Allspring Global Investments Holdings LLC Has $8.25 Million Holdings in Watts Water Technologies, Inc. $WTS

Allspring Global Investments Holdings LLC decreased its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 23.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 28,153 shares of the technology company’s stock after selling 8,426 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Watts Water Technologies were worth $8,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WTS. Wexford Capital LP purchased a new stake in shares of Watts Water Technologies in the third quarter worth approximately $26,000. Acumen Wealth Advisors LLC purchased a new position in shares of Watts Water Technologies during the fourth quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new position in shares of Watts Water Technologies during the third quarter valued at approximately $29,000. Clearstead Advisors LLC grew its holdings in Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after buying an additional 43 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in Watts Water Technologies during the fourth quarter worth $29,000. 95.02% of the stock is owned by institutional investors.

Insider Transactions at Watts Water Technologies

In related news, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the sale, the director owned 1,814 shares in the company, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the sale, the insider directly owned 8,963 shares in the company, valued at approximately $2,697,863. This represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WTS shares. Barclays upgraded Watts Water Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $317.00 to $414.00 in a research note on Tuesday, June 30th. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. KeyCorp increased their target price on shares of Watts Water Technologies from $360.00 to $380.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Finally, Royal Bank Of Canada upped their price objective on shares of Watts Water Technologies from $323.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Watts Water Technologies currently has an average rating of “Hold” and an average price target of $345.30.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock opened at $342.90 on Friday. The business’s fifty day simple moving average is $334.96 and its 200 day simple moving average is $314.35. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Watts Water Technologies, Inc. has a 12 month low of $249.06 and a 12 month high of $394.54. The firm has a market capitalization of $11.45 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 2.95 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same quarter in the prior year, the company earned $2.37 EPS. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, analysts anticipate that Watts Water Technologies, Inc. will post 12.23 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.63 per share. The ex-dividend date was Monday, June 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio is presently 23.06%.

Watts Water Technologies Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.