Watts Water Technologies (NYSE:WTS) Upgraded at Zacks Research

Watts Water Technologies (NYSE:WTS) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Marketbeat Ratings reports.

Several other brokerages have also commented on WTS. Barclays raised their price objective on Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday. Wall Street Zen cut shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Jefferies Financial Group began coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They set a “hold” rating and a $300.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $279.25.

Watts Water Technologies Trading Down 1.0%

NYSE:WTS opened at $279.80 on Monday. The company has a 50-day moving average price of $275.52 and a 200-day moving average price of $269.78. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 3.00 and a beta of 1.23. The company has a current ratio of 2.83, a quick ratio of 1.84 and a debt-to-equity ratio of 0.10. Watts Water Technologies has a 12 month low of $177.59 and a 12 month high of $287.89.

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

Insider Buying and Selling

In related news, CAO Virginia A. Halloran sold 605 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total transaction of $167,451.90. Following the completion of the sale, the chief accounting officer owned 13,412 shares of the company’s stock, valued at $3,712,173.36. This trade represents a 4.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Timothy P. Horne sold 6,814 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $272.32, for a total transaction of $1,855,588.48. Following the completion of the transaction, the insider owned 15,000 shares of the company’s stock, valued at approximately $4,084,800. The trade was a 31.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 15,605 shares of company stock worth $4,296,387. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

Several institutional investors have recently modified their holdings of the business. MTM Investment Management LLC bought a new stake in Watts Water Technologies in the 2nd quarter worth about $25,000. Wexford Capital LP bought a new stake in shares of Watts Water Technologies in the third quarter worth approximately $26,000. Advisory Services Network LLC purchased a new position in shares of Watts Water Technologies during the third quarter valued at approximately $29,000. Cullen Frost Bankers Inc. lifted its position in Watts Water Technologies by 156.9% during the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock valued at $32,000 after purchasing an additional 80 shares during the period. Finally, Stance Capital LLC bought a new stake in Watts Water Technologies in the 3rd quarter worth approximately $62,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

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.