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

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have been given an average rating of “Hold” by the eleven ratings firms that are presently covering the company, MarketBeat reports. Six equities 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 updated their coverage on the stock in the last year is $367.70.

Several analysts have issued reports on the stock. Weiss Ratings downgraded shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $374.00 target price on shares of Watts Water Technologies in a research report on Friday. TD Cowen lifted their price target on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. Stifel Nicolaus upped 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. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $358.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the sale, the insider directly owned 8,963 shares in the company, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the transaction, the director directly owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Watts Water Technologies

Large investors have recently added to or reduced their stakes in the business. Advyzon Investment Management LLC grew its position in shares of Watts Water Technologies by 3.8% in the fourth quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company’s stock valued at $233,000 after purchasing an additional 31 shares during the period. Commonwealth Equity Services LLC lifted its position in Watts Water Technologies by 0.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company’s stock worth $1,149,000 after buying an additional 32 shares during the period. C M Bidwell & Associates Ltd. boosted its position in shares of Watts Water Technologies by 5.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company’s stock worth $179,000 after acquiring an additional 34 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Watts Water Technologies by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company’s stock worth $1,521,000 after purchasing an additional 38 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Watts Water Technologies by 0.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 6,457 shares of the technology company’s stock valued at $1,588,000 after purchasing an additional 40 shares during the last quarter. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Stock Up 0.2%

WTS stock opened at $392.90 on Monday. Watts Water Technologies has a 52-week low of $260.00 and a 52-week high of $394.54. The company’s 50 day simple moving average is $346.18 and its 200-day simple moving average is $319.46. 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 firm has a market capitalization of $13.12 billion, a P/E ratio of 34.31, a P/E/G ratio of 3.35 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $763.10 million during the quarter, compared to analyst estimates of $725.99 million. During the same quarter last year, the business posted $3.09 EPS. The company’s revenue was up 18.6% on a year-over-year basis. As a group, equities research analysts anticipate that Watts Water Technologies will post 12.37 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Watts Water Technologies’s dividend 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.