Principal Financial Group Inc. Sells 25,948 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Principal Financial Group Inc. trimmed its position in Watts Water Technologies, Inc. (NYSE:WTSGet Rating) by 19.2% during the second quarter, HoldingsChannel.com reports. The fund owned 109,406 shares of the technology company’s stock after selling 25,948 shares during the quarter. Principal Financial Group Inc.’s holdings in Watts Water Technologies were worth $13,440,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in Watts Water Technologies by 89.5% in the second quarter. Victory Capital Management Inc. now owns 566,767 shares of the technology company’s stock valued at $69,622,000 after buying an additional 267,654 shares in the last quarter. Renaissance Technologies LLC boosted its position in Watts Water Technologies by 188.9% in the first quarter. Renaissance Technologies LLC now owns 230,000 shares of the technology company’s stock valued at $32,106,000 after buying an additional 150,400 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Watts Water Technologies by 161.4% in the first quarter. Goldman Sachs Group Inc. now owns 228,077 shares of the technology company’s stock valued at $31,837,000 after buying an additional 140,834 shares in the last quarter. Invesco Ltd. boosted its position in Watts Water Technologies by 25.2% in the first quarter. Invesco Ltd. now owns 691,779 shares of the technology company’s stock valued at $96,565,000 after buying an additional 139,042 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its position in Watts Water Technologies by 68.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 273,105 shares of the technology company’s stock valued at $33,548,000 after buying an additional 111,375 shares in the last quarter. 75.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Watts Water Technologies from $129.00 to $143.00 and gave the company a “neutral” rating in a research report on Friday, November 4th. StockNews.com assumed coverage on shares of Watts Water Technologies in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Watts Water Technologies from $148.00 to $155.00 in a research report on Monday, November 7th. Finally, Stifel Nicolaus cut their price target on shares of Watts Water Technologies from $133.00 to $132.00 and set a “hold” rating on the stock in a report on Tuesday, October 11th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and a consensus price target of $134.00.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $156.06 on Friday. The firm has a market cap of $5.20 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.81 and a beta of 1.01. The firm’s fifty day moving average is $137.27 and its 200-day moving average is $134.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.36 and a current ratio of 2.47. Watts Water Technologies, Inc. has a 52 week low of $116.31 and a 52 week high of $203.40.

Watts Water Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Wednesday, November 30th. Watts Water Technologies’s dividend payout ratio is presently 18.15%.

About Watts Water Technologies

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Watts Water Technologies, Inc designs, manufactures, and sells products, solution, and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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Institutional Ownership by Quarter for Watts Water Technologies (NYSE:WTS)

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