Watts Water Technologies, Inc. (NYSE:WTS) Receives $334.11 Average Price Target from Analysts

Watts Water Technologies, Inc. (NYSE:WTS) has earned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $334.1111.

A number of analysts have issued reports on WTS shares. Zacks Research raised shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 10th. HSBC started coverage on Watts Water Technologies in a research report on Tuesday, January 27th. They set a “buy” rating on the stock. The Goldman Sachs Group lifted their price objective on Watts Water Technologies from $267.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Finally, Jefferies Financial Group initiated coverage on Watts Water Technologies in a research report on Friday, December 12th. They set a “hold” rating and a $300.00 target price for the company.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $326.57 on Monday. The business’s 50 day moving average is $297.43 and its 200-day moving average is $283.19. The firm has a market cap of $10.89 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. Watts Water Technologies has a 1-year low of $177.59 and a 1-year high of $345.17. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.10.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.26. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The firm had revenue of $625.10 million for the quarter, compared to analysts’ expectations of $610.40 million. During the same quarter last year, the business earned $2.05 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities research analysts predict that Watts Water Technologies will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a c) annualized dividend and a yield of 1.9%. Watts Water Technologies’s dividend payout ratio is currently 20.45%.

Insider Activity

In other news, major shareholder Timothy P. Horne sold 6,814 shares of the business’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 completion of the transaction, the insider directly owned 15,000 shares in the company, valued at approximately $4,084,800. The trade was a 31.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 16,066 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $327.31, for a total transaction of $5,258,562.46. Following the sale, the chief executive officer directly owned 191,202 shares of the company’s stock, valued at approximately $62,582,326.62. This trade represents a 7.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 29,452 shares of company stock valued at $9,151,499 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Watts Water Technologies

Large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC raised its holdings in shares of Watts Water Technologies by 10.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after buying an additional 174 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Watts Water Technologies by 80.2% during the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after acquiring an additional 445 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Watts Water Technologies by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after acquiring an additional 7,537 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Watts Water Technologies in the second quarter worth about $219,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Watts Water Technologies by 13.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,895 shares of the technology company’s stock valued at $958,000 after purchasing an additional 464 shares in the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

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.