Watts Water Technologies, Inc. (NYSE:WTS) Given Average Recommendation of “Hold” by Analysts

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have earned a consensus rating of “Hold” from the twelve brokerages that are covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $334.1111.

A number of research firms recently weighed in on WTS. Zacks Research cut Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. TD Cowen restated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. HSBC started coverage on Watts Water Technologies in a research note on Tuesday, January 27th. They set a “buy” rating for the company. KeyCorp raised their target price on Watts Water Technologies from $340.00 to $360.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Finally, Robert W. Baird set a $361.00 price target on Watts Water Technologies in a research report on Friday, February 13th.

Insiders Place Their Bets

In other news, Director Michael J. Dubose sold 332 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $301.70, for a total value of $100,164.40. Following the sale, the director directly owned 2,212 shares in the company, valued at approximately $667,360.40. This trade represents a 13.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elie Melhem sold 372 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $292.13, for a total value of $108,672.36. Following the completion of the sale, the insider owned 11,220 shares in the company, valued at approximately $3,277,698.60. The trade was a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 29,674 shares of company stock valued at $9,669,838. 1.00% of the stock is owned by company insiders.

Institutional Trading of Watts Water Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of WTS. Integrated Wealth Concepts LLC raised its stake in Watts Water Technologies by 10.2% in the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock valued at $385,000 after buying an additional 174 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Watts Water Technologies by 80.2% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after buying an additional 445 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Watts Water Technologies by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock valued at $20,163,000 after purchasing an additional 7,537 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Watts Water Technologies in the 2nd quarter valued at approximately $219,000. Finally, Cetera Investment Advisers boosted its holdings in Watts Water Technologies by 43.2% in the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock valued at $426,000 after purchasing an additional 523 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Down 0.4%

Watts Water Technologies stock opened at $287.86 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51. The business’s 50-day simple moving average is $308.49 and its two-hundred day simple moving average is $289.37. The company has a market cap of $9.60 billion, a PE ratio of 28.30, a PEG ratio of 2.62 and a beta of 1.27. Watts Water Technologies has a fifty-two week low of $177.59 and a fifty-two week high of $345.17.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The firm had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. During the same quarter in the prior year, the business earned $2.05 earnings per share. The company’s revenue was up 15.7% compared to the same quarter last year. Equities analysts anticipate that Watts Water Technologies will post 9.08 EPS for the current year.

Watts Water Technologies Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.52 per share. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, February 27th. Watts Water Technologies’s dividend payout ratio (DPR) is currently 20.45%.

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.