Watts Water Technologies, Inc. (NYSE:WTS) Given Consensus Rating of “Hold” by Analysts

Watts Water Technologies, Inc. (NYSE:WTS) has earned an average rating of “Hold” from the twelve analysts that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $334.1111.

Several equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Watts Water Technologies from $320.00 to $389.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a research note on Thursday, January 8th. HSBC assumed coverage on Watts Water Technologies in a research note on Tuesday, January 27th. They set a “buy” rating for the company. The Goldman Sachs Group raised their price target on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Finally, Robert W. Baird set a $361.00 price target on shares of Watts Water Technologies in a research note on Friday, February 13th.

Watts Water Technologies Price Performance

WTS opened at $302.97 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 2.80 and a beta of 1.23. The stock has a fifty day simple moving average of $307.86 and a two-hundred day simple moving average of $287.76. Watts Water Technologies has a 12-month low of $177.59 and a 12-month high of $345.17.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.26. The firm had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The company’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. Research analysts predict that Watts Water Technologies will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. Watts Water Technologies’s dividend payout ratio is presently 20.45%.

Insider Activity

In related news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $327.31, for a total value of $5,258,562.46. Following the transaction, the chief executive officer directly owned 191,202 shares of the company’s stock, valued at approximately $62,582,326.62. This represents a 7.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value 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 approximately $3,712,173.36. The trade was a 4.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,196 shares of company stock valued at $9,514,741 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its position in Watts Water Technologies by 10.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after purchasing an additional 174 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of Watts Water Technologies by 80.2% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after acquiring an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Watts Water Technologies by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock valued at $20,163,000 after acquiring an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Watts Water Technologies in the second quarter worth about $219,000. Finally, Bank of Montreal Can grew its stake in shares of Watts Water Technologies by 4.2% during the 2nd quarter. Bank of Montreal Can now owns 3,377 shares of the technology company’s stock valued at $830,000 after purchasing an additional 137 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

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.