Seaport Global Securities Reaffirms Neutral Rating for Watts Water Technologies, Inc. (WTS)
Several other equities research analysts have also issued reports on WTS. BidaskClub lowered shares of Watts Water Technologies from a hold rating to a sell rating in a research report on Monday, July 31st. Boenning Scattergood reiterated an outperform rating on shares of Watts Water Technologies in a research report on Tuesday, September 5th. Northcoast Research upgraded shares of Watts Water Technologies from a neutral rating to a buy rating and set a $79.00 target price for the company in a research report on Monday, September 18th. Stifel Nicolaus initiated coverage on shares of Watts Water Technologies in a research report on Monday, September 18th. They set a buy rating and a $72.00 target price for the company. Finally, Cowen and Company reiterated a hold rating and set a $58.00 target price on shares of Watts Water Technologies in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $72.83.
Shares of Watts Water Technologies (WTS) traded down $0.55 during trading on Friday, reaching $69.00. 176,650 shares of the company’s stock traded hands, compared to its average volume of 115,659. Watts Water Technologies has a twelve month low of $59.15 and a twelve month high of $71.05. The company has a market capitalization of $2,340.00, a price-to-earnings ratio of 23.82, a PEG ratio of 1.93 and a beta of 1.12. The company has a current ratio of 2.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The business had revenue of $347.70 million during the quarter, compared to analyst estimates of $361.22 million. During the same period in the previous year, the business posted $0.71 earnings per share. Watts Water Technologies’s revenue for the quarter was up 1.9% on a year-over-year basis. analysts anticipate that Watts Water Technologies will post 3.01 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.19 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.10%. Watts Water Technologies’s payout ratio is 28.25%.
In other news, insider Elie Melhem sold 3,306 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $62.11, for a total value of $205,335.66. Following the completion of the sale, the insider now directly owns 32,128 shares in the company, valued at approximately $1,995,470.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC raised its holdings in Watts Water Technologies by 44.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock valued at $109,000 after buying an additional 532 shares during the last quarter. Acrospire Investment Management LLC raised its holdings in Watts Water Technologies by 157.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock valued at $114,000 after buying an additional 1,100 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Watts Water Technologies by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after buying an additional 17 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in Watts Water Technologies during the 2nd quarter valued at $130,000. Finally, Quantbot Technologies LP raised its holdings in Watts Water Technologies by 823.9% during the 2nd quarter. Quantbot Technologies LP now owns 2,282 shares of the technology company’s stock valued at $144,000 after buying an additional 2,035 shares during the last quarter. Hedge funds and other institutional investors own 78.13% of the company’s stock.
Watts Water Technologies Company Profile
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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