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

Watts Water Technologies, Inc. (NYSE:WTS) has received a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $345.30.

A number of equities research analysts have issued reports on the company. TD Cowen upped their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Barclays upgraded Watts Water Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $317.00 to $414.00 in a report on Tuesday, June 30th. Robert W. Baird set a $330.00 price target on Watts Water Technologies in a report on Friday, May 8th. Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, KeyCorp lifted their price objective on shares of Watts Water Technologies from $360.00 to $380.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th.

Insider Transactions at Watts Water Technologies

In related news, insider Elie Melhem sold 2,257 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the transaction, the insider directly owned 8,963 shares of the company’s stock, valued at approximately $2,697,863. The trade was a 20.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were 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 in the company, valued at $561,668.82. The trade was a 17.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Watts Water Technologies

Several hedge funds and other institutional investors have recently modified their holdings of WTS. Norges Bank purchased a new position in Watts Water Technologies in the 4th quarter worth about $100,627,000. AQR Capital Management LLC boosted its position in Watts Water Technologies by 148.3% in the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after buying an additional 165,837 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Watts Water Technologies by 20,071.4% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock worth $40,989,000 after acquiring an additional 140,500 shares in the last quarter. UBS Group AG grew its stake in Watts Water Technologies by 223.0% in the 3rd quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock worth $56,484,000 after acquiring an additional 139,637 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Watts Water Technologies by 79.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company’s stock worth $78,067,000 after acquiring an additional 125,218 shares during the period. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $341.57 on Thursday. Watts Water Technologies has a 52 week low of $246.55 and a 52 week high of $394.54. The stock has a market capitalization of $11.40 billion, a P/E ratio of 31.25, a PEG ratio of 3.04 and a beta of 1.14. The firm has a fifty day simple moving average of $332.43 and a two-hundred day simple moving average of $312.98. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.32. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The firm had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $638.13 million. During the same period in the prior year, the company earned $2.37 EPS. The business’s revenue was up 21.4% compared to the same quarter last year. On average, analysts expect that Watts Water Technologies will post 12.03 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.63 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio is currently 23.06%.

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.