Watts Water Technologies, Inc. (NYSE:WTS) Receives $288.57 Average PT from Brokerages

Watts Water Technologies, Inc. (NYSE:WTS) has been given a consensus rating of “Hold” by the eleven analysts that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $288.5714.

Several brokerages recently weighed in on WTS. Wells Fargo & Company set a $275.00 price target on shares of Watts Water Technologies in a research report on Thursday, January 8th. KeyCorp raised Watts Water Technologies from a “sector weight” rating to an “overweight” rating and set a $340.00 target price for the company in a report on Wednesday. Zacks Research raised Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Finally, Barclays boosted their target price on Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th.

Insider Buying and Selling at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 6,814 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total value of $1,855,588.48. Following the transaction, the insider owned 15,000 shares of the company’s stock, valued at approximately $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total transaction of $167,451.90. Following the transaction, the chief accounting officer owned 13,412 shares in the company, valued at $3,712,173.36. This represents a 4.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 15,605 shares of company stock valued at $4,296,387 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Watts Water Technologies

Several institutional investors and hedge funds have recently modified their holdings of WTS. MTM Investment Management LLC bought a new position in Watts Water Technologies in the 2nd quarter worth $25,000. Wexford Capital LP purchased a new position in shares of Watts Water Technologies in the third quarter valued at about $26,000. Advisory Services Network LLC bought a new position in shares of Watts Water Technologies in the third quarter worth about $29,000. Cullen Frost Bankers Inc. grew its position in shares of Watts Water Technologies by 156.9% during the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after purchasing an additional 80 shares in the last quarter. Finally, Stance Capital LLC purchased a new stake in shares of Watts Water Technologies during the third quarter worth about $62,000. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Price Performance

WTS opened at $299.31 on Thursday. The firm has a market cap of $9.98 billion, a PE ratio of 30.89, a P/E/G ratio of 2.79 and a beta of 1.24. The stock has a 50-day moving average price of $280.75 and a 200-day moving average price of $274.94. Watts Water Technologies has a 1 year low of $177.59 and a 1 year high of $306.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.83 and a quick ratio of 1.84.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.29 by $0.21. The company had revenue of $611.70 million for the quarter, compared to the consensus estimate of $576.20 million. Watts Water Technologies had a net margin of 13.79% and a return on equity of 18.31%. Watts Water Technologies’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.03 EPS. Sell-side analysts predict that Watts Water Technologies will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, December 1st. Watts Water Technologies’s dividend payout ratio is presently 21.47%.

Watts Water Technologies Company Profile

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.