Watts Water Technologies (NYSE:WTS) Reaches New 1-Year High – Time to Buy?

Watts Water Technologies, Inc. (NYSE:WTS)’s stock price hit a new 52-week high on Monday . The stock traded as high as $321.74 and last traded at $319.47, with a volume of 2134 shares changing hands. The stock had previously closed at $308.80.

Analyst Ratings Changes

A number of brokerages have recently commented on WTS. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. TD Cowen reaffirmed a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Wells Fargo & Company set a $275.00 price target on shares of Watts Water Technologies in a report on Thursday, January 8th. HSBC assumed coverage on shares of Watts Water Technologies in a report on Tuesday, January 27th. They set a “buy” rating on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Watts Water Technologies has an average rating of “Moderate Buy” and an average target price of $288.57.

Watts Water Technologies Trading Up 0.3%

The firm has a market cap of $10.68 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.97 and a beta of 1.24. The company has a current ratio of 2.83, a quick ratio of 1.84 and a debt-to-equity ratio of 0.10. The company’s fifty day moving average price is $287.05 and its two-hundred day moving average price is $278.72.

Insider Activity at Watts Water Technologies

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

Hedge Funds Weigh In On Watts Water Technologies

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

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.