Watts Water Technologies, Inc. (NYSE:WTS) Receives $334.11 Average Price Target from Analysts

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have received an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $334.1111.

A number of equities research analysts have recently commented on WTS shares. Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $320.00 to $389.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $339.00 target price on shares of Watts Water Technologies in a research note on Friday, February 13th. The Goldman Sachs Group boosted their price target on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. KeyCorp raised their price objective on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Finally, Barclays upped their target price on Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th.

Insider Activity at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 6,814 shares of Watts Water Technologies stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $272.32, for a total value of $1,855,588.48. Following the transaction, the insider owned 15,000 shares in the company, valued at approximately $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of Watts Water Technologies stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total value of $5,258,562.46. Following the completion of the transaction, the chief executive officer owned 191,202 shares in the company, valued at $62,582,326.62. The trade was a 7.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 28,510 shares of company stock worth $8,895,030. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Watts Water Technologies

A number of large investors have recently modified their holdings of the company. MTM Investment Management LLC purchased a new stake in shares of Watts Water Technologies during the 2nd quarter worth about $25,000. Wexford Capital LP acquired a new position in Watts Water Technologies during the third quarter valued at approximately $26,000. Acumen Wealth Advisors LLC purchased a new stake in Watts Water Technologies during the fourth quarter worth approximately $28,000. Clearstead Advisors LLC increased its position in shares of Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Watts Water Technologies in the 3rd quarter valued at $29,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $326.57 on Monday. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $297.43 and its 200 day moving average price is $283.45. Watts Water Technologies has a 52 week low of $177.59 and a 52 week high of $345.17. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.97 and a beta of 1.24.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The company had revenue of $625.10 million during the quarter, compared to the consensus estimate of $610.40 million. During the same quarter last year, the business posted $2.05 earnings per share. Watts Water Technologies’s revenue was up 15.7% compared to the same quarter last year. As a group, research analysts forecast that Watts Water Technologies will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a $0.52 dividend. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Friday, February 27th. Watts Water Technologies’s payout ratio is presently 20.45%.

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.