Watts Water Technologies (NYSE:WTS) Stock Keeps Sector Perform Rating at Royal Bank Of Canada

Watts Water Technologies (NYSE:WTS)‘s stock had its “sector perform” rating reiterated by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $417.00 price target on the technology company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 15.96% from the company’s previous close.

A number of other brokerages have also weighed in on WTS. Weiss Ratings upgraded shares of Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Stifel Nicolaus lifted their price target 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. Barclays lifted their price target on shares of Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Robert W. Baird set a $405.00 price target on shares of Watts Water Technologies in a report on Friday, August 7th. Finally, TD Cowen lifted their price target on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Watts Water Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $371.90.

Watts Water Technologies Trading Up 0.8%

NYSE WTS traded up $2.92 during mid-day trading on Wednesday, reaching $359.62. 94,376 shares of the stock were exchanged, compared to its average volume of 260,461. Watts Water Technologies has a 1-year low of $260.00 and a 1-year high of $394.54. The business’s fifty day simple moving average is $362.13 and its 200 day simple moving average is $338.04. The stock has a market capitalization of $12.01 billion, a PE ratio of 31.41, a PEG ratio of 3.46 and a beta of 1.15. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $725.99 million. During the same quarter last year, the business earned $3.09 earnings per share. Watts Water Technologies’s revenue was up 18.6% compared to the same quarter last year. On average, research analysts anticipate that Watts Water Technologies will post 12.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Elie Melhem sold 1,096 shares of Watts Water Technologies stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total transaction of $394,066.80. Following the transaction, the insider owned 7,867 shares in the company, valued at $2,828,579.85. The trade was a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in Watts Water Technologies by 769.2% during the 2nd quarter. NewEdge Advisors LLC now owns 113 shares of the technology company’s stock worth $44,000 after buying an additional 100 shares during the period. Assetmark Inc. increased its position in shares of Watts Water Technologies by 211.3% in the 1st quarter. Assetmark Inc. now owns 165 shares of the technology company’s stock worth $48,000 after purchasing an additional 112 shares during the last quarter. Costello Asset Management INC increased its position in shares of Watts Water Technologies by 900.0% in the 1st quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock worth $87,000 after purchasing an additional 270 shares during the last quarter. Blue Trust Inc. increased its position in shares of Watts Water Technologies by 352.9% in the 1st quarter. Blue Trust Inc. now owns 317 shares of the technology company’s stock worth $92,000 after purchasing an additional 247 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Watts Water Technologies by 11.4% in the 2nd quarter. GAMMA Investing LLC now owns 478 shares of the technology company’s stock worth $187,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.