Watts Water Technologies (WTS) Lowered to “Neutral” at Janney Montgomery Scott

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Janney Montgomery Scott downgraded shares of Watts Water Technologies (NYSE:WTS) from a buy rating to a neutral rating in a research note published on Monday morning, MarketBeat reports. Janney Montgomery Scott currently has $83.00 price target on the technology company’s stock, up from their prior price target of $81.00.

A number of other research analysts have also recently issued reports on WTS. Oppenheimer reissued a hold rating on shares of Watts Water Technologies in a report on Monday. Boenning Scattergood reissued a hold rating on shares of Watts Water Technologies in a report on Monday, November 5th. Finally, Seaport Global Securities raised Watts Water Technologies from a neutral rating to a buy rating in a report on Tuesday, December 4th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Watts Water Technologies currently has an average rating of Hold and a consensus target price of $89.50.

Shares of NYSE WTS opened at $78.70 on Monday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 1.81 and a beta of 1.23. Watts Water Technologies has a 52-week low of $61.17 and a 52-week high of $93.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.07 and a quick ratio of 1.25.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Thursday, February 7th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. The company had revenue of $387.60 million during the quarter, compared to analysts’ expectations of $382.33 million. Watts Water Technologies had a return on equity of 14.72% and a net margin of 7.97%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $0.74 earnings per share. As a group, sell-side analysts predict that Watts Water Technologies will post 4.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.07%. Watts Water Technologies’s dividend payout ratio is 22.46%.

In related news, insider Elie Melhem sold 9,173 shares of Watts Water Technologies stock in a transaction dated Monday, December 10th. The stock was sold at an average price of $69.91, for a total value of $641,284.43. Following the completion of the transaction, the insider now directly owns 29,991 shares of the company’s stock, valued at $2,096,670.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. We Are One Seven LLC bought a new position in shares of Watts Water Technologies in the fourth quarter valued at about $32,000. Quantamental Technologies LLC acquired a new stake in Watts Water Technologies in the fourth quarter worth about $52,000. Clean Yield Group acquired a new stake in Watts Water Technologies in the fourth quarter worth about $88,000. Whittier Trust Co. acquired a new stake in Watts Water Technologies in the fourth quarter worth about $90,000. Finally, ETF Managers Group LLC increased its position in Watts Water Technologies by 15.7% in the fourth quarter. ETF Managers Group LLC now owns 1,677 shares of the technology company’s stock worth $108,000 after purchasing an additional 228 shares during the period. 78.42% of the stock is owned by institutional investors and hedge funds.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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