Watts Water Technologies (NYSE:WTS) Sets New 52-Week High – Time to Buy?

Watts Water Technologies, Inc. (NYSE:WTS) reached a new 52-week high during trading on Monday . The stock traded as high as $306.07 and last traded at $304.8120, with a volume of 88212 shares changing hands. The stock had previously closed at $299.31.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WTS shares. Royal Bank Of Canada assumed coverage on shares of Watts Water Technologies in a research report on Monday, January 5th. They issued a “sector perform” rating and a $288.00 price target for the company. Zacks Research upgraded shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Barclays boosted their target price on shares of Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Wells Fargo & Company set a $275.00 price target on shares of Watts Water Technologies in a research report on Thursday, January 8th. Finally, Jefferies Financial Group initiated coverage on Watts Water Technologies in a research note on Friday, December 12th. They set a “hold” rating and a $300.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $288.57.

Watts Water Technologies Stock Up 1.0%

The stock has a 50-day moving average of $285.56 and a 200 day moving average of $277.62. The company has a market capitalization of $10.24 billion, a PE ratio of 31.69, a P/E/G ratio of 2.83 and a beta of 1.24. The company has a quick ratio of 1.84, a current ratio of 2.83 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, November 5th. The technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.The firm had revenue of $611.70 million during the quarter, compared to the consensus estimate of $576.20 million. During the same quarter in the prior year, the company earned $2.03 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Sell-side analysts anticipate that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total value of $167,451.90. Following the sale, the chief accounting officer owned 13,412 shares of the company’s stock, valued at approximately $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Timothy P. Horne sold 6,814 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total transaction of $1,855,588.48. Following the transaction, the insider directly owned 15,000 shares of the company’s stock, valued at $4,084,800. This represents a 31.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,605 shares of company stock valued at $4,296,387 in the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Watts Water Technologies

Several hedge funds have recently made changes to their positions in the company. MTM Investment Management LLC bought a new stake in shares of Watts Water Technologies during the second quarter valued at about $25,000. Wexford Capital LP purchased a new position in Watts Water Technologies during the third quarter valued at approximately $26,000. Advisory Services Network LLC bought a new stake in Watts Water Technologies during the 3rd quarter worth approximately $29,000. Cullen Frost Bankers Inc. lifted its stake in Watts Water Technologies by 156.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 80 shares in the last quarter. Finally, Stance Capital LLC bought a new position in Watts Water Technologies in the 3rd quarter valued at $62,000. 95.02% of the stock is currently owned by institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.