Watts Water Technologies, Inc. (NYSE:WTS) Receives Average Recommendation of “Hold” from Brokerages

Watts Water Technologies, Inc. (NYSE:WTS) has been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $340.20.

A number of analysts recently commented on the company. Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Royal Bank Of Canada raised their price objective on shares of Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Stifel Nicolaus set a $379.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. KeyCorp raised their price target on shares of Watts Water Technologies from $360.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a report on Friday, May 8th.

Watts Water Technologies Stock Performance

NYSE WTS opened at $349.39 on Thursday. The company has a market cap of $11.67 billion, a P/E ratio of 31.97, a PEG ratio of 3.07 and a beta of 1.14. The company has a fifty day simple moving average of $329.38 and a 200 day simple moving average of $311.60. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. Watts Water Technologies has a 12-month low of $242.77 and a 12-month high of $394.54.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The business had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same quarter in the prior year, the company posted $2.37 earnings per share. Watts Water Technologies’s revenue was up 21.4% compared to the same quarter last year. Sell-side analysts predict that Watts Water Technologies will post 12.03 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.63 per share. The ex-dividend date was Monday, June 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio is 23.06%.

Insider Transactions at Watts Water Technologies

In related news, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the sale, the director owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the sale, the insider directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. This represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Cumberland Partners Ltd raised its holdings in Watts Water Technologies by 100.0% during the 4th quarter. Cumberland Partners Ltd now owns 13,000 shares of the technology company’s stock valued at $3,588,000 after buying an additional 6,500 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in Watts Water Technologies during the 4th quarter valued at $2,848,000. Mach 1 Financial Group LLC bought a new stake in Watts Water Technologies in the 4th quarter worth $1,950,000. AE Wealth Management LLC grew its holdings in Watts Water Technologies by 23.8% in the 4th quarter. AE Wealth Management LLC now owns 171,194 shares of the technology company’s stock worth $47,253,000 after acquiring an additional 32,901 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Watts Water Technologies by 122.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 54,381 shares of the technology company’s stock valued at $15,010,000 after acquiring an additional 29,942 shares during the period. Institutional investors own 95.02% of the company’s stock.

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.