Allspring Global Investments Holdings LLC Trims Stake in Watts Water Technologies, Inc. (NYSE:WTS)

Allspring Global Investments Holdings LLC reduced its position in shares of Watts Water Technologies, Inc. (NYSE:WTSGet Rating) by 26.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,297 shares of the technology company’s stock after selling 1,549 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Watts Water Technologies were worth $540,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in Watts Water Technologies by 0.8% during the 1st quarter. State Street Corp now owns 865,509 shares of the technology company’s stock worth $120,816,000 after purchasing an additional 6,863 shares during the period. Invesco Ltd. increased its holdings in shares of Watts Water Technologies by 25.2% in the 1st quarter. Invesco Ltd. now owns 691,779 shares of the technology company’s stock valued at $96,565,000 after acquiring an additional 139,042 shares during the period. Mirova US LLC increased its holdings in shares of Watts Water Technologies by 6.3% in the 2nd quarter. Mirova US LLC now owns 648,600 shares of the technology company’s stock valued at $79,674,000 after acquiring an additional 38,553 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Watts Water Technologies by 89.5% in the 2nd quarter. Victory Capital Management Inc. now owns 566,767 shares of the technology company’s stock valued at $69,622,000 after acquiring an additional 267,654 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Watts Water Technologies by 29.0% in the 1st quarter. Northern Trust Corp now owns 455,323 shares of the technology company’s stock valued at $63,558,000 after acquiring an additional 102,485 shares during the period. 74.85% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Performance

Shares of WTS opened at $153.87 on Tuesday. The stock has a 50-day moving average of $151.80 and a two-hundred day moving average of $141.78. Watts Water Technologies, Inc. has a one year low of $116.31 and a one year high of $182.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.36 and a current ratio of 2.47. The stock has a market cap of $5.12 billion, a P/E ratio of 23.28, a P/E/G ratio of 2.84 and a beta of 1.01.

Watts Water Technologies (NYSE:WTSGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The technology company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.22. Watts Water Technologies had a return on equity of 19.81% and a net margin of 11.43%. The company had revenue of $487.80 million during the quarter, compared to analysts’ expectations of $476.13 million. As a group, research analysts predict that Watts Water Technologies, Inc. will post 7.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, November 30th. This represents a $1.20 dividend on an annualized basis and a yield of 0.78%. Watts Water Technologies’s dividend payout ratio is currently 18.15%.

Analyst Upgrades and Downgrades

WTS has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on Watts Water Technologies from $129.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, November 4th. Deutsche Bank Aktiengesellschaft cut Watts Water Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $155.00 to $150.00 in a research report on Tuesday, January 10th. They noted that the move was a valuation call. StockNews.com cut Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 6th. Finally, Stifel Nicolaus raised their price objective on Watts Water Technologies from $145.00 to $146.00 and gave the stock a “hold” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $135.80.

Watts Water Technologies Company Profile

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Watts Water Technologies, Inc engages in the manufacture and provision of products for water conservation, safety, and flow control. It operates through the following geographic segments: Americas, Europe, and Asia-Pacific, Middle East and Africa. Its services include plumbing and flow control solutions, water quality and conditioning, water reuse and drainage, heating, ventilation, and air conditioning, and municipal waterworks.

See Also

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

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