Watts Water Technologies Inc. (WTS) Shares Gap Up to $65.07
Shares of Watts Water Technologies Inc. (NYSE:WTS) gapped up prior to trading on Friday . The stock had previously closed at $64.86, but opened at $65.07. Watts Water Technologies shares last traded at $65.45, with a volume of 25,045 shares trading hands.
WTS has been the subject of several recent research reports. Wedbush lifted their price objective on Watts Water Technologies from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, May 9th. Zacks Investment Research downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Monday, May 23rd. Sterne Agee CRT reiterated a “buy” rating on shares of Watts Water Technologies in a report on Monday, May 16th. Northcoast Research started coverage on shares of Watts Water Technologies in a report on Friday, July 8th. They issued a “neutral” rating for the company. Finally, TheStreet upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $61.00.
The company’s market cap is $2.25 billion. The stock’s 50-day moving average is $63.34 and its 200-day moving average is $57.77.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business had revenue of $371.10 million for the quarter, compared to analysts’ expectations of $367.14 million. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Analysts forecast that Watts Water Technologies Inc. will post $2.64 EPS for the current year.
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Wednesday, August 31st.
In related news, General Counsel Kenneth Robert Lepage sold 31,362 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $64.53, for a total transaction of $2,023,789.86. Following the completion of the transaction, the general counsel now directly owns 75,727 shares in the company, valued at approximately $4,886,663.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Timothy P. Horne sold 25,000 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $57.50, for a total value of $1,437,500.00. Following the transaction, the insider now owns 6,781 shares of the company’s stock, valued at $389,907.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Watts Water Technologies stock. KBC Group NV boosted its position in shares of Watts Water Technologies Inc. (NYSE:WTS) by 41.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,297 shares of the company’s stock after buying an additional 14,453 shares during the period. KBC Group NV owned 0.14% of Watts Water Technologies worth $2,449,000 at the end of the most recent 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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