Watts Water Technologies (NYSE:WTS) Stock Price Target Lowered at Barclays

Watts Water Technologies (NYSE:WTS) had its price target trimmed by Barclays from $425.00 to $424.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other brokerages have also commented on WTS. Stifel Nicolaus set a $445.00 target price on Watts Water Technologies in a research report on Monday, October 19th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $417.00 price target on shares of Watts Water Technologies in a research note on Wednesday, October 14th. Wall Street Zen lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. KeyCorp increased their price target on Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Robert W. Baird set a $405.00 price objective on shares of Watts Water Technologies in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.80.

Watts Water Technologies Trading Down 0.2%

NYSE WTS traded down $0.68 during mid-day trading on Friday, reaching $346.79. 401,308 shares of the stock were exchanged, compared to its average volume of 263,042. The stock has a market cap of $11.58 billion, a P/E ratio of 26.00, a P/E/G ratio of 3.45 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. Watts Water Technologies has a one year low of $262.64 and a one year high of $394.54. The stock has a 50 day simple moving average of $355.42 and a 200-day simple moving average of $332.55.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, November 4th. The technology company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.26. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $692.57 million. During the same quarter in the prior year, the firm posted $2.50 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, analysts anticipate that Watts Water Technologies will post 12.87 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, December 1st. Watts Water Technologies’s dividend payout ratio is 18.89%.

Insider Activity

In related news, insider Elie Melhem sold 1,096 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $359.55, for a total transaction of $394,066.80. Following the transaction, the insider directly owned 7,867 shares of the company’s stock, valued at approximately $2,828,579.85. This represents a 12.23% 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 Joseph T. Noonan sold 3,650 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

Hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in shares of Watts Water Technologies by 6.7% in the 1st quarter. First Trust Advisors LP now owns 545,404 shares of the technology company’s stock worth $158,325,000 after purchasing an additional 34,381 shares in the last quarter. Lazard Asset Management LLC increased its stake in Watts Water Technologies by 79.8% during the 1st quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company’s stock valued at $63,525,000 after purchasing an additional 97,115 shares in the last quarter. Squarepoint Ops LLC increased its stake in Watts Water Technologies by 8,421.5% during the 2nd quarter. Squarepoint Ops LLC now owns 104,815 shares of the technology company’s stock valued at $41,030,000 after purchasing an additional 103,585 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Watts Water Technologies by 20,071.4% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock worth $40,989,000 after buying an additional 140,500 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Watts Water Technologies by 58.7% during the first quarter. Renaissance Technologies LLC now owns 135,140 shares of the technology company’s stock worth $39,230,000 after buying an additional 49,960 shares during 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.