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

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have received an average rating of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $367.70.

Several equities research analysts recently commented on WTS shares. Weiss Ratings raised shares of Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. KeyCorp increased their price objective on shares of Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. TD Cowen lifted their target price on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Barclays boosted their target price on shares of Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $374.00 price target on shares of Watts Water Technologies in a research report on Friday, August 7th.

Watts Water Technologies Stock Up 1.0%

Watts Water Technologies stock opened at $355.45 on Friday. The stock has a market capitalization of $11.86 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 3.45 and a beta of 1.13. Watts Water Technologies has a 12 month low of $260.00 and a 12 month high of $394.54. The business has a 50 day simple moving average of $362.37 and a 200-day simple moving average of $328.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The business had revenue of $763.10 million during the quarter, compared to the consensus estimate of $725.99 million. During the same period in the prior year, the company posted $3.09 EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. On average, analysts anticipate that Watts Water Technologies will post 12.75 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

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

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph Noonan sold 3,650 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Trading of Watts Water Technologies

Several large investors have recently made changes to their positions in the company. Wexford Capital LP purchased a new position in Watts Water Technologies in the 3rd quarter valued at $26,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Watts Water Technologies during the fourth quarter worth $28,000. Clearstead Advisors LLC raised its position in shares of Watts Water Technologies by 69.4% in the fourth 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 last quarter. Advisory Services Network LLC acquired a new stake in shares of Watts Water Technologies in the third quarter valued at about $29,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Watts Water Technologies in the fourth quarter worth about $29,000. 95.02% of the stock is currently owned by hedge funds and other 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.