Watts Water Technologies (WTS) Rating Reiterated by Boenning Scattergood

Watts Water Technologies (NYSE:WTS)‘s stock had its “hold” rating restated by analysts at Boenning Scattergood in a report issued on Monday.

WTS has been the topic of several other reports. Northcoast Research reissued a “buy” rating and issued a $105.00 price objective on shares of Watts Water Technologies in a research report on Friday, August 3rd. Stifel Nicolaus increased their price objective on shares of Watts Water Technologies from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Robert W. Baird reissued a “hold” rating and issued a $82.00 price objective on shares of Watts Water Technologies in a research report on Friday, July 20th. Oppenheimer reissued a “hold” rating on shares of Watts Water Technologies in a research report on Tuesday, October 2nd. Finally, Seaport Global Securities reissued a “hold” rating and issued a $83.00 price objective on shares of Watts Water Technologies in a research report on Thursday, August 2nd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $90.80.

Shares of WTS opened at $75.06 on Monday. The stock has a market capitalization of $2.43 billion, a PE ratio of 24.85, a P/E/G ratio of 1.75 and a beta of 1.16. Watts Water Technologies has a fifty-two week low of $67.29 and a fifty-two week high of $93.35. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 2.29.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Friday, November 2nd. The technology company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.04. The company had revenue of $390.90 million for the quarter, compared to analyst estimates of $380.00 million. Watts Water Technologies had a net margin of 6.05% and a return on equity of 14.58%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. Equities research analysts anticipate that Watts Water Technologies will post 3.7 EPS for the current fiscal year.

In related news, insider Elie Melhem sold 3,910 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $82.32, for a total value of $321,871.20. Following the transaction, the insider now directly owns 22,991 shares in the company, valued at $1,892,619.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. CAPROCK Group Inc. grew its stake in shares of Watts Water Technologies by 20.4% in the second quarter. CAPROCK Group Inc. now owns 4,556 shares of the technology company’s stock valued at $357,000 after acquiring an additional 773 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Watts Water Technologies by 27.2% in the first quarter. Xact Kapitalforvaltning AB now owns 3,744 shares of the technology company’s stock valued at $291,000 after acquiring an additional 800 shares in the last quarter. Welch & Forbes LLC grew its stake in shares of Watts Water Technologies by 5.3% in the third quarter. Welch & Forbes LLC now owns 15,886 shares of the technology company’s stock valued at $1,319,000 after acquiring an additional 805 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Watts Water Technologies by 1.5% in the second quarter. Legal & General Group Plc now owns 60,168 shares of the technology company’s stock valued at $4,711,000 after acquiring an additional 863 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in shares of Watts Water Technologies by 0.5% in the third quarter. Systematic Financial Management LP now owns 184,802 shares of the technology company’s stock valued at $15,339,000 after acquiring an additional 905 shares in the last quarter. Institutional investors and hedge funds own 77.03% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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