Watts Water Technologies (NYSE:WTS) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Watts Water Technologies (NYSE:WTS) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

A number of other equities analysts also recently commented on WTS. Barclays increased their price objective on shares of Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Zacks Research raised Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Royal Bank Of Canada assumed coverage on Watts Water Technologies in a research note on Monday. They issued a “sector perform” rating and a $288.00 price target for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday, December 29th. Finally, Jefferies Financial Group started coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $280.00.

Watts Water Technologies Stock Up 0.4%

Shares of NYSE:WTS opened at $287.51 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.83 and a quick ratio of 1.84. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 2.77 and a beta of 1.24. The company has a 50 day moving average of $276.35 and a 200-day moving average of $271.60. Watts Water Technologies has a one year low of $177.59 and a one year high of $290.80.

Watts Water Technologies (NYSE:WTS) last posted 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 company had revenue of $611.70 million during the quarter, compared to analyst estimates of $576.20 million. During the same period in the previous year, the company earned $2.03 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, sell-side analysts forecast that Watts Water Technologies will post 9.08 earnings per share for the current year.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, 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 of the company’s stock, valued at approximately $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Timothy P. Horne sold 6,814 shares of the company’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 transaction, the insider directly owned 15,000 shares in the company, valued at approximately $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 15,605 shares of company stock worth $4,296,387. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Watts Water Technologies by 151.2% during the fourth quarter. SG Americas Securities LLC now owns 10,579 shares of the technology company’s stock valued at $2,920,000 after purchasing an additional 6,368 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Watts Water Technologies by 122.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 54,381 shares of the technology company’s stock valued at $15,010,000 after buying an additional 29,942 shares in the last quarter. Diversified Trust Co. lifted its stake in shares of Watts Water Technologies by 6.8% during the 4th quarter. Diversified Trust Co. now owns 2,371 shares of the technology company’s stock valued at $654,000 after buying an additional 151 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Watts Water Technologies by 24.8% in the 4th quarter. GAMMA Investing LLC now owns 322 shares of the technology company’s stock worth $89,000 after buying an additional 64 shares during the period. Finally, Allworth Financial LP grew its stake in Watts Water Technologies by 29.7% in the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock valued at $71,000 after buying an additional 58 shares in the last quarter. 95.02% of the stock is currently owned by hedge funds and other 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.