Watts Water Technologies (NYSE:WTS) Shares Cross Above 50-Day Moving Average – Here’s Why

Watts Water Technologies, Inc. (NYSE:WTS) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $359.97 and traded as high as $368.34. Watts Water Technologies shares last traded at $367.1710, with a volume of 210,164 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, August 7th. KeyCorp increased their price objective on shares of Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Robert W. Baird set a $405.00 target price on shares of Watts Water Technologies in a report on Friday, August 7th. TD Cowen lifted their target price on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Finally, Stifel Nicolaus set a $445.00 target price on shares of Watts Water Technologies in a research report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $371.90.

Watts Water Technologies Stock Up 2.4%

The company’s 50 day moving average price is $359.97 and its two-hundred day moving average price is $329.35. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The stock has a market cap of $12.26 billion, a P/E ratio of 32.07, a PEG ratio of 3.49 and a beta of 1.15.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) 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%. The firm’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.09 earnings per share. Equities analysts forecast that Watts Water Technologies, Inc. will post 12.87 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.63 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 22.01%.

Insider Activity at Watts Water Technologies

In other news, insider Elie Melhem sold 1,096 shares of Watts Water Technologies stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total transaction of $394,066.80. Following the transaction, the insider owned 7,867 shares in the company, valued at $2,828,579.85. This trade represents a 12.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joseph Noonan sold 3,650 shares of Watts Water Technologies stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The SEC filing for this sale provides additional information. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Watts Water Technologies

Institutional investors have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Watts Water Technologies by 20,071.4% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company’s stock valued at $40,989,000 after purchasing an additional 140,500 shares in the last quarter. Squarepoint Ops LLC increased its position in Watts Water Technologies by 8,421.5% in the second quarter. Squarepoint Ops LLC now owns 104,815 shares of the technology company’s stock worth $41,030,000 after buying an additional 103,585 shares in the last quarter. Lazard Asset Management LLC increased its position in Watts Water Technologies by 79.8% in the first quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company’s stock worth $63,525,000 after buying an additional 97,115 shares in the last quarter. Renaissance Technologies LLC increased its position in Watts Water Technologies by 58.7% in the first quarter. Renaissance Technologies LLC now owns 135,140 shares of the technology company’s stock worth $39,230,000 after buying an additional 49,960 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Watts Water Technologies by 6.7% in the first quarter. First Trust Advisors LP now owns 545,404 shares of the technology company’s stock worth $158,325,000 after buying an additional 34,381 shares during the period. 95.02% of the stock is owned by institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.