Hsbc Holdings PLC Cuts Position in Watts Water Technologies, Inc. $WTS

Hsbc Holdings PLC lowered its holdings in Watts Water Technologies, Inc. (NYSE:WTS) by 29.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,005 shares of the technology company’s stock after selling 13,109 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Watts Water Technologies worth $8,563,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in shares of Watts Water Technologies by 94.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 867 shares of the technology company’s stock valued at $239,000 after purchasing an additional 422 shares during the period. Groupama Asset Managment boosted its holdings in Watts Water Technologies by 14.9% during the fourth quarter. Groupama Asset Managment now owns 76,674 shares of the technology company’s stock worth $21,164,000 after buying an additional 9,934 shares in the last quarter. Pacer Advisors Inc. grew its position in Watts Water Technologies by 124.4% during the fourth quarter. Pacer Advisors Inc. now owns 8,174 shares of the technology company’s stock worth $2,256,000 after buying an additional 4,531 shares during the period. Corient Private Wealth LLC grew its position in Watts Water Technologies by 36.1% during the fourth quarter. Corient Private Wealth LLC now owns 6,140 shares of the technology company’s stock worth $1,695,000 after buying an additional 1,627 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its holdings in Watts Water Technologies by 16.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,896 shares of the technology company’s stock valued at $799,000 after buying an additional 407 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WTS. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Weiss Ratings cut Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a research note on Friday, May 8th. TD Cowen lifted their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Finally, Barclays upgraded Watts Water Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $317.00 to $414.00 in a research report on Tuesday, June 30th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $338.20.

Insider Buying and Selling at Watts Water Technologies

In related news, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the sale, the director owned 1,814 shares in the company, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the transaction, the insider directly owned 8,963 shares of the company’s stock, valued at $2,697,863. The trade was a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

Watts Water Technologies Stock Down 2.4%

WTS stock opened at $348.79 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The company’s 50 day simple moving average is $324.06 and its 200-day simple moving average is $309.26. Watts Water Technologies, Inc. has a 12 month low of $242.77 and a 12 month high of $394.54. The firm has a market capitalization of $11.65 billion, a PE ratio of 31.91, a P/E/G ratio of 3.14 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same period in the previous year, the firm posted $2.37 EPS. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. Equities analysts expect that Watts Water Technologies, Inc. will post 12.03 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Watts Water Technologies’s payout ratio is 23.06%.

About Watts Water Technologies

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.