Watts Water Technologies Inc. (WTS) Shares Gap Down to $65.07
Watts Water Technologies Inc. (NYSE:WTS) gapped down before the market opened on Monday . The stock had previously closed at $64.86, but opened at $65.07. Watts Water Technologies shares last traded at $65.90, with a volume of 93,000 shares.
Several research firms have issued reports on WTS. Robert W. Baird reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Sunday, May 8th. Seaport Global Securities lowered shares of Watts Water Technologies from an “accumulate” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a report on Friday, June 10th. TheStreet upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Thursday, June 16th. Northcoast Research began coverage on shares of Watts Water Technologies in a report on Friday, July 8th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Tuesday, May 17th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.00.
The company’s 50-day moving average is $63.34 and its 200-day moving average is $57.77. The firm’s market cap is $2.25 billion.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. During the same quarter last year, the firm posted $0.69 earnings per share. The business earned $371.10 million during the quarter, compared to the consensus estimate of $367.14 million. Watts Water Technologies’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts expect that Watts Water Technologies Inc. will post $2.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be paid a $0.18 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.09%.
In related news, General Counsel Kenneth Robert Lepage sold 15,000 shares of Watts Water Technologies stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $59.00, for a total value of $885,000.00. Following the transaction, the general counsel now owns 66,570 shares of the company’s stock, valued at approximately $3,927,630. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elie Melhem sold 5,192 shares of Watts Water Technologies stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $62.44, for a total value of $324,188.48. Following the completion of the transaction, the insider now directly owns 32,656 shares in the company, valued at approximately $2,039,040.64. The disclosure for this sale can be found here.
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.