Watts Water Technologies (NYSE:WTS) Reaches New 12-Month High – What’s Next?

Watts Water Technologies, Inc. (NYSE:WTS) hit a new 52-week high on Monday . The company traded as high as $375.89 and last traded at $357.4580, with a volume of 3897700 shares trading hands. The stock had previously closed at $359.26.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus set a $379.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Weiss Ratings cut shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Barclays raised shares of Watts Water Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $317.00 to $414.00 in a research report on Tuesday. Royal Bank Of Canada lifted their price objective on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $340.22.

Watts Water Technologies Stock Performance

The company has a market cap of $13.10 billion, a PE ratio of 35.89, a P/E/G ratio of 3.19 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The stock’s 50-day simple moving average is $316.16 and its 200 day simple moving average is $305.61.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.32. The business had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.37 earnings per share. As a group, equities analysts anticipate that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.63 per share. The ex-dividend date was Monday, June 1st. This represents a $2.52 annualized dividend and a yield of 0.6%. Watts Water Technologies’s payout ratio is presently 23.06%.

Insider Buying and Selling

In related news, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the transaction, the director owned 1,814 shares of the company’s stock, valued at $561,668.82. This represents a 17.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Elie Melhem sold 2,257 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the transaction, the insider owned 8,963 shares of the company’s stock, valued at $2,697,863. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in WTS. Wexford Capital LP acquired a new stake in shares of Watts Water Technologies during the 3rd quarter valued at approximately $26,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Watts Water Technologies in the 4th quarter worth approximately $28,000. Clearstead Advisors LLC increased its stake in Watts Water Technologies by 69.4% in the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC purchased a new position in Watts Water Technologies in the 3rd quarter valued at approximately $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Watts Water Technologies during the fourth quarter worth $29,000. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Company Profile

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.