Watts Water Technologies, Inc. (NYSE:WTS) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have been assigned an average rating of “Hold” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $334.1111.

Several equities analysts recently weighed in on WTS shares. KeyCorp lifted their target price on shares of Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. Wells Fargo & Company set a $275.00 price objective on Watts Water Technologies in a research note on Thursday, January 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $339.00 target price on shares of Watts Water Technologies in a research report on Friday, February 13th. Finally, TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th.

Watts Water Technologies Trading Down 0.9%

NYSE WTS opened at $293.92 on Friday. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 2.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51. Watts Water Technologies has a one year low of $177.59 and a one year high of $345.17. The company’s 50 day moving average price is $309.45 and its 200 day moving average price is $288.34.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a net margin of 13.98% and a return on equity of 18.55%. The company had revenue of $625.10 million during the quarter, compared to the consensus estimate of $610.40 million. During the same period in the previous year, the firm earned $2.05 earnings per share. Watts Water Technologies’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts predict that Watts Water Technologies will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a c) annualized dividend and a yield of 2.1%. Watts Water Technologies’s dividend payout ratio (DPR) is 20.45%.

Insider Activity at Watts Water Technologies

In other news, CEO Robert J. Pagano, Jr. sold 16,066 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the sale, the chief executive officer owned 191,202 shares in the company, valued at $62,582,326.62. This trade represents a 7.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Timothy P. Horne sold 7,500 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the transaction, the insider directly owned 7,500 shares in the company, valued at approximately $2,475,300. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 29,674 shares of company stock valued at $9,669,838. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Beacon Harbor Wealth Advisors Inc. bought a new position in Watts Water Technologies during the 3rd quarter valued at $6,444,000. Allianz Asset Management GmbH increased its position in shares of Watts Water Technologies by 17.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company’s stock worth $50,375,000 after purchasing an additional 27,093 shares during the last quarter. AE Wealth Management LLC increased its position in shares of Watts Water Technologies by 10.9% in the 3rd quarter. AE Wealth Management LLC now owns 138,293 shares of the technology company’s stock worth $38,622,000 after purchasing an additional 13,642 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Watts Water Technologies in the 3rd quarter valued at about $6,308,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Watts Water Technologies by 80.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,978 shares of the technology company’s stock valued at $1,949,000 after purchasing an additional 3,101 shares in the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Company Profile

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.