Pinebridge Investments L.P. Acquires 4,433 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Pinebridge Investments L.P. lifted its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,812 shares of the technology company's stock after purchasing an additional 4,433 shares during the period. Pinebridge Investments L.P.'s holdings in Watts Water Technologies were worth $3,011,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. grew its position in shares of Watts Water Technologies by 59.8% in the 4th quarter. UMB Bank n.a. now owns 155 shares of the technology company's stock valued at $32,000 after buying an additional 58 shares during the last quarter. Headlands Technologies LLC lifted its stake in shares of Watts Water Technologies by 329.1% in the fourth quarter. Headlands Technologies LLC now owns 236 shares of the technology company's stock worth $48,000 after acquiring an additional 181 shares during the period. Huntington National Bank increased its position in Watts Water Technologies by 60.5% during the 4th quarter. Huntington National Bank now owns 366 shares of the technology company's stock valued at $74,000 after purchasing an additional 138 shares during the period. Jones Financial Companies Lllp raised its holdings in Watts Water Technologies by 660.3% during the 4th quarter. Jones Financial Companies Lllp now owns 555 shares of the technology company's stock worth $113,000 after purchasing an additional 482 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Watts Water Technologies by 45.2% in the 4th quarter. Farther Finance Advisors LLC now owns 565 shares of the technology company's stock worth $115,000 after purchasing an additional 176 shares during the period. Institutional investors own 95.02% of the company's stock.

Watts Water Technologies Stock Up 0.2 %

Watts Water Technologies stock traded up $0.38 during mid-day trading on Tuesday, reaching $206.64. The stock had a trading volume of 148,203 shares, compared to its average volume of 169,097. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59. Watts Water Technologies, Inc. has a fifty-two week low of $175.37 and a fifty-two week high of $232.60. The stock's 50-day simple moving average is $204.81 and its 200-day simple moving average is $207.01. The firm has a market capitalization of $6.88 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.42 and a beta of 0.95.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. On average, sell-side analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.43 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 0.83%. Watts Water Technologies's payout ratio is 19.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus upgraded shares of Watts Water Technologies from a "hold" rating to a "buy" rating and increased their price objective for the stock from $219.00 to $229.00 in a research report on Wednesday, April 16th. The Goldman Sachs Group raised their price objective on shares of Watts Water Technologies from $197.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $222.00.

Insider Activity at Watts Water Technologies

In other news, insider Elie Melhem sold 4,397 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were 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 owns 10,469 shares in the company, valued at $2,204,038.57. This represents a 29.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

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.