Crossmark Global Holdings Inc. Lowers Stock Holdings in Watts Water Technologies, Inc. (NYSE:WTS)

Posted by Defense World Staff on Oct 29th, 2023

Crossmark Global Holdings Inc. lessened its position in Watts Water Technologies, Inc. (NYSE:WTS – Free Report) by 15.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,844 shares of the technology company’s stock after selling 327 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Watts Water Technologies were worth $339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Watts Water Technologies by 141.1% in the first quarter. Fifth Third Bancorp now owns 176 shares of the technology company’s stock valued at $30,000 after acquiring an additional 103 shares in the last quarter. Covestor Ltd increased its holdings in shares of Watts Water Technologies by 80.4% in the first quarter. Covestor Ltd now owns 184 shares of the technology company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Watts Water Technologies in the second quarter valued at approximately $36,000. Eagle Bay Advisors LLC acquired a new stake in shares of Watts Water Technologies in the second quarter valued at approximately $32,000. Finally, CWM LLC increased its holdings in shares of Watts Water Technologies by 458.3% in the first quarter. CWM LLC now owns 268 shares of the technology company’s stock valued at $45,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.

Analyst Upgrades and Downgrades

WTS has been the subject of several recent research reports. Stifel Nicolaus increased their price target on Watts Water Technologies from $177.00 to $182.00 and gave the company a “hold” rating in a report on Wednesday, July 19th. TD Cowen increased their price target on Watts Water Technologies from $160.00 to $165.00 and gave the company a “market perform” rating in a report on Monday, September 11th. StockNews.com cut Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Finally, The Goldman Sachs Group raised their target price on Watts Water Technologies from $171.00 to $189.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $178.20.

View Our Latest Research Report on Watts Water Technologies

Insider Activity

In other news, CFO Shashank Patel sold 2,336 shares of Watts Water Technologies stock in a transaction on Friday, September 1st. The stock was sold at an average price of $190.14, for a total value of $444,167.04. Following the completion of the sale, the chief financial officer now directly owns 18,846 shares of the company’s stock, valued at $3,583,378.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Shashank Patel sold 2,336 shares of Watts Water Technologies stock in a transaction on Friday, September 1st. The stock was sold at an average price of $190.14, for a total value of $444,167.04. Following the completion of the sale, the chief financial officer now directly owns 18,846 shares of the company’s stock, valued at $3,583,378.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Kenneth Robert Lepage sold 9,403 shares of Watts Water Technologies stock in a transaction on Friday, September 1st. The shares were sold at an average price of $188.36, for a total value of $1,771,149.08. Following the completion of the transaction, the general counsel now owns 17,404 shares of the company’s stock, valued at $3,278,217.44. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Watts Water Technologies Price Performance

WTS stock opened at $169.42 on Friday. The business has a fifty day moving average of $177.91 and a two-hundred day moving average of $175.76. The company has a quick ratio of 1.49, a current ratio of 2.53 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 2.93 and a beta of 1.04. Watts Water Technologies, Inc. has a 52-week low of $138.56 and a 52-week high of $192.93.

Watts Water Technologies (NYSE:WTS – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.29. Watts Water Technologies had a return on equity of 19.48% and a net margin of 13.43%. The business had revenue of $532.80 million during the quarter, compared to analysts’ expectations of $529.93 million. As a group, research analysts anticipate that Watts Water Technologies, Inc. will post 7.78 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a $0.36 dividend. The ex-dividend date was Thursday, August 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.85%. Watts Water Technologies’s payout ratio is presently 18.02%.

Watts Water Technologies Profile

(Free Report)

Watts Water Technologies, Inc 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. The company offers residential and commercial flow control and protection products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, thermostatic mixing valves, and leak detection and protection products for plumbing and hot water applications.