Watts Water Technologies (NYSE:WTS) Reaches New 12-Month High – What’s Next?

Watts Water Technologies, Inc. (NYSE:WTS)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $321.74 and last traded at $319.47, with a volume of 2134 shares changing hands. The stock had previously closed at $308.80.

Analyst Ratings Changes

Several equities research analysts have recently commented on WTS shares. HSBC assumed coverage on Watts Water Technologies in a report on Tuesday, January 27th. They set a “buy” rating for the company. Zacks Research raised shares of Watts Water Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, January 8th. Jefferies Financial Group started coverage on shares of Watts Water Technologies in a research report on Friday, December 12th. They issued a “hold” rating and a $300.00 target price on the stock. Finally, Royal Bank Of Canada started coverage on shares of Watts Water Technologies in a research report on Monday, January 5th. They issued a “sector perform” rating and a $288.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $288.57.

Watts Water Technologies Stock Up 0.3%

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 business has a 50 day simple moving average of $287.05 and a 200 day simple moving average of $278.72. The stock has a market cap of $10.68 billion, a PE ratio of 33.09, a P/E/G ratio of 2.97 and a beta of 1.24.

Insider Activity at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 6,994 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $278.65, for a total transaction of $1,948,878.10. Following the completion of the sale, the insider owned 23,006 shares in the company, valued at approximately $6,410,621.90. This represents a 23.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Virginia A. Halloran sold 605 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total value of $167,451.90. Following the completion of the transaction, the chief accounting officer directly owned 13,412 shares in the company, valued at $3,712,173.36. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 15,605 shares of company stock worth $4,296,387. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC lifted its stake in shares of Watts Water Technologies by 10.2% in the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after buying an additional 174 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Watts Water Technologies by 80.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after acquiring an additional 445 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after acquiring an additional 7,537 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Watts Water Technologies during the second quarter valued at about $219,000. Finally, Truist Financial Corp grew its position in shares of Watts Water Technologies by 94.7% in the second quarter. Truist Financial Corp now owns 3,002 shares of the technology company’s stock valued at $738,000 after purchasing an additional 1,460 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 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.