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

Watts Water Technologies, Inc. (NYSE:WTS) has earned an average recommendation of “Hold” from the five analysts that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating. The average 1 year price target among analysts that have covered the stock in the last year is $178.20.

A number of equities research analysts have weighed in on the company. StockNews.com lowered Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 18th. TD Cowen lifted their target price on Watts Water Technologies from $160.00 to $165.00 and gave the stock a “market perform” rating in a research report on Monday, September 11th. The Goldman Sachs Group lifted their target price on Watts Water Technologies from $171.00 to $189.00 and gave the stock a “neutral” rating in a research report on Friday, August 4th. Finally, Stifel Nicolaus boosted their price objective on Watts Water Technologies from $177.00 to $182.00 and gave the company a “hold” rating in a research report on Wednesday, July 19th.

Insider Buying and Selling

In related news, General Counsel Kenneth Robert Lepage sold 9,403 shares of Watts Water Technologies stock in a transaction on Friday, September 1st. The stock was sold at an average price of $188.36, for a total value of $1,771,149.08. Following the transaction, the general counsel now directly owns 17,404 shares in the company, valued at approximately $3,278,217.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Shashank Patel sold 2,336 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $190.14, for a total transaction of $444,167.04. Following the transaction, the chief financial officer now directly owns 18,846 shares of the company’s stock, valued at $3,583,378.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Kenneth Robert Lepage sold 9,403 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $188.36, for a total value of $1,771,149.08. Following the transaction, the general counsel now directly owns 17,404 shares in the company, valued at $3,278,217.44. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Covestor Ltd increased its position in Watts Water Technologies by 80.4% in the 1st quarter. Covestor Ltd now owns 184 shares of the technology company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Watts Water Technologies by 93.5% in the 2nd quarter. Spire Wealth Management now owns 149 shares of the technology company’s stock worth $27,000 after buying an additional 72 shares in the last quarter. Fifth Third Bancorp increased its holdings in Watts Water Technologies by 141.1% during the 1st quarter. Fifth Third Bancorp now owns 176 shares of the technology company’s stock valued at $30,000 after purchasing an additional 103 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Watts Water Technologies during the 2nd quarter valued at $32,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Watts Water Technologies during the 2nd quarter valued at $36,000. 75.06% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Stock Performance

Shares of NYSE:WTS opened at $173.59 on Thursday. The company has a market cap of $5.79 billion, a P/E ratio of 21.73, a PEG ratio of 2.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.49 and a current ratio of 2.53. Watts Water Technologies has a one year low of $138.56 and a one year high of $192.93. The business’s 50-day simple moving average is $177.26 and its 200 day simple moving average is $176.02.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.29. Watts Water Technologies had a return on equity of 19.48% and a net margin of 13.43%. The firm had revenue of $532.80 million during the quarter, compared to analyst estimates of $529.93 million. On average, sell-side analysts forecast that Watts Water Technologies will post 7.78 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 30th. Watts Water Technologies’s payout ratio is 18.02%.

About Watts Water Technologies

Watts Water Technologies, Inc 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. The company offers residential and commercial flow control and protection products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, thermostatic mixing valves, and leak detection and protection products for plumbing and hot water applications.