Watts Water Technologies (NYSE:WTS) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Watts Water Technologies (NYSE:WTS) from a strong-buy rating to a buy rating in a research note published on Saturday.

Other equities analysts have also issued reports about the stock. Robert W. Baird set a $361.00 price target on shares of Watts Water Technologies in a research report on Friday, February 13th. Stifel Nicolaus boosted their target price on Watts Water Technologies from $320.00 to $389.00 and gave the stock a “buy” rating in a report on Friday, February 13th. TD Cowen restated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Royal Bank Of Canada lifted their price objective on Watts Water Technologies from $288.00 to $337.00 and gave the stock a “sector perform” rating in a research report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $339.00 price objective on shares of Watts Water Technologies in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $334.11.

Watts Water Technologies Trading Down 0.9%

WTS stock opened at $325.73 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. Watts Water Technologies has a 12-month low of $177.59 and a 12-month high of $345.17. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.99 and a beta of 1.23. The business’s 50-day moving average is $303.17 and its 200 day moving average is $285.94.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The company had revenue of $625.10 million for the quarter, compared to analyst estimates of $610.40 million. During the same quarter last year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts anticipate that Watts Water Technologies will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.52 dividend. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, February 27th. Watts Water Technologies’s dividend payout ratio is 20.45%.

Insiders Place Their Bets

In related news, major shareholder Timothy P. Horne sold 7,500 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the completion of the sale, the insider directly owned 7,500 shares of the company’s stock, valued at approximately $2,475,300. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the completion of the transaction, the chief executive officer directly owned 191,202 shares in the company, valued at $62,582,326.62. The trade was a 7.75% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 29,196 shares of company stock valued at $9,514,741. 1.10% of the stock is owned by company insiders.

Institutional Trading of Watts Water Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of WTS. Wexford Capital LP purchased a new position in shares of Watts Water Technologies in the third quarter valued at approximately $26,000. MTM Investment Management LLC acquired a new stake in Watts Water Technologies during the 2nd quarter worth approximately $25,000. Acumen Wealth Advisors LLC purchased a new position in Watts Water Technologies in the 4th quarter valued at approximately $28,000. Advisory Services Network LLC acquired a new position in shares of Watts Water Technologies in the third quarter worth $29,000. Finally, Clearstead Advisors LLC increased its position in shares of Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after acquiring an additional 43 shares during the period. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

About Watts Water Technologies

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.