Watts Water Technologies Inc. (WTS) Receives $61.25 Consensus PT from Analysts
Shares of Watts Water Technologies Inc. (NYSE:WTS) have been given a consensus rating of “Hold” by the ten analysts that are covering the stock. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $61.25.
Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Janney Montgomery Scott assumed 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 for the company.
Watts Water Technologies (NYSE:WTS) opened at 68.75 on Wednesday. The company has a 50 day moving average of $63.33 and a 200-day moving average of $61.19. The stock’s market capitalization is $2.35 billion. Watts Water Technologies has a 52-week low of $44.51 and a 52-week high of $69.85.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Watts Water Technologies had a negative net margin of 3.64% and a positive return on equity of 12.41%. The company earned $341 million during the quarter, compared to the consensus estimate of $352.64 million. During the same period in the previous year, the firm earned $0.67 earnings per share. Watts Water Technologies’s revenue for the quarter was down 6.9% on a year-over-year basis. Equities research analysts anticipate that Watts Water Technologies will post $2.67 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, December 2nd will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.72 annualized dividend and a yield of 1.05%. Watts Water Technologies’s dividend payout ratio is presently -48.65%.
In related news, insider Elie Melhem sold 6,143 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $67.78, for a total value of $416,372.54. Following the sale, the insider now directly owns 32,464 shares of the company’s stock, valued at $2,200,409.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard J. Cathcart sold 1,000 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $68.47, for a total transaction of $68,470.00. Following the completion of the sale, the director now directly owns 18,032 shares in the company, valued at $1,234,651.04. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC boosted its stake in Watts Water Technologies by 9.6% in the second quarter. Essex Investment Management Co. LLC now owns 27,862 shares of the company’s stock valued at $1,623,000 after buying an additional 2,431 shares in the last quarter. Bank of Montreal Can bought a new stake in Watts Water Technologies during the second quarter valued at about $118,000. John G Ullman & Associates Inc. boosted its stake in Watts Water Technologies by 28.4% in the second quarter. John G Ullman & Associates Inc. now owns 81,475 shares of the company’s stock valued at $4,747,000 after buying an additional 18,000 shares in the last quarter. Gray Financial Group GA ADV ADV bought a new stake in Watts Water Technologies during the second quarter valued at about $191,000. Finally, Capstone Asset Management Co. boosted its stake in Watts Water Technologies by 4.0% in the second quarter. Capstone Asset Management Co. now owns 8,646 shares of the company’s stock valued at $504,000 after buying an additional 330 shares in the last quarter. 83.17% of the stock is currently owned by hedge funds and other institutional investors.
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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