Hsbc Holdings PLC Decreases Stock Holdings in Watts Water Technologies, Inc. (NYSE:WTS) (2024)

Posted by Defense World Staff on Jun 2nd, 2024

Hsbc Holdings PLC reduced its holdings in Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,103 shares of the technology company’s stock after selling 1,592 shares during the period. Hsbc Holdings PLC owned approximately 0.20% of Watts Water Technologies worth $13,775,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. bought a new position in shares of Watts Water Technologies in the 4th quarter valued at about $26,000. Allworth Financial LP raised its position in Watts Water Technologies by 47.5% during the fourth quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock valued at $36,000 after purchasing an additional 56 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Watts Water Technologies in the 4th quarter valued at approximately $39,000. Headinvest LLC purchased a new position in shares of Watts Water Technologies in the 3rd quarter worth approximately $41,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Watts Water Technologies by 2,857.1% in the 4th quarter. AdvisorNet Financial Inc now owns 207 shares of the technology company’s stock worth $43,000 after purchasing an additional 200 shares during the period. 95.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WTS has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Watts Water Technologies from $212.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Stifel Nicolaus increased their price objective on shares of Watts Water Technologies from $206.00 to $209.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $199.50.

Read Our Latest Report on WTS

Insiders Place Their Bets

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 2,194 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $214.39, for a total value of $470,371.66. Following the completion of the sale, the insider now directly owns 2,806 shares in the company, valued at approximately $601,578.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Timothy P. Horne sold 2,194 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $214.39, for a total value of $470,371.66. Following the completion of the sale, the insider now directly owns 2,806 shares in the company, valued at $601,578.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Virginia A. Halloran sold 1,520 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $202.11, for a total transaction of $307,207.20. Following the completion of the sale, the chief accounting officer now directly owns 14,818 shares of the company’s stock, valued at $2,994,865.98. The disclosure for this sale can be found here. Insiders have sold 7,273 shares of company stock worth $1,543,961 in the last ninety days. 1.10% of the stock is owned by company insiders.

Watts Water Technologies Stock Up 0.5 %

NYSE:WTS opened at $199.13 on Friday. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 2.90 and a beta of 0.95. Watts Water Technologies, Inc. has a twelve month low of $156.85 and a twelve month high of $219.52. The company has a current ratio of 2.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $206.75 and a 200-day simple moving average of $203.21.

Watts Water Technologies (NYSE:WTS – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $2.11 by $0.22. The company had revenue of $570.90 million for the quarter, compared to the consensus estimate of $547.20 million. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.92 EPS. Analysts anticipate that Watts Water Technologies, Inc. will post 8.57 EPS for the current year.

Watts Water Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.72 annualized dividend and a yield of 0.86%. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.36. Watts Water Technologies’s dividend payout ratio is 17.87%.

About Watts Water Technologies

(Free Report)

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.

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