Watts Water Technologies, Inc. (NYSE:WTS) Receives $288.57 Average Price Target from Brokerages

Watts Water Technologies, Inc. (NYSE:WTS) has earned an average recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $288.5714.

WTS has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research report on Monday, December 29th. Wall Street Zen raised shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Royal Bank Of Canada initiated coverage on shares of Watts Water Technologies in a research note on Monday, January 5th. They set a “sector perform” rating and a $288.00 price objective for the company. Jefferies Financial Group started coverage on shares of Watts Water Technologies in a report on Friday, December 12th. They set a “hold” rating and a $300.00 price objective on the stock. Finally, Wells Fargo & Company set a $275.00 target price on Watts Water Technologies in a research note on Thursday, January 8th.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total transaction of $167,451.90. Following the completion of the sale, the chief accounting officer directly owned 13,412 shares in the company, valued at approximately $3,712,173.36. The trade was a 4.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Timothy P. Horne sold 6,814 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total transaction of $1,855,588.48. Following the completion of the sale, the insider directly owned 15,000 shares in the company, valued at $4,084,800. This trade represents a 31.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 15,605 shares of company stock valued at $4,296,387 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. MTM Investment Management LLC acquired a new stake in Watts Water Technologies during the 2nd quarter worth about $25,000. Wexford Capital LP acquired a new position in shares of Watts Water Technologies in the 3rd quarter valued at about $26,000. Advisory Services Network LLC purchased a new stake in shares of Watts Water Technologies in the third quarter worth about $29,000. Cullen Frost Bankers Inc. grew its holdings in Watts Water Technologies by 156.9% during the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock worth $32,000 after acquiring an additional 80 shares during the period. Finally, Stance Capital LLC purchased a new position in Watts Water Technologies during the third quarter valued at approximately $62,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Down 0.4%

Watts Water Technologies stock opened at $298.40 on Thursday. Watts Water Technologies has a 1-year low of $177.59 and a 1-year high of $306.01. The business has a fifty day moving average price of $281.42 and a 200-day moving average price of $275.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.83 and a quick ratio of 1.84. The stock has a market capitalization of $9.95 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.79 and a beta of 1.24.

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

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, December 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 21.47%.

Watts Water Technologies Company Profile

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.