Analysts Set Watts Water Technologies, Inc. (NYSE:WTS) Price Target at $64.50
Watts Water Technologies, Inc. (NYSE:WTS) has been given an average recommendation of “Hold” by the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $64.50.
Several equities research analysts have recently issued reports on the company. BidaskClub raised Watts Water Technologies from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, May 4th. Finally, Zacks Investment Research raised Watts Water Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th.
In related news, insider Elie Melhem sold 1,281 shares of Watts Water Technologies stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $64.42, for a total transaction of $82,522.02. Following the sale, the insider now directly owns 29,493 shares of the company’s stock, valued at $1,899,939.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in WTS. AQR Capital Management LLC increased its stake in Watts Water Technologies by 0.3% in the fourth quarter. AQR Capital Management LLC now owns 7,500 shares of the technology company’s stock worth $489,000 after buying an additional 19 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Watts Water Technologies by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 3,070 shares of the technology company’s stock worth $191,000 after buying an additional 50 shares during the last quarter. Eqis Capital Management Inc. increased its stake in Watts Water Technologies by 1.1% in the second quarter. Eqis Capital Management Inc. now owns 5,932 shares of the technology company’s stock worth $375,000 after buying an additional 64 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Watts Water Technologies by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the technology company’s stock worth $705,000 after buying an additional 100 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Watts Water Technologies by 0.7% in the first quarter. Arizona State Retirement System now owns 14,446 shares of the technology company’s stock worth $901,000 after buying an additional 100 shares during the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Watts Water Technologies (NYSE WTS) traded down 0.68% on Tuesday, reaching $66.20. The company had a trading volume of 77,209 shares. The company has a 50-day moving average price of $63.18 and a 200-day moving average price of $62.97. The firm has a market capitalization of $2.28 billion, a PE ratio of 25.86 and a beta of 1.07. Watts Water Technologies has a 52-week low of $58.35 and a 52-week high of $71.05.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.04. The company had revenue of $378.50 million for the quarter, compared to the consensus estimate of $379.51 million. Watts Water Technologies had a return on equity of 12.75% and a net margin of 6.40%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. Equities research analysts forecast that Watts Water Technologies will post $2.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 29.23%.
About Watts Water Technologies
Watts Water Technologies, Inc 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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