Allspring Global Investments Holdings LLC Purchases 3,644 Shares of Watts Water Technologies, Inc. $WTS

Allspring Global Investments Holdings LLC lifted its position in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 11.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,579 shares of the technology company’s stock after buying an additional 3,644 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of Watts Water Technologies worth $10,190,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Centennial Wealth Advisory LLC grew its stake in Watts Water Technologies by 3.8% in the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock valued at $279,000 after purchasing an additional 37 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Watts Water Technologies by 4.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 5,005 shares of the technology company’s stock valued at $1,381,000 after acquiring an additional 233 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in Watts Water Technologies by 10.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 980 shares of the technology company’s stock valued at $270,000 after acquiring an additional 95 shares during the last quarter. Curated Wealth Partners LLC boosted its stake in Watts Water Technologies by 31.6% in the fourth quarter. Curated Wealth Partners LLC now owns 3,520 shares of the technology company’s stock valued at $972,000 after acquiring an additional 845 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Watts Water Technologies by 151.2% in the fourth quarter. SG Americas Securities LLC now owns 10,579 shares of the technology company’s stock worth $2,920,000 after purchasing an additional 6,368 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Michael J. Dubose sold 332 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $301.70, for a total value of $100,164.40. Following the completion of the sale, the director directly owned 2,212 shares in the company, valued at $667,360.40. This represents a 13.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Timothy P. Horne sold 7,500 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the completion of the sale, the insider directly owned 7,500 shares of the company’s stock, valued at $2,475,300. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,674 shares of company stock valued at $9,669,838. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays increased their price objective on Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. The Goldman Sachs Group upped their target price on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Wall Street Zen cut Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. KeyCorp boosted their price target on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Finally, HSBC started coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Watts Water Technologies has an average rating of “Hold” and an average target price of $334.11.

Watts Water Technologies Trading Down 0.1%

Watts Water Technologies stock opened at $288.72 on Monday. The firm has a market cap of $9.63 billion, a PE ratio of 28.39, a P/E/G ratio of 2.62 and a beta of 1.27. Watts Water Technologies, Inc. has a 12 month low of $177.59 and a 12 month high of $345.17. The stock’s 50 day simple moving average is $308.70 and its two-hundred day simple moving average is $289.36. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. The business had revenue of $625.10 million during the quarter, compared to analysts’ expectations of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The business’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share. Analysts anticipate that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.52 dividend. The ex-dividend date was Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. Watts Water Technologies’s dividend payout ratio is 20.45%.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.