Watts Water Technologies, Inc. (WTS) Given Buy Rating at Boenning Scattergood
A number of other brokerages have also issued reports on WTS. Cowen and Company reaffirmed a hold rating and set a $58.00 target price on shares of Watts Water Technologies in a research report on Thursday, September 28th. Zacks Investment Research raised Watts Water Technologies from a hold rating to a buy rating and set a $79.00 target price on the stock in a research report on Tuesday, October 3rd. Robert W. Baird lifted their target price on Watts Water Technologies from $71.00 to $76.00 and gave the stock a neutral rating in a research report on Friday, November 3rd. KeyCorp reaffirmed a hold rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $79.00 target price on shares of Watts Water Technologies in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Watts Water Technologies presently has an average rating of Hold and a consensus target price of $72.83.
Watts Water Technologies (WTS) opened at $72.25 on Monday. Watts Water Technologies has a one year low of $59.15 and a one year high of $72.35. The company has a market capitalization of $2,460.36, a PE ratio of 24.67, a price-to-earnings-growth ratio of 2.00 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 2.57.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.03. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The business had revenue of $347.70 million for the quarter, compared to analyst estimates of $361.22 million. During the same period in the previous year, the company earned $0.71 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. sell-side analysts expect that Watts Water Technologies will post 3.01 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, November 30th. Watts Water Technologies’s dividend payout ratio is currently 28.15%.
In related news, insider Elie Melhem sold 2,545 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $70.48, for a total value of $179,371.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its holdings in Watts Water Technologies by 0.8% in 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 buying an additional 17 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Watts Water Technologies by 1.0% in the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock valued at $207,000 after acquiring an additional 31 shares during the period. Manchester Capital Management LLC boosted its stake in Watts Water Technologies by 0.5% in the second quarter. Manchester Capital Management LLC now owns 11,040 shares of the technology company’s stock valued at $698,000 after acquiring an additional 50 shares during the period. South State Corp boosted its stake in Watts Water Technologies by 1.5% in the second quarter. South State Corp now owns 3,347 shares of the technology company’s stock valued at $212,000 after acquiring an additional 50 shares during the period. Finally, Eqis Capital Management Inc. boosted 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 valued at $375,000 after acquiring an additional 64 shares during the period. 79.00% of the stock is owned by hedge funds and other institutional investors.
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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