Watts Water Technologies Inc. (WTS) Shares Gap Up to $63.60
Watts Water Technologies Inc. (NYSE:WTS) gapped up before the market opened on Thursday . The stock had previously closed at $63.25, but opened at $63.60. Watts Water Technologies shares last traded at $65.18, with a volume of 50,003 shares trading hands.
A number of equities research analysts recently weighed in on the company. TheStreet raised Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, June 16th. Seaport Global Securities downgraded Watts Water Technologies from an “accumulate” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a research report on Friday, June 10th. Northcoast Research initiated coverage on Watts Water Technologies in a report on Friday, July 8th. They issued a “neutral” rating for the company. Wedbush raised their price target on Watts Water Technologies from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, May 9th. Finally, Robert W. Baird reissued a “hold” rating on shares of Watts Water Technologies in a report on Sunday, May 8th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $59.80.
The company has a 50 day moving average price of $60.56 and a 200-day moving average price of $55.92. The stock’s market capitalization is $2.24 billion.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.05. During the same period last year, the company earned $0.69 EPS. The business earned $371.10 million during the quarter, compared to analyst estimates of $367.14 million. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts expect that Watts Water Technologies Inc. will post $2.64 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Wednesday, August 31st.
In other news, major shareholder Timothy P. Horne sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $57.14, for a total transaction of $1,428,500.00. Following the completion of the sale, the insider now owns 25,000 shares of the company’s stock, valued at $1,428,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Kenneth Robert Lepage sold 594 shares of the firm’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $60.00, for a total transaction of $35,640.00. Following the sale, the general counsel now directly owns 52,164 shares of the company’s stock, valued at approximately $3,129,840. The disclosure for this sale can be found here.
Other hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors raised its stake in Watts Water Technologies by 0.9% in the fourth quarter. Nationwide Fund Advisors now owns 22,298 shares of the company’s stock valued at $1,108,000 after buying an additional 190 shares during the last quarter. Bank of Montreal Can raised its stake in Watts Water Technologies by 585.9% in the fourth quarter. Bank of Montreal Can now owns 35,250 shares of the company’s stock valued at $1,751,000 after buying an additional 30,111 shares during the last quarter. Rhumbline Advisers raised its stake in Watts Water Technologies by 4.1% in the fourth quarter. Rhumbline Advisers now owns 49,117 shares of the company’s stock valued at $2,440,000 after buying an additional 1,940 shares during the last quarter. KBC Group NV raised its stake in Watts Water Technologies by 41.5% in the fourth quarter. KBC Group NV now owns 49,297 shares of the company’s stock valued at $2,449,000 after buying an additional 14,453 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Watts Water Technologies by 2.0% in the fourth quarter. California Public Employees Retirement System now owns 91,200 shares of the company’s stock valued at $4,530,000 after buying an additional 1,800 shares during the last quarter.
Watts Water Technologies, Inc (Watts) 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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