Watts Water Technologies Inc (NYSE:WTS) has earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $80.40.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Watts Water Technologies from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research note on Monday, January 22nd. Northcoast Research set a $90.00 price target on Watts Water Technologies and gave the company a “buy” rating in a research report on Friday, January 19th. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price target (up from $85.00) on shares of Watts Water Technologies in a research report on Tuesday, January 16th. Robert W. Baird reissued a “hold” rating and set a $80.00 price target on shares of Watts Water Technologies in a research report on Wednesday, February 14th. Finally, Janney Montgomery Scott raised Watts Water Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 14th.
In related news, CFO Todd A. Trapp sold 8,975 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $75.88, for a total transaction of $681,023.00. Following the sale, the chief financial officer now directly owns 26,129 shares of the company’s stock, valued at approximately $1,982,668.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Munish Nanda sold 6,953 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $75.66, for a total value of $526,063.98. Following the completion of the sale, the insider now directly owns 31,560 shares in the company, valued at $2,387,829.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,344 shares of company stock worth $3,239,332. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Watts Water Technologies by 12.7% during the 4th quarter. BlackRock Inc. now owns 3,978,819 shares of the technology company’s stock worth $302,190,000 after acquiring an additional 448,313 shares during the period. Impax Asset Management LTD raised its stake in shares of Watts Water Technologies by 7.8% in the 3rd quarter. Impax Asset Management LTD now owns 2,730,009 shares of the technology company’s stock valued at $188,917,000 after acquiring an additional 196,626 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Watts Water Technologies by 17.6% in the 4th quarter. Victory Capital Management Inc. now owns 906,662 shares of the technology company’s stock valued at $68,860,000 after acquiring an additional 135,454 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Watts Water Technologies by 32.1% in the 4th quarter. Deutsche Bank AG now owns 336,741 shares of the technology company’s stock valued at $25,572,000 after acquiring an additional 81,845 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Watts Water Technologies by 52.9% in the 4th quarter. TIAA CREF Investment Management LLC now owns 184,397 shares of the technology company’s stock valued at $14,005,000 after acquiring an additional 63,766 shares in the last quarter. 77.19% of the stock is currently owned by hedge funds and other institutional investors.
Watts Water Technologies (WTS) traded up $1.15 during midday trading on Wednesday, reaching $81.55. The company’s stock had a trading volume of 275,591 shares, compared to its average volume of 99,363. The stock has a market cap of $2,739.15, a PE ratio of 38.47, a PEG ratio of 1.85 and a beta of 1.14. Watts Water Technologies has a 52-week low of $59.15 and a 52-week high of $84.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 2.39.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Monday, February 12th. The technology company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. The firm had revenue of $366.30 million during the quarter, compared to analysts’ expectations of $365.35 million. Watts Water Technologies had a return on equity of 12.93% and a net margin of 5.02%. Watts Water Technologies’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. equities analysts anticipate that Watts Water Technologies will post 3.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Friday, March 2nd were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, March 1st. Watts Water Technologies’s dividend payout ratio is currently 35.85%.
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About Watts Water Technologies
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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