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

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have been assigned an average rating of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $288.5714.

Several brokerages recently issued reports on WTS. Wall Street Zen raised shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Weiss Ratings restated a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th. Wells Fargo & Company set a $275.00 price target on Watts Water Technologies in a research note on Thursday, January 8th. Finally, KeyCorp upgraded Watts Water Technologies from a “sector weight” rating to an “overweight” rating and set a $340.00 price objective on the stock in a research report on Wednesday.

Watts Water Technologies Trading Up 4.2%

Shares of WTS stock opened at $301.53 on Thursday. Watts Water Technologies has a fifty-two week low of $177.59 and a fifty-two week high of $304.42. The stock’s fifty day moving average price is $279.52 and its two-hundred day moving average price is $274.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.84 and a current ratio of 2.83. The company has a market cap of $10.06 billion, a PE ratio of 31.12, a P/E/G ratio of 2.70 and a beta of 1.24.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, November 5th. The technology company reported $2.50 earnings per share 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 during the quarter, compared to the consensus estimate of $576.20 million. During the same period in the prior year, the company earned $2.03 EPS. Watts Water Technologies’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities analysts predict that Watts Water Technologies will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio is currently 21.47%.

Insider Buying and Selling

In related news, major shareholder Timothy P. Horne sold 6,994 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $278.65, for a total transaction of $1,948,878.10. Following the sale, the insider directly owned 23,006 shares in the company, valued at $6,410,621.90. This trade represents a 23.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $167,451.90. Following the sale, 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. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 15,605 shares of company stock valued at $4,296,387. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. World Investment Advisors boosted its stake in shares of Watts Water Technologies by 1.4% during the third quarter. World Investment Advisors now owns 2,648 shares of the technology company’s stock valued at $740,000 after purchasing an additional 37 shares during the period. Centennial Wealth Advisory LLC raised its holdings in Watts Water Technologies by 3.8% during the 4th quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock valued at $279,000 after buying an additional 37 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Watts Water Technologies by 0.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 6,457 shares of the technology company’s stock valued at $1,588,000 after buying an additional 40 shares during the period. Texas Yale Capital Corp. grew its holdings in Watts Water Technologies by 4.4% in the 3rd quarter. Texas Yale Capital Corp. now owns 940 shares of the technology company’s stock worth $263,000 after acquiring an additional 40 shares during the last quarter. Finally, Journey Strategic Wealth LLC grew its holdings in Watts Water Technologies by 4.3% in the 3rd quarter. Journey Strategic Wealth LLC now owns 1,001 shares of the technology company’s stock worth $280,000 after acquiring an additional 41 shares during the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

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.