Watts Water Technologies (NYSE:WTS) Stock Price Target Lowered at Barclays

Watts Water Technologies (NYSE:WTS) had its price target dropped by stock analysts at Barclays from $425.00 to $424.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 21.47% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $417.00 price objective on shares of Watts Water Technologies in a research report on Wednesday, October 14th. Robert W. Baird set a $405.00 target price on shares of Watts Water Technologies in a report on Friday, August 7th. KeyCorp boosted their target price on Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. The Goldman Sachs Group restated a “neutral” rating and set a $374.00 price target on shares of Watts Water Technologies in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $371.80.

Watts Water Technologies Trading Up 0.5%

WTS stock traded up $1.60 during mid-day trading on Friday, hitting $349.06. 68,142 shares of the company were exchanged, compared to its average volume of 263,695. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $11.65 billion, a P/E ratio of 26.06, a PEG ratio of 3.43 and a beta of 1.13. The business has a fifty day simple moving average of $355.93 and a 200-day simple moving average of $332.27. Watts Water Technologies has a 12-month low of $262.64 and a 12-month high of $394.54.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, November 4th. The technology company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.26. The business had revenue of $728.00 million during the quarter, compared to analysts’ expectations of $692.57 million. Watts Water Technologies had a net margin of 16.00% and a return on equity of 20.26%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period last year, the business earned $2.50 earnings per share. On average, equities research analysts predict that Watts Water Technologies will post 12.87 earnings per share for the current fiscal year.

Insider Transactions at Watts Water Technologies

In other news, Director Joseph Noonan sold 3,650 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total transaction of $1,291,078.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Elie Melhem sold 1,096 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $359.55, for a total transaction of $394,066.80. Following the sale, the insider directly owned 7,867 shares in the company, valued at $2,828,579.85. This represents a 12.23% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Watts Water Technologies

Large investors have recently added to or reduced their stakes in the business. North Dakota State Investment Board boosted its holdings in Watts Water Technologies by 3.9% in the third quarter. North Dakota State Investment Board now owns 834 shares of the technology company’s stock valued at $295,000 after purchasing an additional 31 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its stake in Watts Water Technologies by 6.6% in the third quarter. Robertson Stephens Wealth Management LLC now owns 729 shares of the technology company’s stock valued at $258,000 after purchasing an additional 45 shares during the last quarter. GAMMA Investing LLC increased its stake in Watts Water Technologies by 11.4% in the second quarter. GAMMA Investing LLC now owns 478 shares of the technology company’s stock valued at $187,000 after purchasing an additional 49 shares during the last quarter. Cetera Investment Advisers raised its holdings in Watts Water Technologies by 2.9% during the first quarter. Cetera Investment Advisers now owns 1,818 shares of the technology company’s stock worth $528,000 after purchasing an additional 52 shares in the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in Watts Water Technologies by 8.6% during the first quarter. Kestra Advisory Services LLC now owns 706 shares of the technology company’s stock worth $205,000 after purchasing an additional 56 shares in the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.