Watts Water Technologies, Inc. (NYSE:WTS) Stock Has Consensus Target Price of $367.70 According to Analysts

Watts Water Technologies, Inc. (NYSE:WTS) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $367.70.

Several research firms have recently weighed in on WTS. Stifel Nicolaus increased their price objective on Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, September 14th. Robert W. Baird set a $405.00 price target on shares of Watts Water Technologies in a research report on Friday, August 7th. KeyCorp increased their price target on shares of Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, TD Cowen raised their price objective on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd.

Watts Water Technologies Stock Up 1.1%

Watts Water Technologies stock opened at $363.33 on Tuesday. The company has a market capitalization of $12.13 billion, a P/E ratio of 31.73, a PEG ratio of 3.56 and a beta of 1.15. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66. Watts Water Technologies has a fifty-two week low of $260.00 and a fifty-two week high of $394.54. The stock has a 50-day simple moving average of $362.56 and a 200-day simple moving average of $333.55.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $763.20 million for the quarter, compared to the consensus estimate of $725.99 million. During the same quarter last year, the business posted $3.09 EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. Equities research analysts expect that Watts Water Technologies will post 12.75 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Watts Water Technologies’s payout ratio is 22.01%.

Insider Activity

In other Watts Water Technologies news, Director Joseph Noonan sold 3,650 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Elie Melhem sold 1,096 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the sale, the insider directly owned 7,867 shares of the company’s stock, valued at $2,828,579.85. The trade was a 12.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

Several large investors have recently modified their holdings of the stock. Clearstead Advisors LLC raised its holdings in Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after purchasing an additional 43 shares in the last quarter. NewEdge Advisors LLC lifted its position in Watts Water Technologies by 769.2% in the second quarter. NewEdge Advisors LLC now owns 113 shares of the technology company’s stock valued at $44,000 after purchasing an additional 100 shares during the period. Assetmark Inc. boosted its holdings in Watts Water Technologies by 211.3% in the 1st quarter. Assetmark Inc. now owns 165 shares of the technology company’s stock valued at $48,000 after purchasing an additional 112 shares in the last quarter. Costello Asset Management INC boosted its holdings in Watts Water Technologies by 900.0% in the 1st quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $87,000 after purchasing an additional 270 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Watts Water Technologies by 352.9% during the 1st quarter. Blue Trust Inc. now owns 317 shares of the technology company’s stock worth $92,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs and manufactures products that help manage the safety, efficiency, and quality of water in residential, commercial, institutional, and industrial systems. Its offerings are used in plumbing, heating, water distribution, and drainage applications.

The company’s product portfolio includes backflow prevention devices, pressure regulators, safety and relief valves, water quality and conditioning equipment, leak detection products, drainage systems, and hydronic and HVAC components.