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

Watts Water Technologies, Inc. (NYSE:WTS) has been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $279.25.

A number of research firms have recently weighed in on WTS. Jefferies Financial Group started coverage on Watts Water Technologies in a research report on Friday, December 12th. They set a “hold” rating and a $300.00 target price for the company. Barclays boosted their price target on Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Watts Water Technologies in a research report on Monday, December 15th. Wall Street Zen lowered shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Zacks Research cut shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th.

Watts Water Technologies Stock Up 0.3%

Shares of WTS opened at $284.55 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.84 and a debt-to-equity ratio of 0.10. Watts Water Technologies has a 12 month low of $177.59 and a 12 month high of $287.89. The firm’s 50 day moving average is $275.54 and its 200-day moving average is $269.03. The stock has a market capitalization of $9.49 billion, a PE ratio of 29.37, a P/E/G ratio of 3.02 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.The business 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 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. Equities research analysts forecast that Watts Water Technologies will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, December 1st. Watts Water Technologies’s payout ratio is currently 21.47%.

Insider Buying and Selling at Watts Water Technologies

In other news, CAO Virginia A. Halloran sold 605 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total transaction of $167,451.90. Following the completion of the transaction, the chief accounting officer owned 13,412 shares of the company’s stock, valued at approximately $3,712,173.36. The trade was a 4.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Timothy P. Horne sold 6,814 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total value of $1,855,588.48. Following the completion of the sale, the insider directly owned 15,000 shares in the company, valued at $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,605 shares of company stock valued at $4,296,387 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wexford Capital LP acquired a new stake in shares of Watts Water Technologies in the 3rd quarter valued at approximately $26,000. MTM Investment Management LLC acquired a new position in Watts Water Technologies during the 2nd quarter worth approximately $25,000. Advisory Services Network LLC acquired a new position in Watts Water Technologies during the 3rd quarter worth approximately $29,000. Cullen Frost Bankers Inc. lifted its stake in Watts Water Technologies by 156.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock valued at $32,000 after purchasing an additional 80 shares during the last quarter. Finally, Stance Capital LLC bought a new position in Watts Water Technologies in the 3rd quarter valued at approximately $62,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.