Shares of Watts Water Technologies Inc. (NYSE:WTS) have been given a consensus recommendation of “Hold” by the ten ratings firms that are currently covering the company. Seven investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $61.25.
A number of research firms recently issued reports on WTS. Janney Montgomery Scott started coverage on Watts Water Technologies in a research report on Friday, September 16th. They set a “neutral” rating and a $63.00 price objective for the company. Northcoast Research started coverage on Watts Water Technologies in a research report on Friday, July 8th. They issued a “neutral” rating for the company.
In other news, General Counsel Kenneth Robert Lepage sold 31,362 shares of Watts Water Technologies stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $64.53, for a total value of $2,023,789.86. Following the transaction, the general counsel now directly owns 75,727 shares in the company, valued at $4,886,663.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elie Melhem sold 5,192 shares of Watts Water Technologies stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $62.44, for a total value of $324,188.48. Following the completion of the transaction, the insider now owns 32,656 shares in the company, valued at $2,039,040.64. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of WTS. Daiwa SB Investments Ltd. purchased a new position in shares of Watts Water Technologies during the third quarter valued at about $616,000. BNP Paribas Arbitrage SA raised its position in shares of Watts Water Technologies by 23.1% in the third quarter. BNP Paribas Arbitrage SA now owns 13,016 shares of the company’s stock valued at $844,000 after buying an additional 2,440 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Watts Water Technologies during the third quarter valued at about $243,000. Mason Street Advisors LLC purchased a new position in shares of Watts Water Technologies during the second quarter valued at about $317,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Watts Water Technologies by 2.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,203 shares of the company’s stock valued at $128,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.
Shares of Watts Water Technologies (NYSE:WTS) opened at 62.27 on Wednesday. The firm’s market cap is $2.13 billion. The firm’s 50-day moving average price is $63.72 and its 200-day moving average price is $59.91. Watts Water Technologies has a 52 week low of $44.51 and a 52 week high of $66.00.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.05. The firm earned $371.10 million during the quarter, compared to analysts’ expectations of $367.14 million. Watts Water Technologies had a positive return on equity of 11.85% and a negative net margin of 6.88%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. Equities research analysts expect that Watts Water Technologies will post $2.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. Watts Water Technologies’s payout ratio is presently -25.35%.
About Watts Water Technologies
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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