Allspring Global Investments Holdings LLC Has $22.39 Million Holdings in Watts Water Technologies, Inc. $WTS

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Watts Water Technologies by 20.4%, holding approximately $22.39 million in shares by the end of the second quarter.
• Analysts have issued mixed ratings on Watts Water Technologies, with an average target price of $253.80 and a current rating of "Hold".
• Watts Water Technologies reported $3.09 EPS for the last quarter, exceeding expectations and marking a 7.8% increase in revenue year-over-year.

Allspring Global Investments Holdings LLC trimmed its position in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 20.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,281 shares of the technology company's stock after selling 22,949 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.27% of Watts Water Technologies worth $22,393,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WTS. Costello Asset Management INC acquired a new stake in Watts Water Technologies during the first quarter worth about $33,000. GAMMA Investing LLC grew its stake in Watts Water Technologies by 80.5% during the first quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock worth $57,000 after buying an additional 124 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Watts Water Technologies during the first quarter worth about $64,000. Caitong International Asset Management Co. Ltd acquired a new stake in Watts Water Technologies during the first quarter worth about $77,000. Finally, Covestor Ltd grew its stake in Watts Water Technologies by 39.1% during the first quarter. Covestor Ltd now owns 423 shares of the technology company's stock worth $87,000 after buying an additional 119 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WTS shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Stifel Nicolaus raised their price target on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wall Street Zen downgraded shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Barclays started coverage on shares of Watts Water Technologies in a research note on Friday, September 19th. They issued an "equal weight" rating and a $287.00 price target on the stock. Finally, Weiss Ratings restated a "buy (b+)" rating on shares of Watts Water Technologies in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $253.80.

Watts Water Technologies Stock Down 0.6%

Watts Water Technologies stock opened at $275.97 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. Watts Water Technologies, Inc. has a 52-week low of $177.59 and a 52-week high of $287.89. The firm has a 50 day moving average price of $277.67 and a two-hundred day moving average price of $248.35. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 3.33 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.41. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The firm had revenue of $643.70 million during the quarter, compared to analyst estimates of $612.15 million. During the same quarter last year, the business earned $2.46 EPS. The company's revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 29th. This represents a $2.08 annualized dividend and a yield of 0.8%. Watts Water Technologies's dividend payout ratio (DPR) is presently 22.37%.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the transaction, the director owned 1,194 shares in the company, valued at approximately $327,693.30. This trade represents a 37.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company's stock.

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.

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