Watts Water Technologies (NYSE:WTS) was upgraded by stock analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report issued on Wednesday.
Other analysts have also recently issued research reports about the stock. Boenning Scattergood reaffirmed a “buy” rating on shares of Watts Water Technologies in a report on Monday, November 20th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 target price on shares of Watts Water Technologies in a report on Thursday, December 14th. Northcoast Research set a $90.00 target price on shares of Watts Water Technologies and gave the company a “buy” rating in a report on Friday, January 19th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Watts Water Technologies in a report on Friday, November 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Watts Water Technologies currently has a consensus rating of “Hold” and an average price target of $78.17.
Shares of Watts Water Technologies (WTS) opened at $75.60 on Wednesday. The stock has a market cap of $2,526.95, a PE ratio of 24.50, a PEG ratio of 1.79 and a beta of 1.13. Watts Water Technologies has a 1 year low of $59.15 and a 1 year high of $82.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 2.57.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $366.30 million for the quarter, compared to analysts’ expectations of $365.35 million. Watts Water Technologies had a net margin of 5.02% and a return on equity of 13.07%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. research analysts expect that Watts Water Technologies will post 3.44 EPS for the current fiscal year.
In other Watts Water Technologies news, CEO Robert J. Pagano, Jr. sold 3,951 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $73.09, for a total value of $288,778.59. Following the transaction, the chief executive officer now directly owns 137,474 shares in the company, valued at $10,047,974.66. 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 2,545 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $70.48, for a total transaction of $179,371.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,348 shares of company stock worth $1,339,628. 1.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in WTS. Teachers Advisors LLC increased its stake in Watts Water Technologies by 5.2% in the second quarter. Teachers Advisors LLC now owns 49,559 shares of the technology company’s stock valued at $3,132,000 after purchasing an additional 2,463 shares during the last quarter. Nationwide Fund Advisors increased its stake in Watts Water Technologies by 0.8% in the second quarter. Nationwide Fund Advisors now owns 17,452 shares of the technology company’s stock valued at $1,103,000 after purchasing an additional 131 shares during the last quarter. New York State Common Retirement Fund increased its stake in Watts Water Technologies by 4.9% in the second quarter. New York State Common Retirement Fund now owns 29,700 shares of the technology company’s stock valued at $1,877,000 after purchasing an additional 1,399 shares during the last quarter. California Public Employees Retirement System increased its stake in Watts Water Technologies by 4.7% in the second quarter. California Public Employees Retirement System now owns 73,000 shares of the technology company’s stock valued at $4,614,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in Watts Water Technologies by 1.0% in the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock valued at $207,000 after purchasing an additional 31 shares during the last quarter. Institutional investors own 78.21% of the company’s stock.
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Watts Water Technologies Company Profile
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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