Watts Water Technologies Inc. (WTS) Shares Gap Up to $65.07
Watts Water Technologies Inc. (NYSE:WTS)’s share price 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 traded.
A number of brokerages recently issued reports on WTS. TheStreet upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, June 16th. Seaport Global Securities cut shares of Watts Water Technologies from an “accumulate” rating to a “neutral” rating and set a $58.00 price target on the stock. in a research note on Friday, June 10th. Northcoast Research began coverage on shares of Watts Water Technologies in a research note on Friday, July 8th. They issued a “neutral” rating on the stock. Wedbush upped their price target on shares of Watts Water Technologies from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, May 9th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Sunday, May 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $61.00.
The stock’s 50-day moving average is $63.34 and its 200-day moving average is $57.77. The company’s market cap is $2.25 billion.
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, topping 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. On average, equities 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 paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.09%.
In other news, General Counsel Kenneth Robert Lepage sold 10,000 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $58.00, for a total transaction of $580,000.00. Following the transaction, the general counsel now owns 61,570 shares in the company, valued at $3,571,060. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Timothy P. Horne sold 25,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $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 stake in shares of Watts Water Technologies Inc. (NYSE:WTS) by 41.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 0.14% of Watts Water Technologies worth $2,449,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.