Watts Water Technologies, Inc. $WTS Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its holdings in Watts Water Technologies by a remarkable 2,366.7% in Q2, now owning approximately 153,282 shares valued at $37.69 million.
• The company recently reported $3.09 earnings per share (EPS), surpassing estimates, alongside $643.7 million in revenue—a 7.8% year-over-year increase.
• Watts Water Technologies declared a quarterly dividend of $0.52 per share, with a current payout ratio of 22.37%.

Allianz Asset Management GmbH boosted its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 2,366.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,282 shares of the technology company's stock after purchasing an additional 147,068 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.46% of Watts Water Technologies worth $37,691,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Watts Water Technologies by 1.0% in the first quarter. Principal Financial Group Inc. now owns 78,159 shares of the technology company's stock worth $15,938,000 after purchasing an additional 795 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Watts Water Technologies by 13.9% during the first quarter. QRG Capital Management Inc. now owns 2,869 shares of the technology company's stock valued at $585,000 after acquiring an additional 350 shares during the period. KBC Group NV boosted its holdings in shares of Watts Water Technologies by 0.5% during the first quarter. KBC Group NV now owns 324,669 shares of the technology company's stock valued at $66,207,000 after acquiring an additional 1,662 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Watts Water Technologies by 80.5% during the first quarter. GAMMA Investing LLC now owns 278 shares of the technology company's stock valued at $57,000 after acquiring an additional 124 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Watts Water Technologies by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 3,207 shares of the technology company's stock valued at $653,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 95.02% of the company's stock.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $276.10 on Friday. The firm has a 50-day moving average of $277.94 and a two-hundred day moving average of $249.11. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 3.30 and a beta of 1.13. Watts Water Technologies, Inc. has a twelve month low of $177.59 and a twelve month high of $287.89.

Watts Water Technologies (NYSE:WTS - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $643.70 million for the quarter, compared to the consensus estimate of $612.15 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.46 EPS. As a group, analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently disclosed 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. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, August 29th. Watts Water Technologies's payout ratio is presently 22.37%.

Wall Street Analysts Forecast Growth

WTS has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Barclays initiated coverage on shares of Watts Water Technologies in a report on Friday, September 19th. They set an "equal weight" rating and a $287.00 price target for the company. Weiss Ratings reissued a "buy (b+)" rating on shares of Watts Water Technologies in a report on Tuesday, October 14th. Wall Street Zen raised shares of Watts Water Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Stifel Nicolaus boosted their price target on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Watts Water Technologies presently has an average rating of "Hold" and a consensus target price of $253.80.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total transaction of $195,682.85. Following the sale, the director owned 1,194 shares in the company, valued at approximately $327,693.30. The trade was a 37.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company's stock.

Watts Water Technologies Company 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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