Watts Water Technologies, Inc. (NYSE:WTS) Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 9.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,895 shares of the technology company's stock after selling 10,492 shares during the period. Principal Financial Group Inc. owned about 0.30% of Watts Water Technologies worth $18,501,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WTS. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Watts Water Technologies by 4.4% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 11,601 shares of the technology company's stock worth $2,127,000 after acquiring an additional 494 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Watts Water Technologies by 16.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,091 shares of the technology company's stock worth $12,302,000 after acquiring an additional 9,605 shares during the period. Banco Santander S.A. grew its stake in Watts Water Technologies by 1.2% in the 2nd quarter. Banco Santander S.A. now owns 6,424 shares of the technology company's stock worth $1,178,000 after acquiring an additional 76 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Watts Water Technologies by 135.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 59,060 shares of the technology company's stock worth $10,830,000 after acquiring an additional 34,019 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Watts Water Technologies by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 287,553 shares of the technology company's stock worth $52,729,000 after acquiring an additional 8,370 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WTS. Robert W. Baird decreased their price target on shares of Watts Water Technologies from $225.00 to $199.00 and set a "neutral" rating on the stock in a report on Friday, August 9th. Stifel Nicolaus decreased their price target on shares of Watts Water Technologies from $217.00 to $202.00 and set a "hold" rating on the stock in a report on Friday, August 9th. Finally, StockNews.com upgraded shares of Watts Water Technologies from a "hold" rating to a "buy" rating in a report on Friday, August 16th.

Insiders Place Their Bets

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

Watts Water Technologies Stock Down 0.6 %

Shares of NYSE:WTS traded down $1.19 during midday trading on Wednesday, hitting $192.25. 214,763 shares of the company's stock traded hands, compared to its average volume of 148,703. 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 company has a market cap of $6.41 billion, a PE ratio of 23.92, a P/E/G ratio of 2.82 and a beta of 0.89. The firm's fifty day moving average price is $190.43 and its two-hundred day moving average price is $198.09. Watts Water Technologies, Inc. has a twelve month low of $167.87 and a twelve month high of $219.52.

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

Watts Water Technologies Announces Dividend

The company 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 $0.43 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a yield of 0.89%. Watts Water Technologies's dividend payout ratio is currently 21.34%.

About Watts Water Technologies

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.