Watts Water Technologies (NYSE:WTS) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Watts Water Technologies (NYSE:WTS) from a buy rating to a strong-buy rating in a report released on Saturday.

A number of other analysts have also issued reports on WTS. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Stifel Nicolaus upped their target price on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Barclays boosted their target price on Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Friday. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Watts Water Technologies in a research note on Tuesday, October 14th. Finally, Zacks Research cut shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $264.25.

Watts Water Technologies Trading Up 3.7%

NYSE WTS traded up $9.73 on Friday, reaching $273.28. The stock had a trading volume of 251,615 shares, compared to its average volume of 191,307. 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 stock has a fifty day moving average price of $277.66 and a two-hundred day moving average price of $258.22. Watts Water Technologies has a 12-month low of $177.59 and a 12-month high of $287.89. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 3.27 and a beta of 1.17.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, November 5th. The technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.21. The business had revenue of $611.70 million during the quarter, compared to analysts’ expectations of $576.20 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.03 earnings per share. Watts Water Technologies has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Watts Water Technologies will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, December 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 21.47%.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph T. Noonan sold 713 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the transaction, the director directly owned 1,194 shares in the company, valued at $327,693.30. This represents a 37.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Watts Water Technologies

Several hedge funds have recently bought and sold shares of WTS. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Watts Water Technologies by 0.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,470,140 shares of the technology company’s stock valued at $503,711,000 after purchasing an additional 6,765 shares during the period. Boston Partners grew its holdings in Watts Water Technologies by 43.3% in the 1st quarter. Boston Partners now owns 905,783 shares of the technology company’s stock worth $184,708,000 after buying an additional 273,628 shares in the last quarter. Geode Capital Management LLC grew its holdings in Watts Water Technologies by 20.7% in the 2nd quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock worth $197,728,000 after buying an additional 138,034 shares in the last quarter. Mirova US LLC increased its position in Watts Water Technologies by 2.7% in the 2nd quarter. Mirova US LLC now owns 748,328 shares of the technology company’s stock valued at $184,006,000 after acquiring an additional 19,344 shares during the period. Finally, First Trust Advisors LP raised its stake in Watts Water Technologies by 0.9% during the 2nd quarter. First Trust Advisors LP now owns 545,724 shares of the technology company’s stock valued at $134,188,000 after acquiring an additional 4,689 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

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.