Watts Water Technologies (NYSE:WTS) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

Watts Water Technologies, Inc. (NYSE:WTS)’s stock price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $356.88 and traded as high as $364.04. Watts Water Technologies shares last traded at $359.4210, with a volume of 384,715 shares.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WTS shares. Robert W. Baird set a $405.00 price objective on shares of Watts Water Technologies in a report on Friday, August 7th. KeyCorp increased their target price on shares of Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings raised shares of Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Barclays lifted their price target on shares of Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Wall Street Zen cut Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $371.90.

Watts Water Technologies Trading Up 1.2%

The stock has a market capitalization of $12.00 billion, a P/E ratio of 31.39, a P/E/G ratio of 3.45 and a beta of 1.13. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $356.88 and a two-hundred day moving average price of $331.73.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.32. The company had revenue of $763.20 million for the quarter, compared to analysts’ expectations of $725.99 million. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%. Watts Water Technologies’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the business earned $3.09 earnings per share. On average, analysts expect that Watts Water Technologies, Inc. will post 12.87 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio is currently 22.01%.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph Noonan sold 3,650 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total transaction of $1,291,078.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 1,096 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $359.55, for a total transaction of $394,066.80. Following the completion of the transaction, the insider directly owned 7,867 shares in the company, valued at approximately $2,828,579.85. This represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Watts Water Technologies

Several large investors have recently made changes to their positions in WTS. Ethic Inc. raised its position in Watts Water Technologies by 154.0% during the third quarter. Ethic Inc. now owns 6,401 shares of the technology company’s stock valued at $2,267,000 after purchasing an additional 3,881 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its stake in Watts Water Technologies by 8.6% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,563 shares of the technology company’s stock worth $554,000 after purchasing an additional 124 shares during the last quarter. Heritage Family Offices LLP bought a new stake in Watts Water Technologies during the third quarter worth $105,000. Kestra Advisory Services LLC lifted its stake in Watts Water Technologies by 470.1% during the third quarter. Kestra Advisory Services LLC now owns 3,877 shares of the technology company’s stock worth $1,373,000 after purchasing an additional 3,197 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Watts Water Technologies by 45.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 5,194 shares of the technology company’s stock valued at $1,840,000 after purchasing an additional 1,624 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.