Watts Water Technologies (NYSE:WTS) Hits New 1-Year High – What’s Next?

Shares of Watts Water Technologies, Inc. (NYSE:WTS) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $351.57 and last traded at $349.9490, with a volume of 333139 shares trading hands. The stock had previously closed at $343.89.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WTS shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 27th. Stifel Nicolaus set a $379.00 target price on Watts Water Technologies in a report on Friday, May 8th. Royal Bank Of Canada raised their target price on Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $329.44.

Watts Water Technologies Stock Performance

The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. The stock has a market cap of $11.82 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 3.03 and a beta of 1.19. The firm’s 50-day moving average is $310.77 and its two-hundred day moving average is $302.80.

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

Watts Water Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is 23.06%.

Insider Transactions at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the sale, the director owned 1,814 shares in the company, valued at approximately $561,668.82. This represents a 17.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 2,257 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the transaction, the insider directly owned 8,963 shares in the company, valued at approximately $2,697,863. This represents a 20.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Watts Water Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTS. Integrated Wealth Concepts LLC raised its position in shares of Watts Water Technologies by 10.2% in the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock valued at $385,000 after purchasing an additional 174 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Watts Water Technologies by 80.2% during the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after buying an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after buying an additional 7,537 shares during the period. Sivia Capital Partners LLC acquired a new position in Watts Water Technologies in the 2nd quarter valued at $219,000. Finally, Cetera Investment Advisers grew its stake in Watts Water Technologies by 43.2% in the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock valued at $426,000 after buying an additional 523 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 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.