Analysts Set Watts Water Technologies, Inc. (NYSE:WTS) Price Target at $222.00

Watts Water Technologies, Inc. (NYSE:WTS) has been given an average rating of “Hold” by the five research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $222.00.

Several brokerages have recently issued reports on WTS. The Goldman Sachs Group boosted their price target on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Stifel Nicolaus raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and boosted their target price for the company from $219.00 to $229.00 in a research note on Wednesday, April 16th.

Watts Water Technologies Price Performance

Shares of NYSE:WTS opened at $207.67 on Monday. The company has a market cap of $6.92 billion, a PE ratio of 23.90, a P/E/G ratio of 3.42 and a beta of 0.95. Watts Water Technologies has a fifty-two week low of $175.37 and a fifty-two week high of $232.60. The firm has a 50-day simple moving average of $204.41 and a 200 day simple moving average of $207.01. The company has a quick ratio of 1.65, a current ratio of 2.59 and a debt-to-equity ratio of 0.12.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. On average, sell-side analysts anticipate that Watts Water Technologies will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, February 28th. Watts Water Technologies’s dividend payout ratio is currently 19.79%.

Insider Buying and Selling

In related news, insider Elie Melhem sold 4,397 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total transaction of $925,700.41. Following the sale, the insider now owns 10,469 shares of the company’s stock, valued at $2,204,038.57. The trade was a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Several hedge funds have recently modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of Watts Water Technologies by 0.7% in the fourth quarter. Arizona State Retirement System now owns 7,950 shares of the technology company’s stock valued at $1,616,000 after buying an additional 56 shares during the period. UMB Bank n.a. lifted its holdings in Watts Water Technologies by 59.8% in the 4th quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock valued at $32,000 after acquiring an additional 58 shares during the last quarter. Andina Capital Management LLC boosted its position in shares of Watts Water Technologies by 3.5% during the 4th quarter. Andina Capital Management LLC now owns 1,708 shares of the technology company’s stock valued at $347,000 after purchasing an additional 58 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Watts Water Technologies by 0.5% in the 4th quarter. Cerity Partners LLC now owns 12,410 shares of the technology company’s stock worth $2,541,000 after purchasing an additional 58 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Watts Water Technologies by 3.8% during the fourth quarter. Empowered Funds LLC now owns 1,652 shares of the technology company’s stock worth $336,000 after buying an additional 60 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Company Profile

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.