Watts Water Technologies, Inc. (NYSE:WTS) Receives Consensus Rating of “Hold” from Analysts
Shares of Watts Water Technologies, Inc. (NYSE:WTS) have been given an average rating of “Hold” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $64.50.
A number of equities research analysts have issued reports on WTS shares. BidaskClub upgraded shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a research note on Monday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, May 4th. Finally, Zacks Investment Research upgraded shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th.
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In other Watts Water Technologies news, insider Elie Melhem sold 1,281 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $64.42, for a total transaction of $82,522.02. Following the sale, the insider now directly owns 29,493 shares in the company, valued at $1,899,939.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of 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 worth $222,353,000 after buying an additional 3,541,642 shares during the last quarter. Impax Asset Management LTD increased its stake in shares of 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 worth $125,846,000 after buying an additional 444,528 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 worth $161,541,000 after buying an additional 205,883 shares during the last quarter. Norges Bank purchased a new stake in shares of Watts Water Technologies during the fourth quarter worth about $12,800,000. Finally, Victory Capital Management Inc. increased its stake in shares of Watts Water Technologies by 24.6% in the first quarter. Victory Capital Management Inc. now owns 540,089 shares of the technology company’s stock worth $33,674,000 after buying an additional 106,590 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.
Shares of Watts Water Technologies (WTS) opened at 62.35 on Friday. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 23.98 and a beta of 1.07. The stock’s 50 day moving average is $62.86 and its 200 day moving average is $63.42. Watts Water Technologies has a 12 month low of $56.30 and a 12 month high of $71.05.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Thursday, May 4th. The technology company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.05. Watts Water Technologies had a net margin of 6.40% and a return on equity of 12.75%. The business had revenue of $347.20 million for the quarter, compared to the consensus estimate of $343.79 million. During the same period in the prior year, the company posted $0.57 earnings per share. Watts Water Technologies’s revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that Watts Water Technologies will post $2.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.22%. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, May 31st. Watts Water Technologies’s dividend payout ratio is presently 29.23%.
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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