Watts Water Technologies (NYSE:WTS) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Watts Water Technologies, Inc. (NYSE:WTS) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $328.00 and traded as high as $364.17. Watts Water Technologies shares last traded at $354.66, with a volume of 207,588 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $358.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Barclays increased their target price on shares of Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $379.00 to $403.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Royal Bank Of Canada boosted their price target on shares of Watts Water Technologies from $350.00 to $417.00 and gave the company a “sector perform” rating in a research report on Friday, August 7th. Finally, TD Cowen raised their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $367.70.

Watts Water Technologies Trading Up 1.0%

The business’s 50-day moving average price is $362.75 and its 200-day moving average price is $328.11. The firm has a market capitalization of $11.87 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 3.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The firm had revenue of $763.10 million during the quarter, compared to the consensus estimate of $725.99 million. During the same quarter in the prior year, the firm earned $3.09 EPS. Watts Water Technologies’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, analysts expect that Watts Water Technologies, Inc. will post 12.75 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s dividend payout ratio is 22.01%.

Insider Activity

In related news, Director Joseph Noonan sold 3,650 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Watts Water Technologies

A number of institutional investors have recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in shares of Watts Water Technologies by 37,958.7% during the second quarter. California State Teachers Retirement System now owns 12,479,817 shares of the technology company’s stock worth $4,885,224,000 after buying an additional 12,447,026 shares in the last quarter. Norges Bank acquired a new stake in Watts Water Technologies in the 4th quarter worth about $100,627,000. AQR Capital Management LLC grew its holdings in Watts Water Technologies by 148.3% in the 2nd quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company’s stock valued at $68,276,000 after buying an additional 165,837 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Watts Water Technologies by 20,071.4% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock valued at $40,989,000 after acquiring an additional 140,500 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Watts Water Technologies by 223.0% during the 3rd quarter. UBS Group AG now owns 202,250 shares of the technology company’s stock valued at $56,484,000 after acquiring an additional 139,637 shares during the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

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.