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

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $329.4444.

WTS has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Finally, Wall Street Zen lowered shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th.

Insider Activity at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total value of $123,232.74. Following the transaction, the director owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 2,257 shares of the stock in a transaction that occurred on 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 approximately $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

A number of hedge funds have recently bought and sold shares of the business. Advyzon Investment Management LLC raised its stake in shares of Watts Water Technologies by 3.8% in the fourth quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company’s stock valued at $233,000 after acquiring an additional 31 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Watts Water Technologies by 0.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company’s stock valued at $1,149,000 after acquiring an additional 32 shares during the period. C M Bidwell & Associates Ltd. raised its stake in shares of Watts Water Technologies by 5.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company’s stock valued at $179,000 after acquiring an additional 34 shares during the period. Centennial Wealth Advisory LLC raised its stake in shares of Watts Water Technologies by 3.8% in the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock valued at $279,000 after acquiring an additional 37 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of Watts Water Technologies by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company’s stock valued at $1,521,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Trading Up 5.4%

NYSE:WTS opened at $374.18 on Friday. The company has a 50-day moving average price of $312.09 and a 200-day moving average price of $303.52. Watts Water Technologies has a 12 month low of $242.77 and a 12 month high of $375.31. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The stock has a market cap of $12.49 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 3.15 and a beta of 1.19.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. During the same period last year, the company posted $2.37 EPS. Watts Water Technologies’s revenue was up 21.4% on a year-over-year basis. Equities analysts predict that Watts Water Technologies will post 11.9 EPS for the current year.

Watts Water Technologies Dividend Announcement

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

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.