Bank of New York Mellon Corp Purchases 2,119 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Bank of New York Mellon Corp raised its position in Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) by 0.7% in the 3rd quarter, Holdings Channel reports. The firm owned 289,761 shares of the technology company’s stock after buying an additional 2,119 shares during the quarter. Bank of New York Mellon Corp’s holdings in Watts Water Technologies were worth $36,433,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new stake in Watts Water Technologies during the second quarter valued at $25,000. Covestor Ltd boosted its position in shares of Watts Water Technologies by 80.4% during the 1st quarter. Covestor Ltd now owns 184 shares of the technology company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Watts Water Technologies during the second quarter worth about $32,000. Private Trust Co. NA bought a new position in shares of Watts Water Technologies in the second quarter worth approximately $34,000. Finally, Quadrant Capital Group LLC raised its stake in Watts Water Technologies by 256.3% in the third quarter. Quadrant Capital Group LLC now owns 310 shares of the technology company’s stock valued at $39,000 after purchasing an additional 223 shares in the last quarter. 74.85% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Price Performance

WTS opened at $163.32 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.51 and a quick ratio of 1.52. The stock’s 50 day simple moving average is $165.46 and its 200 day simple moving average is $149.67. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 3.05 and a beta of 1.01. Watts Water Technologies, Inc. has a 1 year low of $116.31 and a 1 year high of $181.40.

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

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Tuesday, February 28th. Watts Water Technologies’s dividend payout ratio (DPR) is 16.04%.

Analysts Set New Price Targets

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

Watts Water Technologies Profile

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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.