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

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $345.30.

WTS has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $358.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research note on Friday, May 8th. TD Cowen increased their price target on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Stifel Nicolaus lifted their price objective on Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a report on Monday. Finally, Royal Bank Of Canada upped their target price on Watts Water Technologies from $323.00 to $350.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th.

Insider Activity

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider directly owned 8,963 shares of the company’s stock, valued at $2,697,863. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the transaction, the director owned 1,814 shares of the company’s stock, valued at $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Boston Partners lifted its stake in Watts Water Technologies by 2.2% during the third quarter. Boston Partners now owns 907,336 shares of the technology company’s stock worth $253,211,000 after purchasing an additional 19,247 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Watts Water Technologies by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 832,148 shares of the technology company’s stock worth $229,721,000 after buying an additional 25,501 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Watts Water Technologies by 6.7% during the 1st quarter. First Trust Advisors LP now owns 545,404 shares of the technology company’s stock worth $158,325,000 after buying an additional 34,381 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Watts Water Technologies by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 522,624 shares of the technology company’s stock worth $144,261,000 after buying an additional 1,418 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Watts Water Technologies by 34.4% during the 3rd quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after buying an additional 120,090 shares during the last quarter. 95.02% of the stock is owned by institutional investors.

Watts Water Technologies Trading Down 0.0%

Shares of Watts Water Technologies stock opened at $341.36 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The firm has a 50-day moving average of $334.12 and a 200-day moving average of $313.90. Watts Water Technologies has a 52-week low of $249.06 and a 52-week high of $394.54. The stock has a market cap of $11.40 billion, a PE ratio of 31.23, a PEG ratio of 2.95 and a beta of 1.14.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. During the same period last year, the firm earned $2.37 earnings per share. Watts Water Technologies’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Watts Water Technologies will post 12.23 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 1st. Watts Water Technologies’s payout ratio is 23.06%.

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.