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

Watts Water Technologies, Inc. (NYSE:WTS) has been given an average rating of “Hold” by the eight research firms that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $279.25.

A number of equities research analysts have recently issued reports on WTS shares. Wall Street Zen cut Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. Jefferies Financial Group started coverage on shares of Watts Water Technologies in a report on Friday, December 12th. They set a “hold” rating and a $300.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Watts Water Technologies in a research report on Monday, December 15th. Barclays lifted their price objective on shares of Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Finally, Zacks Research lowered shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th.

Insider Activity at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 6,814 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $272.32, for a total value of $1,855,588.48. Following the completion of the sale, the insider directly owned 15,000 shares of the company’s stock, valued at $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Virginia A. Halloran sold 605 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total value of $167,451.90. Following the transaction, the chief accounting officer directly owned 13,412 shares in the company, valued at $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 15,605 shares of company stock worth $4,296,387 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Watts Water Technologies

Hedge funds have recently added to or reduced their stakes in the company. Wexford Capital LP acquired a new position in Watts Water Technologies in the 3rd quarter valued at $26,000. MTM Investment Management LLC bought a new stake in shares of Watts Water Technologies in the second quarter valued at about $25,000. Advisory Services Network LLC bought a new stake in shares of Watts Water Technologies in the third quarter valued at about $29,000. Cullen Frost Bankers Inc. grew its stake in shares of Watts Water Technologies by 156.9% in the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock valued at $32,000 after acquiring an additional 80 shares in the last quarter. Finally, Stance Capital LLC bought a new position in Watts Water Technologies during the third quarter worth about $62,000. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Trading Up 0.3%

Watts Water Technologies stock opened at $284.55 on Friday. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 3.02 and a beta of 1.23. The firm has a 50-day moving average of $275.54 and a 200-day moving average of $269.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.83 and a quick ratio of 1.84. Watts Water Technologies has a one year low of $177.59 and a one year high of $287.89.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.The business had revenue of $611.70 million for the quarter, compared to analyst estimates of $576.20 million. During the same quarter in the prior year, the company posted $2.03 earnings per share. Watts Water Technologies’s revenue was up 12.5% on a year-over-year basis. On average, equities analysts expect that Watts Water Technologies will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, December 1st. Watts Water Technologies’s payout ratio is 21.47%.

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.