Watts Water Technologies, Inc. (WTS) Now Covered by Analysts at Stifel Nicolaus
Investment analysts at Stifel Nicolaus assumed coverage on shares of Watts Water Technologies, Inc. (NYSE:WTS) in a report released on Monday. The firm set a “buy” rating on the technology company’s stock.
A number of other equities research analysts have also recently commented on WTS. BidaskClub upgraded Watts Water Technologies from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Wednesday, June 14th. Boenning Scattergood reiterated an “outperform” rating on shares of Watts Water Technologies in a research note on Tuesday, September 5th. Finally, Northcoast Research upgraded Watts Water Technologies from a “neutral” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $66.00.
Watts Water Technologies (WTS) traded up 4.53% during midday trading on Monday, reaching $66.90. The company had a trading volume of 164,415 shares. The firm has a 50-day moving average of $63.35 and a 200 day moving average of $62.74. Watts Water Technologies has a 1-year low of $58.35 and a 1-year high of $71.05. The company has a market capitalization of $2.29 billion, a P/E ratio of 26.13 and a beta of 1.06.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The company had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $379.51 million. During the same period last year, the business posted $0.75 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Watts Water Technologies will post $2.99 EPS for the current year.
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In other news, insider Elie Melhem sold 3,306 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $62.11, for a total value of $205,335.66. Following the transaction, the insider now directly owns 32,128 shares of the company’s stock, valued at $1,995,470.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in Watts Water Technologies by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after acquiring an additional 17 shares during the period. Suntrust Banks Inc. grew its holdings in Watts Water Technologies by 1.0% during the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock worth $207,000 after acquiring an additional 31 shares during the period. Manchester Capital Management LLC grew its holdings in Watts Water Technologies by 0.5% during the second quarter. Manchester Capital Management LLC now owns 11,040 shares of the technology company’s stock worth $698,000 after acquiring an additional 50 shares during the period. South State Corp grew its holdings in Watts Water Technologies by 1.5% during the second quarter. South State Corp now owns 3,347 shares of the technology company’s stock worth $212,000 after acquiring an additional 50 shares during the period. Finally, Eqis Capital Management Inc. grew its holdings in Watts Water Technologies by 1.1% during the second quarter. Eqis Capital Management Inc. now owns 5,932 shares of the technology company’s stock worth $375,000 after acquiring an additional 64 shares during the period. 77.64% of the stock is currently owned by institutional investors and hedge funds.
Watts Water Technologies Company Profile
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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