Watts Water Technologies Inc. (WTS) Hits New 52-Week High at $65.97
Watts Water Technologies Inc. (NYSE:WTS) hit a new 52-week high on Friday . The stock 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.
WTS has been the topic of several recent research reports. BB&T Corp. raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and upped their target price for the stock from $54.58 to $64.00 in a research note on Friday, May 6th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, May 5th. Northcoast Research assumed coverage on shares of Watts Water Technologies in a research report on Friday, July 8th. They issued a “neutral” rating on the stock. TheStreet raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, June 16th. Finally, Zacks Investment Research downgraded shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Monday, May 23rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $61.00.
The company’s market capitalization is $2.23 billion. The stock’s 50-day moving average price is $62.86 and its 200 day moving average price is $57.26.
Watts Water Technologies (NYSE:WTS) last released its earnings results on Thursday, August 4th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. The business had revenue of $371.10 million for the quarter, compared to the consensus estimate of $367.14 million. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 EPS. Analysts forecast that Watts Water Technologies Inc. will post $2.64 earnings per share for the current fiscal year.
The company 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 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Wednesday, August 31st.
In related news, insider Elie Melhem sold 5,192 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $62.44, for a total value of $324,188.48. Following the completion of the sale, the insider now owns 32,656 shares of the company’s stock, valued at $2,039,040.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph T. Noonan sold 3,922 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $57.45, for a total transaction of $225,318.90. Following the completion of the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $287,250. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Watts Water Technologies stock. KBC Group NV increased its stake in Watts Water Technologies Inc. (NYSE:WTS) by 41.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,297 shares of the company’s stock after buying an additional 14,453 shares during the period. KBC Group NV owned approximately 0.14% of Watts Water Technologies worth $2,449,000 at the end of the most recent reporting period.
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.