Allspring Global Investments Holdings LLC Buys 34,019 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Allspring Global Investments Holdings LLC lifted its holdings in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 135.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,060 shares of the technology company's stock after purchasing an additional 34,019 shares during the period. Allspring Global Investments Holdings LLC owned 0.18% of Watts Water Technologies worth $10,830,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Watts Water Technologies in the first quarter worth about $26,000. Gradient Investments LLC bought a new position in Watts Water Technologies during the second quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. increased its stake in Watts Water Technologies by 502.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the technology company's stock valued at $47,000 after acquiring an additional 186 shares during the period. Blue Trust Inc. increased its stake in Watts Water Technologies by 520.5% during the second quarter. Blue Trust Inc. now owns 273 shares of the technology company's stock valued at $50,000 after acquiring an additional 229 shares during the period. Finally, EntryPoint Capital LLC bought a new position in Watts Water Technologies during the first quarter valued at about $53,000. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Price Performance

NYSE WTS traded up $2.62 during trading on Friday, reaching $196.70. 123,305 shares of the company traded hands, compared to its average volume of 146,954. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 2.50. The stock's 50 day moving average price is $190.04 and its two-hundred day moving average price is $198.18. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 2.77 and a beta of 0.90. Watts Water Technologies, Inc. has a 1-year low of $167.87 and a 1-year high of $219.52.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.13. The company had revenue of $597.30 million for the quarter, compared to the consensus estimate of $589.55 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The company's quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.34 earnings per share. As a group, analysts anticipate that Watts Water Technologies, Inc. will post 8.71 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, August 30th. Watts Water Technologies's payout ratio is 21.34%.

Insider Transactions at Watts Water Technologies

In other news, insider Elie Melhem sold 1,710 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the transaction, the insider now directly owns 11,516 shares of the company's stock, valued at approximately $2,132,302.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Elie Melhem sold 1,710 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total value of $316,623.60. Following the transaction, the insider now directly owns 11,516 shares of the company's stock, valued at approximately $2,132,302.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Dubose sold 315 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now directly owns 2,755 shares in the company, valued at $512,237.15. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Robert W. Baird lowered their price target on Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating on the stock in a research note on Friday, August 9th. Stifel Nicolaus lowered their price target on Watts Water Technologies from $217.00 to $202.00 and set a "hold" rating on the stock in a research note on Friday, August 9th. Finally, StockNews.com upgraded Watts Water Technologies from a "hold" rating to a "buy" rating in a research note on Friday, August 16th.

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.