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

Watts Water Technologies (NYSE:WTS) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

WTS has been the topic of a number of other research reports. KeyCorp increased their price objective on Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Robert W. Baird set a $361.00 price objective on shares of Watts Water Technologies in a research report on Friday, February 13th. TD Cowen restated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th. Zacks Research upgraded shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating 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 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $334.11.

Watts Water Technologies Stock Down 0.3%

WTS stock opened at $329.04 on Friday. The company’s 50 day moving average price is $302.31 and its 200 day moving average price is $285.44. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 3.00 and a beta of 1.24. Watts Water Technologies has a fifty-two week low of $177.59 and a fifty-two week high of $345.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51.

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

Insider Buying and Selling

In other Watts Water Technologies news, CEO Robert J. Pagano, Jr. sold 16,066 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the completion of the transaction, the chief executive officer owned 191,202 shares in the company, valued at approximately $62,582,326.62. This represents a 7.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of Watts Water Technologies stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total transaction of $1,613,427.00. Following the completion of the sale, the general counsel directly owned 12,284 shares in the company, valued at approximately $3,944,146.72. The trade was a 29.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 29,196 shares of company stock valued at $9,514,741. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Watts Water Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MTM Investment Management LLC acquired a new position in Watts Water Technologies during the second quarter worth about $25,000. Wexford Capital LP purchased a new stake in Watts Water Technologies during the third quarter worth $26,000. Acumen Wealth Advisors LLC acquired a new stake in Watts Water Technologies in the fourth quarter valued at $28,000. Clearstead Advisors LLC increased its position in shares of Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after buying an additional 43 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Watts Water Technologies in the third quarter valued at $29,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

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.