Watts Water Technologies Inc (WTS) Given Average Recommendation of “Hold” by Analysts
Shares of Watts Water Technologies Inc (NYSE:WTS) have earned an average recommendation of “Hold” from the eight research firms that are currently covering the stock. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $62.33.
A number of equities analysts have issued reports on WTS shares. Zacks Investment Research upgraded Watts Water Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, March 21st. Goldman Sachs Group Inc started coverage on Watts Water Technologies in a report on Wednesday, March 8th. They set a “neutral” rating and a $66.00 target price on the stock. TheStreet cut Watts Water Technologies from a “b” rating to a “c” rating in a report on Tuesday, January 17th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, May 4th.
Shares of Watts Water Technologies (NYSE:WTS) opened at 63.40 on Tuesday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 24.38 and a beta of 1.15. Watts Water Technologies has a one year low of $54.22 and a one year high of $71.05. The firm has a 50-day moving average of $61.80 and a 200-day moving average of $64.16.
Watts Water Technologies (NYSE:WTS) last issued its earnings results on Thursday, May 4th. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.05. Watts Water Technologies had a return on equity of 12.51% and a net margin of 6.02%. The firm had revenue of $347.20 million for the quarter, compared to analysts’ expectations of $343.79 million. During the same quarter last year, the business earned $0.57 earnings per share. The company’s revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Watts Water Technologies will post $2.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.76 dividend on an annualized basis and a yield of 1.20%. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.18. Watts Water Technologies’s dividend payout ratio (DPR) is 29.51%.
In other news, insider Elie Melhem sold 1,000 shares of Watts Water Technologies stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $61.75, for a total transaction of $61,750.00. Following the transaction, the insider now owns 30,039 shares in the company, valued at approximately $1,854,908.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kenneth Robert Lepage sold 10,147 shares of Watts Water Technologies stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $65.00, for a total value of $659,555.00. Following the transaction, the general counsel now owns 39,102 shares in the company, valued at approximately $2,541,630. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in WTS. BlackRock Inc. boosted its position in Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after buying an additional 3,541,642 shares during the period. Impax Asset Management LTD boosted its position in Watts Water Technologies by 28.2% in the first quarter. Impax Asset Management LTD now owns 2,018,429 shares of the technology company’s stock valued at $125,846,000 after buying an additional 444,528 shares during the period. Vanguard Group Inc. boosted its position in Watts Water Technologies by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock valued at $161,541,000 after buying an additional 205,883 shares during the period. Norges Bank acquired a new position in Watts Water Technologies during the fourth quarter valued at $12,800,000. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Watts Water Technologies by 16.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 772,637 shares of the technology company’s stock valued at $50,098,000 after buying an additional 107,021 shares during the period. Institutional investors and hedge funds own 81.74% of the company’s stock.
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About Watts Water Technologies
Watts Water Technologies, Inc 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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