Watts Water Technologies (NYSE:WTS)‘s stock had its “neutral” rating reissued by equities research analysts at Boenning Scattergood in a research note issued to investors on Thursday.
Several other equities analysts also recently weighed in on the stock. Northcoast Research reiterated a “buy” rating and issued a $105.00 target price on shares of Watts Water Technologies in a research note on Friday. Stifel Nicolaus lifted their target price on shares of Watts Water Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday. Seaport Global Securities reiterated a “hold” rating and issued a $83.00 target price on shares of Watts Water Technologies in a research note on Thursday, August 2nd. Robert W. Baird reiterated a “hold” rating and issued a $82.00 target price on shares of Watts Water Technologies in a research note on Friday, July 20th. Finally, Zacks Investment Research downgraded shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $85.33.
Watts Water Technologies opened at $85.75 on Thursday, according to Marketbeat Ratings. The stock has a market capitalization of $2.95 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.29 and a quick ratio of 1.38. Watts Water Technologies has a twelve month low of $59.15 and a twelve month high of $93.35.
Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, August 1st. The technology company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.04. The firm had revenue of $407.90 million during the quarter, compared to the consensus estimate of $403.60 million. Watts Water Technologies had a net margin of 5.83% and a return on equity of 13.88%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.83 earnings per share. equities research analysts anticipate that Watts Water Technologies will post 3.71 EPS for the current fiscal year.
In other news, General Counsel Kenneth Robert Lepage sold 6,201 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $85.00, for a total value of $527,085.00. Following the completion of the transaction, the general counsel now directly owns 56,959 shares in the company, valued at $4,841,515. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elie Melhem sold 3,449 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $77.11, for a total transaction of $265,952.39. Following the sale, the insider now owns 27,519 shares of the company’s stock, valued at $2,121,990.09. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in WTS. BlackRock Inc. lifted its position in Watts Water Technologies by 14,402.8% during the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after purchasing an additional 3,541,642 shares during the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of Watts Water Technologies in the 1st quarter worth approximately $25,972,000. Impax Asset Management LTD lifted its holdings in shares of Watts Water Technologies by 28.2% in the 1st quarter. Impax Asset Management LTD now owns 2,018,429 shares of the technology company’s stock worth $125,846,000 after acquiring an additional 444,528 shares during the last quarter. Norges Bank bought a new stake in shares of Watts Water Technologies in the 4th quarter worth approximately $13,700,000. Finally, GCA Investment Management LLC bought a new stake in shares of Watts Water Technologies in the 4th quarter worth approximately $12,813,000. Institutional investors and hedge funds own 76.34% of the company’s stock.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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