Watts Water Technologies Inc. (WTS) Given Consensus Rating of “Hold” by Brokerages
Watts Water Technologies Inc. (NYSE:WTS) has been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the firm. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $61.25.
WTS has been the topic of several analyst reports. TheStreet raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. Northcoast Research initiated coverage on shares of Watts Water Technologies in a report on Friday, July 8th. They issued a “neutral” rating on the stock. Finally, Janney Montgomery Scott initiated coverage on shares of Watts Water Technologies in a report on Friday, September 16th. They issued a “neutral” rating and a $63.00 price target on the stock.
Shares of Watts Water Technologies (NYSE:WTS) traded up 1.13% during trading on Wednesday, hitting $62.88. 140,290 shares of the stock traded hands. The company’s market cap is $2.15 billion. Watts Water Technologies has a 1-year low of $44.51 and a 1-year high of $66.00. The company has a 50 day moving average of $63.94 and a 200-day moving average of $59.82.
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Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. The firm had revenue of $371.10 million for the quarter, compared to analyst estimates of $367.14 million. Watts Water Technologies had a negative net margin of 6.88% and a positive return on equity of 11.85%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. On average, equities analysts anticipate that Watts Water Technologies will post $2.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.16%. Watts Water Technologies’s dividend payout ratio is presently -25.35%.
In related news, General Counsel Kenneth Robert Lepage sold 31,362 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $64.53, for a total transaction of $2,023,789.86. Following the transaction, the general counsel now owns 75,727 shares in the company, valued at approximately $4,886,663.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Elie Melhem sold 5,192 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $62.44, for a total transaction of $324,188.48. Following the transaction, the insider now owns 32,656 shares in the company, valued at approximately $2,039,040.64. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. bought a new position in shares of Watts Water Technologies during the second quarter valued at about $100,000. Tower Research Capital LLC TRC increased its position in shares of Watts Water Technologies by 1,543.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,808 shares of the company’s stock valued at $105,000 after buying an additional 1,698 shares during the period. Bank of Montreal Can bought a new position in shares of Watts Water Technologies during the second quarter valued at about $118,000. Public Employees Retirement System of Ohio increased its position in shares of Watts Water Technologies by 2.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,203 shares of the company’s stock valued at $128,000 after buying an additional 45 shares during the period. Finally, Clean Yield Group increased its position in shares of Watts Water Technologies by 8.3% in the second quarter. Clean Yield Group now owns 2,600 shares of the company’s stock valued at $151,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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