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

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have received a consensus rating of “Hold” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $367.70.

A number of research firms have recently commented on WTS. TD Cowen upped their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Stifel Nicolaus boosted their price target on Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $358.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Weiss Ratings restated a “buy (b)” rating on shares of Watts Water Technologies in a report on Friday, August 7th. Finally, Royal Bank Of Canada lifted their price objective on Watts Water Technologies from $350.00 to $417.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th.

Insider Transactions at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of the stock in a transaction on Thursday, May 28th. The shares were 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 of the company’s stock, valued at $561,668.82. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Watts Water Technologies

Institutional investors have recently added to or reduced their stakes in the business. Wexford Capital LP purchased a new position in Watts Water Technologies in the third quarter valued at about $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Watts Water Technologies in the fourth quarter valued at about $28,000. Clearstead Advisors LLC raised its holdings in shares of Watts Water Technologies by 69.4% during the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after buying an additional 43 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Watts Water Technologies during the 3rd quarter valued at about $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Watts Water Technologies during the 4th quarter worth approximately $29,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Trading Up 0.4%

NYSE WTS opened at $384.69 on Monday. The company has a market cap of $12.84 billion, a P/E ratio of 33.60, a P/E/G ratio of 3.16 and a beta of 1.15. Watts Water Technologies has a 12 month low of $260.00 and a 12 month high of $394.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. The company has a 50-day moving average of $353.44 and a 200-day moving average of $322.33.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business had revenue of $763.10 million for the quarter, compared to analysts’ expectations of $725.99 million. During the same period last year, the company earned $3.09 earnings per share. The company’s quarterly revenue was up 18.6% on a year-over-year basis. As a group, equities analysts predict that Watts Water Technologies will post 12.81 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Watts Water Technologies’s payout ratio is 22.01%.

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.