Watts Water Technologies (NYSE:WTS) Stock Price Up 6.9% – Should You Buy?

Shares of Watts Water Technologies, Inc. (NYSE:WTS) traded up 6.9% during trading on Tuesday . The company traded as high as $381.81 and last traded at $383.5220. 34,925 shares traded hands during trading, a decline of 88% from the average daily volume of 286,663 shares. The stock had previously closed at $358.93.

Analysts Set New Price Targets

WTS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued 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 upgraded Watts Water Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $317.00 to $414.00 in a research note on Tuesday. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Royal Bank Of Canada increased their price objective on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $340.22.

Watts Water Technologies Trading Up 8.1%

The firm has a market capitalization of $12.95 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 3.19 and a beta of 1.19. The firm has a fifty day simple moving average of $314.38 and a two-hundred day simple moving average of $304.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.72 and a quick ratio of 1.62.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.72 by $0.32. The company had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.37 EPS. On average, equities research analysts anticipate that Watts Water Technologies, Inc. will post 11.9 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 Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.6%. Watts Water Technologies’s payout ratio is presently 23.06%.

Insider Buying and Selling at Watts Water Technologies

In other news, Director Michael J. Dubose sold 398 shares of the business’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 transaction, the director owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction 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 transaction, the insider owned 8,963 shares of the company’s stock, valued at $2,697,863. This trade represents a 20.12% 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 insiders.

Hedge Funds Weigh In On Watts Water Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of WTS. Wexford Capital LP bought a new stake in Watts Water Technologies in the 3rd quarter worth approximately $26,000. Acumen Wealth Advisors LLC purchased a new position in Watts Water Technologies in the 4th quarter worth $28,000. Clearstead Advisors LLC boosted its position in Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after buying an additional 43 shares during the period. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies during the third quarter valued at about $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Watts Water Technologies in the 4th quarter valued at about $29,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

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.