Robert W. Baird Reiterates Hold Rating for Watts Water Technologies (WTS)
Watts Water Technologies (NYSE:WTS)‘s stock had its “hold” rating restated by analysts at Robert W. Baird in a research report issued on Wednesday. They presently have a $80.00 price target on the technology company’s stock. Robert W. Baird’s target price would indicate a potential upside of 4.99% from the stock’s previous close.
WTS has been the subject of several other research reports. Boenning Scattergood reissued a “buy” rating on shares of Watts Water Technologies in a research note on Monday, November 20th. TheStreet lowered shares of Watts Water Technologies from a “b+” rating to a “c+” rating in a research note on Monday. Stifel Nicolaus reissued a “buy” rating and issued a $90.00 price objective (down previously from $95.00) on shares of Watts Water Technologies in a research note on Wednesday. Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Saturday. Finally, Northcoast Research set a $90.00 price objective on shares of Watts Water Technologies and gave the company a “buy” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $78.00.
Shares of Watts Water Technologies (NYSE:WTS) traded up $0.60 during mid-day trading on Wednesday, reaching $76.20. 161,084 shares of the company’s stock traded hands, compared to its average volume of 121,341. 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 has a one year low of $59.15 and a one year high of $82.35. The stock has a market capitalization of $2,526.95, a price-to-earnings ratio of 35.85, a PEG ratio of 1.79 and a beta of 1.13.
In related news, insider Elie Melhem sold 2,545 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $70.48, for a total value of $179,371.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert J. Pagano, Jr. sold 3,951 shares of Watts Water Technologies stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $73.09, for a total transaction of $288,778.59. Following the completion of the transaction, the chief executive officer now owns 137,474 shares of the company’s stock, valued at approximately $10,047,974.66. The disclosure for this sale can be found here. Insiders sold 18,348 shares of company stock valued at $1,339,628 in the last quarter. 1.10% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake in Watts Water Technologies by 1.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 754,329 shares of the technology company’s stock worth $57,292,000 after acquiring an additional 11,386 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new position in Watts Water Technologies in the fourth quarter worth approximately $821,000. Deutsche Bank AG lifted its stake in Watts Water Technologies by 32.1% in the fourth quarter. Deutsche Bank AG now owns 336,741 shares of the technology company’s stock worth $25,572,000 after acquiring an additional 81,845 shares during the last quarter. Natixis Asset Management lifted its stake in Watts Water Technologies by 15.4% in the fourth quarter. Natixis Asset Management now owns 116,660 shares of the technology company’s stock worth $8,860,000 after acquiring an additional 15,592 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Watts Water Technologies by 5.3% in the fourth quarter. Renaissance Technologies LLC now owns 299,800 shares of the technology company’s stock worth $22,770,000 after acquiring an additional 15,065 shares during the last quarter. Institutional investors own 78.21% of the company’s stock.
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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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