Watts Water Technologies, Inc. (WTS) Research Coverage Started at Stifel Nicolaus
Stifel Nicolaus assumed coverage on shares of Watts Water Technologies, Inc. (NYSE:WTS) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $72.00 price objective on the technology company’s stock.
WTS has been the topic of a number of other research reports. Boenning Scattergood restated an outperform rating on shares of Watts Water Technologies in a report on Tuesday, September 5th. BidaskClub cut Watts Water Technologies from a sell rating to a strong sell rating in a report on Friday, August 25th. Northcoast Research upgraded Watts Water Technologies from a neutral rating to a buy rating and set a $79.00 price target on the stock in a report on Monday. Finally, Oppenheimer Holdings, Inc. restated a hold rating on shares of Watts Water Technologies in a report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $72.33.
Watts Water Technologies (WTS) opened at 68.45 on Monday. The stock has a market cap of $2.34 billion, a P/E ratio of 26.74 and a beta of 1.06. Watts Water Technologies has a 52-week low of $58.35 and a 52-week high of $71.05. The stock has a 50 day moving average price of $63.54 and a 200 day moving average price of $62.76.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The business had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $379.51 million. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. On average, equities research analysts forecast that Watts Water Technologies will post $2.99 EPS for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Wednesday, August 30th. Watts Water Technologies’s dividend payout ratio is currently 29.69%.
In related news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $62.11, for a total value of $205,335.66. Following the sale, 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 SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of WTS. BlackRock Inc. lifted its stake in Watts Water Technologies by 14,402.8% in the 1st quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after buying an additional 3,541,642 shares in the last quarter. Impax Asset Management LTD lifted its stake in Watts Water Technologies by 28.2% in the 1st quarter. Impax Asset Management LTD now owns 2,018,429 shares of the technology company’s stock valued at $125,846,000 after buying an additional 444,528 shares in the last quarter. Vanguard Group Inc. lifted its stake in Watts Water Technologies by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock valued at $161,541,000 after buying an additional 205,883 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Watts Water Technologies by 139.1% in the 2nd quarter. Renaissance Technologies LLC now owns 206,800 shares of the technology company’s stock valued at $13,070,000 after buying an additional 120,300 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Watts Water Technologies by 24.6% in the 1st quarter. Victory Capital Management Inc. now owns 540,089 shares of the technology company’s stock valued at $33,674,000 after buying an additional 106,590 shares in the last quarter. 77.64% of the stock is currently 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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