Allianz SE Purchases Shares of 1,120 Watts Water Technologies, Inc. $WTS

Allianz SE acquired a new position in shares of Watts Water Technologies, Inc. (NYSE:WTS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,120 shares of the technology company’s stock, valued at approximately $275,000.

Other hedge funds have also recently made changes to their positions in the company. Boston Partners boosted its holdings in Watts Water Technologies by 43.3% during the first quarter. Boston Partners now owns 905,783 shares of the technology company’s stock worth $184,708,000 after purchasing an additional 273,628 shares during the last quarter. Nuveen LLC purchased a new position in Watts Water Technologies in the 1st quarter valued at approximately $49,199,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Watts Water Technologies during the 2nd quarter valued at $50,400,000. Allianz Asset Management GmbH increased its holdings in shares of Watts Water Technologies by 2,366.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 153,282 shares of the technology company’s stock worth $37,691,000 after buying an additional 147,068 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Watts Water Technologies by 20.7% during the 2nd quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock valued at $197,728,000 after buying an additional 138,034 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on WTS shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Weiss Ratings reissued a “buy (b+)” rating on shares of Watts Water Technologies in a report on Tuesday, October 14th. Zacks Research cut shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Stifel Nicolaus upped their price objective on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $264.25.

Insider Buying and Selling at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 6,994 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $278.65, for a total value of $1,948,878.10. Following the completion of the sale, the insider owned 23,006 shares in the company, valued at approximately $6,410,621.90. This trade represents a 23.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Watts Water Technologies Stock Down 1.7%

Shares of NYSE WTS opened at $271.85 on Friday. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 3.27 and a beta of 1.17. Watts Water Technologies, Inc. has a 12-month low of $177.59 and a 12-month high of $287.89. 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 firm’s 50-day moving average price is $277.46 and its 200-day moving average price is $259.76.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, November 5th. The technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.21. The business had revenue of $611.70 million for the quarter, compared to the consensus estimate of $576.20 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 earnings per share. Watts Water Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.52 per share. The ex-dividend date is Monday, December 1st. This represents a $2.08 dividend on an annualized basis and a yield of 0.8%. Watts Water Technologies’s payout ratio is 21.47%.

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.