Watts Water Technologies Inc. (WTS) Given Consensus Rating of “Hold” by Brokerages
Watts Water Technologies Inc. (NYSE:WTS) has earned a consensus rating of “Hold” from the ten research firms that are covering the company. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $61.25.
A number of equities research analysts recently weighed in on WTS shares. TheStreet raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. Northcoast Research initiated coverage on shares of Watts Water Technologies in a research note on Friday, July 8th. They set a “neutral” rating on the stock. Finally, Janney Montgomery Scott initiated coverage on shares of Watts Water Technologies in a research note on Friday, September 16th. They set a “neutral” rating and a $63.00 price objective on the stock.
Shares of Watts Water Technologies (NYSE:WTS) traded up 1.13% on Wednesday, hitting $62.88. 140,290 shares of the stock were exchanged. Watts Water Technologies has a one year low of $44.51 and a one year high of $66.00. The firm’s 50 day moving average price is $63.94 and its 200 day moving average price is $59.82. The firm’s market cap is $2.15 billion.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.05. The business earned $371.10 million during the quarter, compared to analyst estimates of $367.14 million. Watts Water Technologies had a negative net margin of 6.88% and a positive return on equity of 11.85%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. Equities analysts anticipate that Watts Water Technologies will post $2.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a $0.18 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.16%. Watts Water Technologies’s payout ratio is currently -25.35%.
In other news, General Counsel Kenneth Robert Lepage sold 31,362 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $64.53, for a total value of $2,023,789.86. Following the transaction, the general counsel now directly owns 75,727 shares in the company, valued at approximately $4,886,663.31. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Elie Melhem sold 5,192 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $62.44, for a total transaction of $324,188.48. Following the completion of the transaction, the insider now owns 32,656 shares in the company, valued at $2,039,040.64. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Pictet Asset Management Ltd. purchased a new stake in shares of Watts Water Technologies during the first quarter valued at $25,972,000. TimesSquare Capital Management LLC purchased a new stake in shares of Watts Water Technologies during the second quarter valued at $24,928,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Watts Water Technologies by 45.7% in the first quarter. Adage Capital Partners GP L.L.C. now owns 461,456 shares of the company’s stock valued at $25,440,000 after buying an additional 144,747 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Watts Water Technologies by 4.2% in the second quarter. Vanguard Group Inc. now owns 2,223,809 shares of the company’s stock valued at $129,559,000 after buying an additional 89,676 shares in the last quarter. Finally, Impax Asset Management LTD increased its stake in shares of Watts Water Technologies by 5.3% in the second quarter. Impax Asset Management LTD now owns 1,597,537 shares of the company’s stock valued at $93,073,000 after buying an additional 79,740 shares in the last quarter. Institutional investors own 81.95% of the company’s stock.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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