Hsbc Holdings PLC Sells 34,344 Shares of Watts Water Technologies, Inc. (NYSE:WTS)

Hsbc Holdings PLC lowered its stake in shares of Watts Water Technologies, Inc. (NYSE:WTS) by 56.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,211 shares of the technology company’s stock after selling 34,344 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Watts Water Technologies worth $4,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC boosted its position in Watts Water Technologies by 4.2% during the first quarter. Park Avenue Securities LLC now owns 1,645 shares of the technology company’s stock valued at $350,000 after purchasing an additional 67 shares in the last quarter. Banco Santander S.A. boosted its position in Watts Water Technologies by 1.2% during the second quarter. Banco Santander S.A. now owns 6,424 shares of the technology company’s stock valued at $1,178,000 after purchasing an additional 76 shares in the last quarter. Fifth Third Bancorp boosted its position in Watts Water Technologies by 30.0% during the second quarter. Fifth Third Bancorp now owns 338 shares of the technology company’s stock valued at $62,000 after purchasing an additional 78 shares in the last quarter. Retirement Systems of Alabama boosted its position in Watts Water Technologies by 0.3% during the first quarter. Retirement Systems of Alabama now owns 34,367 shares of the technology company’s stock valued at $7,305,000 after purchasing an additional 90 shares in the last quarter. Finally, State of Michigan Retirement System boosted its position in Watts Water Technologies by 1.5% during the first quarter. State of Michigan Retirement System now owns 6,695 shares of the technology company’s stock valued at $1,423,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 95.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. StockNews.com raised Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus decreased their price target on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, Robert W. Baird decreased their price target on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a research note on Friday, August 9th.

Insider Transactions at Watts Water Technologies

In other news, Director Michael J. Dubose sold 315 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now directly owns 2,755 shares in the company, valued at $512,237.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Elie Melhem sold 1,710 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the sale, the insider now directly owns 11,516 shares of the company’s stock, valued at $2,132,302.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Dubose sold 315 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the sale, the director now directly owns 2,755 shares in the company, valued at $512,237.15. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Watts Water Technologies Trading Up 0.4 %

Watts Water Technologies stock opened at $206.93 on Wednesday. The stock has a 50-day moving average of $194.52 and a two-hundred day moving average of $197.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 2.50. Watts Water Technologies, Inc. has a one year low of $167.87 and a one year high of $219.52. The stock has a market cap of $6.91 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 2.80 and a beta of 0.89.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.13. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The firm had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $589.55 million. During the same period last year, the business posted $2.34 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Watts Water Technologies, Inc. will post 8.71 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, August 30th. Watts Water Technologies’s payout ratio is 21.34%.

Watts Water Technologies Company Profile

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.