28. Watts Water Technologies, Inc. has a 12 month low of $171.14 and a 12 month high of $219.52. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49. The company has a market capitalization of $6.44 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 2.83 and a beta of 0.89.

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

Watts Water Technologies Dividend Announcement

The business 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Friday, November 29th. Watts Water Technologies’s dividend payout ratio is currently 20.87%.

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.