Watts Water Technologies Inc. (WTS) Sets New 1-Year High at $65.97
Watts Water Technologies Inc. (NYSE:WTS)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $65.97 and last traded at $65.30, with a volume of 89,560 shares. The stock had previously closed at $65.29.
A number of equities analysts have recently issued reports on WTS shares. Seaport Global Securities cut Watts Water Technologies from an “accumulate” rating to a “neutral” rating and set a $58.00 price objective for the company. in a report on Friday, June 10th. TheStreet raised Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, June 16th. Northcoast Research assumed coverage on Watts Water Technologies in a research note on Friday, July 8th. They issued a “neutral” rating for the company. Zacks Investment Research lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Monday, May 23rd. Finally, Sterne Agee CRT reissued a “buy” rating on shares of Watts Water Technologies in a research note on Monday, May 16th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $61.00.
The company’s 50-day moving average price is $62.86 and its 200-day moving average price is $57.26. The firm’s market capitalization is $2.23 billion.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.05. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business had revenue of $371.10 million for the quarter, compared to analysts’ expectations of $367.14 million. Watts Water Technologies’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Watts Water Technologies Inc. will post $2.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.10%.
In other news, General Counsel Kenneth Robert Lepage sold 31,362 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $64.53, for a total value 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 $4,886,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph T. Noonan sold 3,922 shares of the company’s stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $57.45, for a total transaction of $225,318.90. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $287,250. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of 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 period. KBC Group NV boosted 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Watts Water Technologies by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,203,781 shares of the company’s stock valued at $59,792,000 after buying an additional 10,159 shares in 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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