Watts Water Technologies (NYSE:WTS) Raised to “Hold” at Royal Bank Of Canada

Watts Water Technologies (NYSE:WTS) was upgraded by equities research analysts at Royal Bank Of Canada to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms have also weighed in on WTS. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 13th. Barclays boosted their target price on Watts Water Technologies from $287.00 to $300.00 and gave the company an “equal weight” rating in a research note on Friday, November 7th. Jefferies Financial Group assumed coverage on shares of Watts Water Technologies in a research report on Friday, December 12th. They set a “hold” rating and a $300.00 price objective for the company. Finally, Zacks Research upgraded shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Watts Water Technologies currently has an average rating of “Hold” and a consensus target price of $281.00.

Watts Water Technologies Stock Up 0.9%

Shares of NYSE:WTS opened at $283.88 on Monday. The company has a 50 day moving average of $275.61 and a 200-day moving average of $271.13. Watts Water Technologies has a one year low of $177.59 and a one year high of $287.89. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.83 and a quick ratio of 1.84.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, November 5th. The technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.21. Watts Water Technologies had a return on equity of 18.31% and a net margin of 13.79%.The company had revenue of $611.70 million for the quarter, compared to the consensus estimate of $576.20 million. During the same quarter in the prior year, the business posted $2.03 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. On average, sell-side analysts forecast that Watts Water Technologies will post 9.08 earnings per share for the current year.

Insider Activity

In related news, major shareholder Timothy P. Horne sold 6,814 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total value of $1,855,588.48. Following the transaction, the insider owned 15,000 shares in the company, valued at approximately $4,084,800. This represents a 31.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Virginia A. Halloran sold 605 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $276.78, for a total transaction of $167,451.90. Following the sale, the chief accounting officer owned 13,412 shares in the company, valued at $3,712,173.36. This represents a 4.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,605 shares of company stock valued at $4,296,387 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Watts Water Technologies

Several hedge funds have recently modified their holdings of WTS. Boston Partners lifted its holdings in shares of Watts Water Technologies by 2.2% during the third quarter. Boston Partners now owns 907,336 shares of the technology company’s stock worth $253,211,000 after purchasing an additional 19,247 shares during the period. Geode Capital Management LLC increased its stake in shares of Watts Water Technologies by 20.7% in the second quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company’s stock valued at $197,728,000 after buying an additional 138,034 shares during the period. Mirova US LLC raised its position in shares of Watts Water Technologies by 2.7% during the second quarter. Mirova US LLC now owns 748,328 shares of the technology company’s stock worth $184,006,000 after acquiring an additional 19,344 shares during the last quarter. First Trust Advisors LP boosted its holdings in Watts Water Technologies by 0.9% in the second quarter. First Trust Advisors LP now owns 545,724 shares of the technology company’s stock valued at $134,188,000 after acquiring an additional 4,689 shares during the last quarter. Finally, Boston Trust Walden Corp raised its holdings in Watts Water Technologies by 1.0% during the 2nd quarter. Boston Trust Walden Corp now owns 518,722 shares of the technology company’s stock worth $127,549,000 after purchasing an additional 5,193 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.