Allspring Global Investments Holdings LLC Sells 8,426 Shares of Watts Water Technologies, Inc. $WTS

Allspring Global Investments Holdings LLC reduced its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 28,153 shares of the technology company's stock after selling 8,426 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Watts Water Technologies worth $8,249,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WTS. Wexford Capital LP bought a new stake in shares of Watts Water Technologies in the 3rd quarter valued at about $26,000. Acumen Wealth Advisors LLC bought a new position in shares of Watts Water Technologies during the fourth quarter worth about $28,000. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies during the third quarter worth about $29,000. Clearstead Advisors LLC lifted its stake in shares of Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company's stock worth $29,000 after acquiring an additional 43 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Watts Water Technologies in the fourth quarter worth approximately $29,000. Institutional investors own 95.02% of the company's stock.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, Director Michael J. Dubose sold 398 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the transaction, the director owned 1,814 shares in the company, valued at approximately $561,668.82. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elie Melhem sold 2,257 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider directly owned 8,963 shares in the company, valued at $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WTS. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Stifel Nicolaus boosted their price target on shares of Watts Water Technologies from $379.00 to $403.00 and gave the stock a "buy" rating in a research report on Monday. KeyCorp upped their price objective on shares of Watts Water Technologies from $360.00 to $380.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Royal Bank Of Canada upped their price objective on shares of Watts Water Technologies from $323.00 to $350.00 and gave the company a "sector perform" rating in a research note on Thursday, July 16th. Finally, TD Cowen increased their price objective on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $345.30.

Watts Water Technologies Stock Up 0.4%

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

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same period in the previous year, the firm posted $2.37 earnings per share. The business's revenue was up 21.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Watts Water Technologies, Inc. will post 12.23 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

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

About Watts Water Technologies

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.

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