Watts Water Technologies (NYSE:WTS) Rating Lowered to Buy at Wall Street Zen

Watts Water Technologies (NYSE:WTS) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Sunday.

WTS has been the subject of a number of other reports. Weiss Ratings restated a “buy (b+)” rating on shares of Watts Water Technologies in a report on Tuesday, October 14th. Stifel Nicolaus boosted their price objective on Watts Water Technologies from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Zacks Research lowered Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Barclays started coverage on Watts Water Technologies in a research report on Friday, September 19th. They issued an “equal weight” rating and a $287.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Watts Water Technologies presently has an average rating of “Hold” and an average price target of $253.80.

Watts Water Technologies Trading Down 0.9%

Shares of WTS stock opened at $276.13 on Friday. Watts Water Technologies has a 12 month low of $177.59 and a 12 month high of $287.89. The company has a market cap of $9.21 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 3.34 and a beta of 1.13. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $278.76 and its two-hundred day moving average is $253.39.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, August 6th. The technology company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.41. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The business had revenue of $643.70 million during the quarter, compared to analysts’ expectations of $612.15 million. During the same period in the previous year, the company earned $2.46 earnings per share. Watts Water Technologies’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts predict that Watts Water Technologies will post 9.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Joseph T. Noonan sold 713 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the transaction, the director directly owned 1,194 shares of the company’s stock, valued at $327,693.30. This trade represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Watts Water Technologies

A number of institutional investors have recently added to or reduced their stakes in WTS. GAMMA Investing LLC raised its holdings in shares of Watts Water Technologies by 80.5% in the 1st quarter. GAMMA Investing LLC now owns 278 shares of the technology company’s stock worth $57,000 after buying an additional 124 shares in the last quarter. State of Alaska Department of Revenue grew its position in Watts Water Technologies by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 3,207 shares of the technology company’s stock valued at $653,000 after acquiring an additional 85 shares during the period. Diversified Trust Co raised its stake in Watts Water Technologies by 3.2% during the first quarter. Diversified Trust Co now owns 4,376 shares of the technology company’s stock worth $892,000 after acquiring an additional 136 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Watts Water Technologies by 0.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 112,230 shares of the technology company’s stock valued at $23,136,000 after acquiring an additional 441 shares during the period. Finally, KBC Group NV boosted its stake in shares of Watts Water Technologies by 0.5% in the 1st quarter. KBC Group NV now owns 324,669 shares of the technology company’s stock valued at $66,207,000 after purchasing an additional 1,662 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.