Watts Water Technologies (NYSE:WTS) Share Price Breaks Above 200 Day Moving Average – Should You Sell?

Shares of Watts Water Technologies, Inc. (NYSE:WTS) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $334.68 and traded as high as $366.19. Watts Water Technologies shares last traded at $362.0630, with a volume of 148,087 shares traded.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WTS shares. Barclays boosted their target price on shares of Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, September 14th. Royal Bank Of Canada lifted their price target on shares of Watts Water Technologies from $350.00 to $417.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Stifel Nicolaus upped their price objective on shares of Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $374.00 price objective on shares of Watts Water Technologies in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $367.70.

Watts Water Technologies Trading Down 0.3%

The business has a fifty day moving average of $363.45 and a 200-day moving average of $335.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66. The company has a market capitalization of $11.59 billion, a P/E ratio of 30.33, a PEG ratio of 3.52 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The firm had revenue of $763.20 million for the quarter, compared to the consensus estimate of $725.99 million. During the same quarter in the prior year, the company posted $3.09 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. Analysts anticipate that Watts Water Technologies, Inc. will post 12.88 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Watts Water Technologies’s dividend payout ratio is currently 22.01%.

Insider Activity

In related news, Director Joseph Noonan sold 3,650 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Elie Melhem sold 1,096 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the sale, the insider directly owned 7,867 shares of the company’s stock, valued at $2,828,579.85. This represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of WTS. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Watts Water Technologies by 20,071.4% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock worth $40,989,000 after buying an additional 140,500 shares during the last quarter. Squarepoint Ops LLC increased its stake in shares of Watts Water Technologies by 8,421.5% during the 2nd quarter. Squarepoint Ops LLC now owns 104,815 shares of the technology company’s stock worth $41,030,000 after purchasing an additional 103,585 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Watts Water Technologies by 79.8% in the 1st quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company’s stock worth $63,525,000 after purchasing an additional 97,115 shares during the period. E. Ohman J or Asset Management AB lifted its stake in Watts Water Technologies by 414.8% in the first quarter. E. Ohman J or Asset Management AB now owns 64,549 shares of the technology company’s stock valued at $18,738,000 after purchasing an additional 52,010 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Watts Water Technologies by 58.7% during the first quarter. Renaissance Technologies LLC now owns 135,140 shares of the technology company’s stock valued at $39,230,000 after purchasing an additional 49,960 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs and manufactures products that help manage the safety, efficiency, and quality of water in residential, commercial, institutional, and industrial systems. Its offerings are used in plumbing, heating, water distribution, and drainage applications.

The company’s product portfolio includes backflow prevention devices, pressure regulators, safety and relief valves, water quality and conditioning equipment, leak detection products, drainage systems, and hydronic and HVAC components.