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

Watts Water Technologies, Inc. (NYSE:WTS) has earned an average recommendation of “Hold” from the eleven research firms that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $329.4444.

A number of equities analysts have recently commented on WTS shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $358.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Barclays reduced their target price on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a research report on Monday, May 11th. Zacks Research lowered shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. The Goldman Sachs Group raised their target price on shares of Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, Stifel Nicolaus set a $379.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th.

Watts Water Technologies Stock Up 3.2%

Shares of NYSE WTS opened at $312.14 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62. The company has a market cap of $10.42 billion, a P/E ratio of 28.56, a PEG ratio of 2.69 and a beta of 1.20. Watts Water Technologies has a 1 year low of $237.15 and a 1 year high of $345.17. The firm has a 50-day simple moving average of $297.75 and a two-hundred day simple moving average of $294.85.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.32. The business had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.37 earnings per share. Research analysts anticipate that Watts Water Technologies will post 11.9 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. Watts Water Technologies’s dividend payout ratio (DPR) is 19.03%.

Insider Buying and Selling

In other news, Director Michael J. Dubose sold 332 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $301.70, for a total value of $100,164.40. Following the completion of the sale, the director owned 2,212 shares of the company’s stock, valued at approximately $667,360.40. This represents a 13.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the sale, the insider directly owned 8,963 shares of the company’s stock, valued at $2,697,863. The trade was a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,340 shares of company stock worth $1,001,905. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

A number of large investors have recently bought and sold shares of WTS. Wexford Capital LP bought a new position in Watts Water Technologies in the third quarter worth approximately $26,000. Acumen Wealth Advisors LLC bought a new position in Watts Water Technologies in the fourth quarter worth approximately $28,000. Clearstead Advisors LLC raised its stake in Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after buying an additional 43 shares in the last quarter. Advisory Services Network LLC bought a new position in Watts Water Technologies in the third quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. bought a new position in Watts Water Technologies in the fourth quarter worth approximately $29,000. Institutional investors own 95.02% of the company’s stock.

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.