Watts Water Technologies Inc (NYSE:WTS) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 360,700 shares, a drop of 12.7% from the June 30th total of 413,200 shares. Based on an average trading volume of 138,200 shares, the short-interest ratio is currently 2.6 days. Approximately 1.3% of the company’s shares are short sold.
A number of brokerages have issued reports on WTS. ValuEngine lowered shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Janney Montgomery Scott lowered shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and set a $93.26 price target on the stock. in a report on Tuesday, July 2nd. Zacks Investment Research lowered shares of Watts Water Technologies from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a report on Friday, May 31st. Finally, Stifel Nicolaus raised their price target on shares of Watts Water Technologies from $102.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $95.09.
Several large investors have recently bought and sold shares of WTS. Nuveen Asset Management LLC bought a new stake in shares of Watts Water Technologies in the second quarter worth approximately $21,810,000. Victory Capital Management Inc. grew its stake in shares of Watts Water Technologies by 14.7% in the second quarter. Victory Capital Management Inc. now owns 1,186,349 shares of the technology company’s stock worth $110,544,000 after acquiring an additional 151,683 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Watts Water Technologies by 16.4% in the second quarter. UBS Asset Management Americas Inc. now owns 26,698 shares of the technology company’s stock worth $2,488,000 after acquiring an additional 3,758 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Watts Water Technologies in the second quarter worth approximately $388,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Watts Water Technologies in the second quarter worth approximately $37,000. 74.99% of the stock is owned by hedge funds and other institutional investors.
NYSE:WTS opened at $91.12 on Friday. The company has a 50-day moving average price of $92.37 and a 200-day moving average price of $85.14. Watts Water Technologies has a 12 month low of $61.17 and a 12 month high of $94.93. The company has a current ratio of 1.86, a quick ratio of 1.14 and a debt-to-equity ratio of 0.26. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 2.84 and a beta of 1.21.
Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.01). Watts Water Technologies had a return on equity of 14.76% and a net margin of 8.08%. The company had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $416.26 million. During the same period in the prior year, the business posted $1.05 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts forecast that Watts Water Technologies will post 4.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.23 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.92 annualized dividend and a dividend yield of 1.01%. Watts Water Technologies’s dividend payout ratio is 24.60%.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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