Watts Water Technologies’ (WTS) Hold Rating Reiterated at Robert W. Baird
Robert W. Baird reaffirmed their hold rating on shares of Watts Water Technologies, Inc. (NYSE:WTS) in a research note released on Wednesday. Robert W. Baird currently has a $71.00 price target on the technology company’s stock.
A number of other analysts also recently commented on WTS. BidaskClub downgraded Watts Water Technologies from a sell rating to a strong sell rating in a research report on Saturday, June 17th. Stifel Nicolaus began coverage on Watts Water Technologies in a research report on Monday, September 18th. They set a buy rating and a $72.00 price target for the company. Boenning Scattergood reaffirmed an outperform rating on shares of Watts Water Technologies in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Watts Water Technologies in a research report on Wednesday, June 14th. Finally, Zacks Investment Research raised Watts Water Technologies from a hold rating to a buy rating and set a $79.00 price target for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Watts Water Technologies presently has a consensus rating of Hold and a consensus target price of $70.83.
Shares of Watts Water Technologies (WTS) opened at 69.45 on Wednesday. Watts Water Technologies has a 52-week low of $58.35 and a 52-week high of $71.05. The stock’s 50 day moving average price is $65.18 and its 200-day moving average price is $63.42. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 27.13 and a beta of 1.08.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $378.50 million during the quarter, compared to the consensus estimate of $379.51 million. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 earnings per share. On average, analysts forecast that Watts Water Technologies will post $2.99 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Wednesday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is 29.69%.
In other Watts Water Technologies news, insider Elie Melhem sold 3,306 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of 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 SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverhead Capital Management LLC grew its holdings in Watts Water Technologies by 44.3% during the second quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock valued at $109,000 after purchasing an additional 532 shares during the period. Acrospire Investment Management LLC grew its holdings in Watts Water Technologies by 157.1% during the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock valued at $114,000 after purchasing an additional 1,100 shares during the period. 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 valued at $129,000 after purchasing an additional 17 shares during the period. Bruderman Asset Management LLC bought a new position in Watts Water Technologies during the second quarter valued at $130,000. Finally, Bank of Montreal Can grew its holdings in Watts Water Technologies by 8.8% during the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock valued at $138,000 after purchasing an additional 180 shares during the period. 77.64% of the stock is 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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