Watts Water Technologies’ (WTS) Sector Perform Rating Reaffirmed at Royal Bank Of Canada

Watts Water Technologies (NYSE:WTS)‘s stock had its “sector perform” rating reissued by Royal Bank Of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $417.00 price target on the technology company’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 18.69% from the stock’s current price.

A number of other research firms also recently issued reports on WTS. The Goldman Sachs Group reissued a “neutral” rating and set a $374.00 price target on shares of Watts Water Technologies in a research report on Friday, August 7th. KeyCorp raised their price objective on Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Robert W. Baird set a $405.00 price objective on Watts Water Technologies in a research note on Friday, August 7th. Barclays boosted their target price on Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised shares of Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $367.70.

Watts Water Technologies Trading Up 0.1%

Watts Water Technologies stock traded up $0.25 during trading on Wednesday, reaching $351.34. The company had a trading volume of 265,043 shares, compared to its average volume of 260,323. Watts Water Technologies has a 12-month low of $260.00 and a 12-month high of $394.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66. The stock’s 50 day moving average price is $363.31 and its two-hundred day moving average price is $337.06. The firm has a market capitalization of $11.73 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 3.41 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.34 by $0.32. The company had revenue of $763.20 million for the quarter, compared to the consensus estimate of $725.99 million. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. Watts Water Technologies’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.09 earnings per share. As a group, equities analysts expect that Watts Water Technologies will post 12.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Watts Water Technologies

In other news, Director Joseph T. Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 1,096 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the completion of the transaction, the insider owned 7,867 shares in the company, valued at approximately $2,828,579.85. This trade represents a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Watts Water Technologies

Hedge funds have recently bought and sold shares of the business. First Citizens Bank & Trust Co. purchased a new position in shares of Watts Water Technologies during the 3rd quarter valued at approximately $1,056,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Watts Water Technologies in the third quarter worth $208,000. GAMMA Investing LLC raised its holdings in Watts Water Technologies by 21.1% in the third quarter. GAMMA Investing LLC now owns 579 shares of the technology company’s stock valued at $205,000 after acquiring an additional 101 shares in the last quarter. HWG Holdings LP raised its holdings in Watts Water Technologies by 18.9% in the third quarter. HWG Holdings LP now owns 13,217 shares of the technology company’s stock valued at $4,681,000 after acquiring an additional 2,099 shares in the last quarter. Finally, Cim Investment Management Inc. boosted its stake in Watts Water Technologies by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 2,063 shares of the technology company’s stock valued at $808,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs and manufactures products that help manage the safety, efficiency, and quality of water in residential, commercial, institutional, and industrial systems. Its offerings are used in plumbing, heating, water distribution, and drainage applications.

The company’s product portfolio includes backflow prevention devices, pressure regulators, safety and relief valves, water quality and conditioning equipment, leak detection products, drainage systems, and hydronic and HVAC components.