Nuveen Asset Management LLC Decreases Position in Watts Water Technologies, Inc. (NYSE:WTS)

Nuveen Asset Management LLC cut its position in Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 81,709 shares of the technology company’s stock after selling 1,298 shares during the period. Nuveen Asset Management LLC owned approximately 0.24% of Watts Water Technologies worth $10,273,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Rhumbline Advisers grew its stake in shares of Watts Water Technologies by 4.0% in the second quarter. Rhumbline Advisers now owns 83,160 shares of the technology company’s stock worth $10,215,000 after acquiring an additional 3,209 shares during the period. Keybank National Association OH grew its position in Watts Water Technologies by 3.5% during the third quarter. Keybank National Association OH now owns 3,654 shares of the technology company’s stock valued at $459,000 after buying an additional 124 shares during the period. Advisors Asset Management Inc. grew its position in Watts Water Technologies by 6.1% during the second quarter. Advisors Asset Management Inc. now owns 21,802 shares of the technology company’s stock valued at $2,678,000 after buying an additional 1,253 shares during the period. MQS Management LLC bought a new stake in Watts Water Technologies during the third quarter valued at approximately $414,000. Finally, Ellevest Inc. grew its position in Watts Water Technologies by 34.0% during the third quarter. Ellevest Inc. now owns 820 shares of the technology company’s stock valued at $103,000 after buying an additional 208 shares during the period. 74.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WTS. Robert W. Baird lifted their price target on shares of Watts Water Technologies from $144.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, February 10th. Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $145.00 to $146.00 and gave the company a “hold” rating in a report on Friday, January 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Watts Water Technologies from a “buy” rating to a “hold” rating and lowered their price target for the company from $155.00 to $150.00 in a report on Tuesday, January 10th. They noted that the move was a valuation call. The Goldman Sachs Group lifted their price target on shares of Watts Water Technologies from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, February 10th. Finally, StockNews.com downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, January 6th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $147.50.

Watts Water Technologies Price Performance

WTS stock opened at $172.21 on Friday. Watts Water Technologies, Inc. has a one year low of $116.31 and a one year high of $181.40. The company’s fifty day moving average price is $164.71 and its 200-day moving average price is $149.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.52 and a current ratio of 2.51. The company has a market capitalization of $5.73 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 3.18 and a beta of 1.01.

Watts Water Technologies (NYSE:WTS – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The technology company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. The company had revenue of $501.90 million for the quarter, compared to the consensus estimate of $489.21 million. Watts Water Technologies had a net margin of 12.70% and a return on equity of 19.75%. Watts Water Technologies’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 earnings per share. On average, equities analysts anticipate that Watts Water Technologies, Inc. will post 6.83 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Tuesday, February 28th. Watts Water Technologies’s payout ratio is 16.04%.

Watts Water Technologies Company Profile

(Get Rating)

Watts Water Technologies, Inc engages in the manufacture and provision of products for water conservation, safety, and flow control. It operates through the following geographic segments: Americas, Europe, and Asia-Pacific, Middle East and Africa. Its services include plumbing and flow control solutions, water quality and conditioning, water reuse and drainage, heating, ventilation, and air conditioning, and municipal waterworks.