Watts Water Technologies, Inc. (NYSE:WTS) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $279.25.

Several research firms have recently weighed in on WTS. Zacks Research upgraded Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, December 29th. Barclays upped their target price on shares of Watts Water Technologies from $287.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a report on Monday, December 29th. Finally, Jefferies Financial Group started coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 price target for the company.

Insider Activity at Watts Water Technologies

In other news, CAO Virginia A. Halloran sold 605 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 13,412 shares in the company, valued at approximately $3,712,173.36. This represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Timothy P. Horne sold 6,814 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $272.32, for a total value of $1,855,588.48. Following the completion of the transaction, the insider owned 15,000 shares in the company, valued at $4,084,800. The trade was a 31.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 15,605 shares of company stock valued at $4,296,387. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Watts Water Technologies

A number of large investors have recently bought and sold shares of WTS. Allworth Financial LP raised its position in shares of Watts Water Technologies by 29.7% in the 3rd quarter. Allworth Financial LP now owns 253 shares of the technology company’s stock valued at $71,000 after buying an additional 58 shares in the last quarter. IFP Advisors Inc increased its stake in Watts Water Technologies by 15.9% in the third quarter. IFP Advisors Inc now owns 335 shares of the technology company’s stock valued at $94,000 after acquiring an additional 46 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new position in Watts Water Technologies during the third quarter valued at approximately $352,000. CIBC Bancorp USA Inc. acquired a new position in Watts Water Technologies during the third quarter valued at approximately $818,000. Finally, Coldstream Capital Management Inc. bought a new stake in Watts Water Technologies during the third quarter worth $1,913,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Trading Up 0.8%

Shares of WTS stock opened at $278.36 on Friday. The company has a market capitalization of $9.28 billion, a P/E ratio of 28.73, a P/E/G ratio of 2.70 and a beta of 1.24. Watts Water Technologies has a 12-month low of $177.59 and a 12-month high of $287.89. The company has a quick ratio of 1.84, a current ratio of 2.83 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $275.35 and a 200 day moving average price of $270.33.

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

Watts Water Technologies Dividend Announcement

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

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.