Hsbc Holdings PLC Sells 13,109 Shares of Watts Water Technologies, Inc. $WTS

Hsbc Holdings PLC cut its stake in Watts Water Technologies, Inc. (NYSE:WTS) by 29.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,005 shares of the technology company’s stock after selling 13,109 shares during the period. Hsbc Holdings PLC’s holdings in Watts Water Technologies were worth $8,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wexford Capital LP bought a new stake in Watts Water Technologies in the third quarter valued at $26,000. Acumen Wealth Advisors LLC bought a new position in shares of Watts Water Technologies in the fourth quarter valued at about $28,000. Clearstead Advisors LLC raised its stake in shares of Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after acquiring an additional 43 shares during the last quarter. Advisory Services Network LLC acquired a new position in Watts Water Technologies during the 3rd quarter worth $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Watts Water Technologies during the fourth quarter valued at $29,000. Institutional investors own 95.02% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on WTS shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $358.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Royal Bank Of Canada increased their price objective on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. Finally, Zacks Research cut shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $329.44.

Insider Activity

In other news, Director Michael J. Dubose sold 398 shares of the firm’s 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 sale, the director owned 1,814 shares of the company’s stock, valued at $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Elie Melhem sold 2,257 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the transaction, the insider owned 8,963 shares of the company’s stock, valued at $2,697,863. This represents a 20.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by corporate insiders.

Watts Water Technologies Trading Down 4.3%

Shares of NYSE WTS opened at $358.99 on Friday. The company’s fifty day moving average is $313.19 and its 200-day moving average is $303.91. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 3.33 and a beta of 1.19. Watts Water Technologies, Inc. has a twelve month low of $242.77 and a twelve month high of $375.89. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. The business had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.37 EPS. Equities research analysts predict that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Announces Dividend

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

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.