Watts Water Technologies, Inc. (NYSE:WTS) Stock Has Average Target Price of $371.90 According to Analysts

Watts Water Technologies, Inc. (NYSE:WTS) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $371.90.

A number of analysts recently issued reports on the company. KeyCorp lifted 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. Wall Street Zen cut Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 17th. Stifel Nicolaus set a $445.00 price target on Watts Water Technologies in a research note on Monday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $374.00 price target on shares of Watts Water Technologies in a research report on Friday, August 7th. Finally, Weiss Ratings raised shares of Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th.

Watts Water Technologies Stock Up 0.5%

Shares of WTS stock opened at $358.86 on Friday. The firm’s fifty day moving average price is $359.54 and its two-hundred day moving average price is $340.11. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. Watts Water Technologies has a 1 year low of $260.00 and a 1 year high of $394.54. The firm has a market capitalization of $11.98 billion, a P/E ratio of 31.34, a PEG ratio of 3.47 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.32. The company had revenue of $763.20 million during the quarter, compared to the consensus estimate of $725.99 million. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.09 EPS. On average, equities analysts predict that Watts Water Technologies will post 12.87 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 1st. Watts Water Technologies’s payout ratio is 22.01%.

Insider Buying and Selling

In related news, insider Elie Melhem sold 1,096 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the sale, the insider owned 7,867 shares in the company, valued at approximately $2,828,579.85. This represents a 12.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Noonan sold 3,650 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Watts Water Technologies

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in Watts Water Technologies by 769.2% during the 2nd quarter. NewEdge Advisors LLC now owns 113 shares of the technology company’s stock worth $44,000 after buying an additional 100 shares during the period. Root Financial Partners LLC bought a new stake in shares of Watts Water Technologies in the third quarter valued at about $54,000. Assetmark Inc. grew its stake in shares of Watts Water Technologies by 211.3% in the first quarter. Assetmark Inc. now owns 165 shares of the technology company’s stock valued at $48,000 after acquiring an additional 112 shares in the last quarter. Costello Asset Management INC grew its stake in shares of Watts Water Technologies by 900.0% in the first quarter. Costello Asset Management INC now owns 300 shares of the technology company’s stock valued at $87,000 after acquiring an additional 270 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Watts Water Technologies by 352.9% during the first quarter. Blue Trust Inc. now owns 317 shares of the technology company’s stock worth $92,000 after acquiring an additional 247 shares during the period. 95.02% of the stock is currently owned by 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.