Watts Water Technologies, Inc. (NYSE:WTS) has earned an average rating of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $71.60.

A number of equities research analysts have recently issued reports on the stock. Boenning Scattergood reissued a “buy” rating on shares of Watts Water Technologies in a research report on Monday, November 20th. Cowen reissued a “hold” rating and issued a $58.00 target price on shares of Watts Water Technologies in a research report on Thursday, September 28th. Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Tuesday, October 3rd. Robert W. Baird upped their price objective on shares of Watts Water Technologies from $71.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd.

Shares of Watts Water Technologies (WTS) opened at $73.75 on Monday. The stock has a market cap of $2,518.41, a PE ratio of 25.26, a PEG ratio of 2.04 and a beta of 1.15. Watts Water Technologies has a 52-week low of $59.15 and a 52-week high of $74.95. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.70.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.03. The company had revenue of $347.70 million during the quarter, compared to analysts’ expectations of $361.22 million. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. Watts Water Technologies’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. sell-side analysts forecast that Watts Water Technologies will post 3.01 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.19 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.03%. Watts Water Technologies’s dividend payout ratio is 28.15%.

In related news, insider Elie Melhem sold 2,545 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $70.48, for a total transaction of $179,371.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its stake in Watts Water Technologies by 10.7% during the second quarter. Victory Capital Management Inc. now owns 597,983 shares of the technology company’s stock worth $37,793,000 after acquiring an additional 57,894 shares in the last quarter. AHL Partners LLP raised its stake in Watts Water Technologies by 47.6% during the second quarter. AHL Partners LLP now owns 60,511 shares of the technology company’s stock worth $3,824,000 after acquiring an additional 19,513 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Watts Water Technologies by 5.4% during the second quarter. Goldman Sachs Group Inc. now owns 719,108 shares of the technology company’s stock worth $45,448,000 after acquiring an additional 36,723 shares in the last quarter. Legal & General Group Plc raised its stake in Watts Water Technologies by 8.7% during the second quarter. Legal & General Group Plc now owns 54,436 shares of the technology company’s stock worth $3,440,000 after acquiring an additional 4,375 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Watts Water Technologies by 4.7% during the second quarter. California Public Employees Retirement System now owns 73,000 shares of the technology company’s stock worth $4,614,000 after acquiring an additional 3,300 shares in the last quarter. 77.71% of the stock is owned by hedge funds and other institutional investors.

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Watts Water Technologies Company Profile

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.

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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