Watts Water Technologies, Inc. $WTS Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in Watts Water Technologies, Inc. (NYSE:WTS) by 29.7% in the 4th quarter, Holdings Channel reports. The fund 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 quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Watts Water Technologies in the 4th quarter worth about $100,627,000. Cartenna Capital LP purchased a new stake in Watts Water Technologies in the 3rd quarter valued at about $47,478,000. AQR Capital Management LLC increased its stake in shares of Watts Water Technologies by 148.3% during the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after acquiring an additional 165,837 shares during the last quarter. UBS Group AG increased its stake in shares of Watts Water Technologies by 223.0% during the 3rd quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock valued at $56,484,000 after acquiring an additional 139,637 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Watts Water Technologies by 79.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company’s stock worth $78,067,000 after acquiring an additional 125,218 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

Watts Water Technologies stock opened at $348.79 on Thursday. The company has a market cap of $11.65 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 3.14 and a beta of 1.14. Watts Water Technologies, Inc. has a 12 month low of $242.77 and a 12 month high of $394.54. 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 stock’s 50-day moving average is $324.06 and its 200-day moving average is $309.26.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping 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 return on equity of 18.92% and a net margin of 14.32%.The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.37 EPS. Equities analysts anticipate that Watts Water Technologies, Inc. will post 12.03 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

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

Insider Activity at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total value of $123,232.74. Following the transaction, the director owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the transaction, the insider owned 8,963 shares in the company, 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 insiders.

Wall Street Analysts Forecast Growth

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

Watts Water Technologies 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.