Watts Water Technologies, Inc. (WTS) Downgraded to Strong Sell at BidaskClub
BidaskClub lowered shares of Watts Water Technologies, Inc. (NYSE:WTS) from a sell rating to a strong sell rating in a research report sent to investors on Friday.
Separately, Oppenheimer Holdings, Inc. reissued a hold rating on shares of Watts Water Technologies in a research note on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Watts Water Technologies currently has a consensus rating of Hold and a consensus price target of $64.50.
Shares of Watts Water Technologies (WTS) opened at 60.70 on Friday. Watts Water Technologies has a 1-year low of $58.35 and a 1-year high of $71.05. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 23.71 and a beta of 1.07. The stock has a 50 day moving average price of $63.97 and a 200-day moving average price of $62.90.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The business had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $379.51 million. During the same quarter in the prior year, the company posted $0.75 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts forecast that Watts Water Technologies will post $2.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.25%. Watts Water Technologies’s dividend payout ratio (DPR) is 29.69%.
In related news, insider Elie Melhem sold 3,306 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of the transaction, the insider now owns 32,128 shares of the company’s stock, valued at approximately $1,995,470.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock worth $222,353,000 after buying an additional 3,541,642 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Watts Water Technologies by 9.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 172,155 shares of the technology company’s stock worth $10,734,000 after buying an additional 14,482 shares during the last quarter. Schroder Investment Management Group boosted its position in Watts Water Technologies by 71.0% in the first quarter. Schroder Investment Management Group now owns 47,829 shares of the technology company’s stock worth $2,985,000 after buying an additional 19,851 shares during the last quarter. Morgan Stanley boosted its position in Watts Water Technologies by 0.9% in the first quarter. Morgan Stanley now owns 162,153 shares of the technology company’s stock worth $10,110,000 after buying an additional 1,439 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in Watts Water Technologies by 3.8% in the first quarter. Thrivent Financial For Lutherans now owns 15,700 shares of the technology company’s stock worth $979,000 after buying an additional 580 shares during the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.
About Watts Water Technologies
Watts Water Technologies, Inc 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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