Watts Water Technologies (NYSE:WTS) Reaches New 52-Week High – What’s Next?

Watts Water Technologies, Inc. (NYSE:WTS)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $351.57 and last traded at $349.9490, with a volume of 333139 shares changing hands. The stock had previously closed at $343.89.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WTS shares. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. Weiss Ratings cut shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Royal Bank Of Canada lifted their price target on shares of Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Robert W. Baird set a $330.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Finally, Barclays cut their price objective on shares of Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $329.44.

Watts Water Technologies Trading Up 1.8%

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 firm has a 50-day moving average of $309.11 and a 200-day moving average of $301.77. The firm has a market capitalization of $11.68 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 3.05 and a beta of 1.19.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data 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. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. During the same quarter in the previous year, the company posted $2.37 earnings per share. The business’s revenue was up 21.4% on a year-over-year basis. On average, equities research analysts anticipate that Watts Water Technologies, Inc. will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

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

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the sale, the insider owned 8,963 shares of the company’s stock, valued at $2,697,863. This trade represents a 20.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 directly owned 1,814 shares of the company’s stock, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

A number of large investors have recently made changes to their positions in the business. Boston Partners boosted its holdings in Watts Water Technologies by 2.2% in the third quarter. Boston Partners now owns 907,336 shares of the technology company’s stock valued at $253,211,000 after acquiring an additional 19,247 shares in the last quarter. Geode Capital Management LLC raised its holdings in Watts Water Technologies by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 832,148 shares of the technology company’s stock worth $229,721,000 after purchasing an additional 25,501 shares in the last quarter. First Trust Advisors LP raised its holdings in Watts Water Technologies by 6.7% in the 1st quarter. First Trust Advisors LP now owns 545,404 shares of the technology company’s stock worth $158,325,000 after purchasing an additional 34,381 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Watts Water Technologies by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 522,624 shares of the technology company’s stock worth $144,261,000 after purchasing an additional 1,418 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Watts Water Technologies by 34.4% in the 3rd quarter. Invesco Ltd. now owns 469,508 shares of the technology company’s stock worth $131,124,000 after purchasing an additional 120,090 shares during the period. 95.02% of the stock is currently owned by institutional investors.

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.