Watts Water Technologies, Inc. (NYSE:WTS) Given Consensus Rating of “Hold” by Brokerages

Watts Water Technologies, Inc. (NYSE:WTS) has received a consensus rating of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $264.25.

A number of research firms have issued reports on WTS. Zacks Research cut Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Finally, Barclays upped their price target on shares of Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a report on Friday, November 7th.

Insider Activity at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 6,994 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $278.65, for a total transaction of $1,948,878.10. Following the completion of the transaction, the insider directly owned 23,006 shares of the company’s stock, valued at approximately $6,410,621.90. This represents a 23.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 15,000 shares of company stock worth $4,128,936. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. World Investment Advisors grew its holdings in Watts Water Technologies by 1.4% in the 3rd quarter. World Investment Advisors now owns 2,648 shares of the technology company’s stock valued at $740,000 after buying an additional 37 shares in the last quarter. Texas Yale Capital Corp. raised its stake in shares of Watts Water Technologies by 4.4% during the third quarter. Texas Yale Capital Corp. now owns 940 shares of the technology company’s stock valued at $263,000 after acquiring an additional 40 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Watts Water Technologies by 0.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 6,457 shares of the technology company’s stock valued at $1,588,000 after buying an additional 40 shares during the last quarter. Journey Strategic Wealth LLC increased its position in shares of Watts Water Technologies by 4.3% during the third quarter. Journey Strategic Wealth LLC now owns 1,001 shares of the technology company’s stock worth $280,000 after buying an additional 41 shares during the period. Finally, IFP Advisors Inc increased its holdings in Watts Water Technologies by 15.9% in the third quarter. IFP Advisors Inc now owns 335 shares of the technology company’s stock worth $94,000 after purchasing an additional 46 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

Watts Water Technologies stock opened at $271.81 on Wednesday. The company has a market cap of $9.07 billion, a PE ratio of 29.23, a PEG ratio of 3.27 and a beta of 1.23. The company has a current ratio of 2.59, a quick ratio of 1.63 and a debt-to-equity ratio of 0.10. Watts Water Technologies has a 1 year low of $177.59 and a 1 year high of $287.89. The company’s 50-day moving average is $275.00 and its two-hundred day moving average is $264.55.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The company had revenue of $611.70 million for the quarter, compared to the consensus estimate of $576.20 million. During the same quarter in the prior year, the business posted $2.03 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Equities analysts anticipate that Watts Water Technologies will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 1st. Watts Water Technologies’s payout ratio is currently 21.47%.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.