NewEdge Wealth LLC Has $3.67 Million Position in Watts Water Technologies, Inc. (NYSE:WTS)

NewEdge Wealth LLC reduced its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,056 shares of the technology company’s stock after selling 412 shares during the quarter. NewEdge Wealth LLC’s holdings in Watts Water Technologies were worth $3,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Watts Water Technologies by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 242,758 shares of the technology company’s stock worth $49,353,000 after purchasing an additional 911 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Watts Water Technologies by 11.2% during the 4th quarter. Handelsbanken Fonder AB now owns 7,944 shares of the technology company’s stock worth $1,615,000 after purchasing an additional 800 shares during the last quarter. Freedom Day Solutions LLC lifted its holdings in Watts Water Technologies by 1.9% during the 4th quarter. Freedom Day Solutions LLC now owns 10,795 shares of the technology company’s stock worth $2,194,000 after purchasing an additional 201 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Watts Water Technologies by 18.4% during the 4th quarter. D.A. Davidson & CO. now owns 2,584 shares of the technology company’s stock worth $525,000 after purchasing an additional 402 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Watts Water Technologies by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 77,364 shares of the technology company’s stock worth $15,728,000 after purchasing an additional 994 shares during the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $214.63 on Friday. The stock’s fifty day moving average price is $208.55 and its two-hundred day moving average price is $205.03. Watts Water Technologies, Inc. has a one year low of $175.37 and a one year high of $232.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65. The firm has a market cap of $7.15 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 3.42 and a beta of 0.93.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts expect that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 annualized dividend and a dividend yield of 0.80%. Watts Water Technologies’s payout ratio is 19.79%.

Wall Street Analysts Forecast Growth

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

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.