Watts Water Technologies, Inc. (WTS) Earns “Buy” Rating from Boenning Scattergood
Boenning Scattergood reissued their buy rating on shares of Watts Water Technologies, Inc. (NYSE:WTS) in a report issued on Monday morning. Boenning Scattergood also issued estimates for Watts Water Technologies’ Q4 2017 earnings at $0.71 EPS, Q1 2018 earnings at $0.66 EPS, Q2 2018 earnings at $0.88 EPS, Q3 2018 earnings at $0.86 EPS and FY2018 earnings at $3.25 EPS.
Several other brokerages have also weighed in on WTS. Cowen and Company reiterated a hold rating and issued a $58.00 price objective on shares of Watts Water Technologies in a research report on Thursday, September 28th. Zacks Investment Research upgraded Watts Water Technologies from a hold rating to a buy rating and set a $79.00 price objective for the company in a research report on Tuesday, October 3rd. Robert W. Baird raised their price target on Watts Water Technologies from $71.00 to $76.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. KeyCorp restated a hold rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. Finally, Stifel Nicolaus restated a buy rating and set a $79.00 price target on shares of Watts Water Technologies in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Watts Water Technologies presently has a consensus rating of Hold and a consensus target price of $72.83.
Watts Water Technologies (NYSE:WTS) opened at $72.50 on Monday. The firm has a market capitalization of $2,467.19, a P/E ratio of 24.74, a P/E/G ratio of 2.00 and a beta of 1.12. Watts Water Technologies has a 52-week low of $59.15 and a 52-week high of $73.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.70.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $347.70 million during the quarter, compared to analyst estimates of $361.22 million. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. analysts anticipate that Watts Water Technologies will post 3.01 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.05%. Watts Water Technologies’s dividend payout ratio is currently 28.15%.
In other news, insider Elie Melhem sold 2,545 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $70.48, for a total transaction of $179,371.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its holdings in Watts Water Technologies by 171.1% in the third quarter. GSA Capital Partners LLP now owns 13,404 shares of the technology company’s stock valued at $928,000 after purchasing an additional 8,459 shares during the period. California Public Employees Retirement System boosted its holdings in Watts Water Technologies by 5.7% in the third quarter. California Public Employees Retirement System now owns 77,160 shares of the technology company’s stock valued at $5,339,000 after purchasing an additional 4,160 shares during the period. OxFORD Asset Management LLP boosted its holdings in Watts Water Technologies by 18.5% in the third quarter. OxFORD Asset Management LLP now owns 41,871 shares of the technology company’s stock valued at $2,903,000 after purchasing an additional 6,526 shares during the period. KBC Group NV boosted its holdings in Watts Water Technologies by 5.8% in the third quarter. KBC Group NV now owns 65,525 shares of the technology company’s stock valued at $4,534,000 after purchasing an additional 3,605 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Watts Water Technologies by 4.0% in the third quarter. Dimensional Fund Advisors LP now owns 992,272 shares of the technology company’s stock valued at $68,667,000 after purchasing an additional 38,374 shares during the period. Hedge funds and other institutional investors own 79.00% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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