Brokerages Set Watts Water Technologies, Inc. (NYSE:WTS) Price Target at $279.25

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have received a consensus rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $279.25.

A number of analysts have commented on WTS shares. Wall Street Zen downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Jefferies Financial Group assumed coverage on Watts Water Technologies in a report on Friday, December 12th. They issued a “hold” rating and a $300.00 target price for the company. Finally, Barclays lifted their price target on Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th.

Watts Water Technologies Stock Down 1.0%

Shares of WTS opened at $279.80 on Friday. The firm has a market capitalization of $9.33 billion, a P/E ratio of 28.87, a P/E/G ratio of 3.00 and a beta of 1.23. The firm has a fifty day moving average price of $275.52 and a 200-day moving average price of $269.78. Watts Water Technologies has a 12-month low of $177.59 and a 12-month high of $287.89. The company has a current ratio of 2.83, a quick ratio of 1.84 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, November 5th. The technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.21. The firm had revenue of $611.70 million during the quarter, compared to analysts’ expectations of $576.20 million. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.03 EPS. Equities research analysts expect that Watts Water Technologies will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, December 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 21.47%.

Insider Activity

In other news, CAO Virginia A. Halloran sold 605 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the transaction, the chief accounting officer owned 13,412 shares of the company’s stock, valued at approximately $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Timothy P. Horne sold 6,814 shares of Watts Water Technologies stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $272.32, for a total value of $1,855,588.48. Following the transaction, the insider directly owned 15,000 shares of the company’s stock, valued at approximately $4,084,800. This represents a 31.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 15,605 shares of company stock valued at $4,296,387 over the last three months. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Large investors have recently made changes to their positions in the business. Wexford Capital LP bought a new stake in Watts Water Technologies during the third quarter valued at about $26,000. MTM Investment Management LLC bought a new stake in Watts Water Technologies during the 2nd quarter valued at approximately $25,000. Advisory Services Network LLC acquired a new stake in Watts Water Technologies in the 3rd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. increased its position in Watts Water Technologies by 156.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after buying an additional 80 shares during the period. Finally, Stance Capital LLC acquired a new position in shares of Watts Water Technologies during the third quarter worth approximately $62,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Company 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.