Watts Water Technologies, Inc. (NYSE:WTS) Receives $329.44 Average PT from Analysts

Watts Water Technologies, Inc. (NYSE:WTS) has earned an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $329.4444.

Several research firms recently weighed in on WTS. Stifel Nicolaus set a $379.00 price target on Watts Water Technologies in a research note on Friday, May 8th. Barclays cut their price target on Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating on the stock in a research note on Monday, May 11th. Royal Bank Of Canada upped their price target on Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Weiss Ratings downgraded Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Robert W. Baird set a $330.00 price target on Watts Water Technologies in a research note on Friday, May 8th.

Watts Water Technologies Stock Down 4.3%

WTS stock opened at $358.99 on Friday. Watts Water Technologies has a fifty-two week low of $242.77 and a fifty-two week high of $375.89. The business’s 50 day moving average price is $313.19 and its two-hundred day moving average price is $303.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 32.84, a price-to-earnings-growth ratio of 3.19 and a beta of 1.19.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. The firm had revenue of $677.30 million for the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The business’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.37 EPS. As a group, analysts forecast that Watts Water Technologies will post 11.9 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.63 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio is presently 23.06%.

Insider Activity at Watts Water Technologies

In related news, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the sale, the insider owned 8,963 shares in the company, valued at $2,697,863. This represents a 20.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael J. Dubose sold 398 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total value of $123,232.74. Following the completion of the sale, the director owned 1,814 shares in the company, valued at $561,668.82. The trade was a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its position in Watts Water Technologies by 14.4% in the 1st quarter. Pacer Advisors Inc. now owns 9,355 shares of the technology company’s stock valued at $2,716,000 after acquiring an additional 1,181 shares in the last quarter. Empowered Funds LLC lifted its position in Watts Water Technologies by 1,808.0% in the 1st quarter. Empowered Funds LLC now owns 27,876 shares of the technology company’s stock valued at $8,092,000 after acquiring an additional 26,415 shares in the last quarter. Groupama Asset Managment lifted its position in Watts Water Technologies by 7.7% in the 1st quarter. Groupama Asset Managment now owns 82,602 shares of the technology company’s stock valued at $23,979,000 after acquiring an additional 5,928 shares in the last quarter. Bank of America Corp DE lifted its position in Watts Water Technologies by 21.1% in the 1st quarter. Bank of America Corp DE now owns 133,817 shares of the technology company’s stock valued at $38,846,000 after acquiring an additional 23,300 shares in the last quarter. Finally, Smith Group Asset Management LLC lifted its position in Watts Water Technologies by 2.0% in the 1st quarter. Smith Group Asset Management LLC now owns 6,688 shares of the technology company’s stock valued at $1,941,000 after acquiring an additional 130 shares in the last quarter. 95.02% of the stock is owned by institutional investors.

About Watts Water Technologies

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.