Watts Water Technologies (NYSE:WTS) Stock Rating Lowered by Wall Street Zen

Watts Water Technologies (NYSE:WTS) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their target price on shares of Watts Water Technologies from $320.00 to $389.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Barclays boosted their price target on shares of Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a research note on Friday, February 13th. HSBC assumed coverage on shares of Watts Water Technologies in a research report on Tuesday, January 27th. They set a “buy” rating for the company. Jefferies Financial Group began coverage on Watts Water Technologies in a research note on Friday, December 12th. They issued a “hold” rating and a $300.00 price objective for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Watts Water Technologies presently has an average rating of “Moderate Buy” and an average target price of $334.11.

Watts Water Technologies Trading Down 0.3%

WTS opened at $329.04 on Friday. The stock has a market capitalization of $10.97 billion, a PE ratio of 32.35, a P/E/G ratio of 2.99 and a beta of 1.23. Watts Water Technologies has a one year low of $177.59 and a one year high of $345.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.49 and a current ratio of 2.51. The business’s 50 day moving average price is $302.31 and its 200 day moving average price is $285.58.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, February 11th. The technology company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.26. The company had revenue of $625.10 million for the quarter, compared to the consensus estimate of $610.40 million. Watts Water Technologies had a return on equity of 18.55% and a net margin of 13.98%.The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. As a group, equities research analysts expect that Watts Water Technologies will post 9.08 EPS for the current year.

Insider Activity

In other news, major shareholder Timothy P. Horne sold 7,500 shares of Watts Water Technologies stock in a transaction on Friday, February 20th. The shares were sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the completion of the sale, the insider directly owned 7,500 shares of the company’s stock, valued at approximately $2,475,300. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 5,025 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $321.08, for a total value of $1,613,427.00. Following the completion of the transaction, the general counsel directly owned 12,284 shares in the company, valued at $3,944,146.72. This trade represents a 29.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,196 shares of company stock valued at $9,514,741 over the last quarter. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Several hedge funds have recently added to or reduced their stakes in WTS. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of Watts Water Technologies in the third quarter valued at about $6,444,000. Allianz Asset Management GmbH grew its holdings in shares of Watts Water Technologies by 17.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 180,375 shares of the technology company’s stock worth $50,375,000 after acquiring an additional 27,093 shares during the period. AE Wealth Management LLC increased its stake in Watts Water Technologies by 10.9% in the 3rd quarter. AE Wealth Management LLC now owns 138,293 shares of the technology company’s stock valued at $38,622,000 after purchasing an additional 13,642 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Watts Water Technologies by 80.0% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,978 shares of the technology company’s stock worth $1,949,000 after purchasing an additional 3,101 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Watts Water Technologies by 10.5% in the second quarter. JPMorgan Chase & Co. now owns 245,741 shares of the technology company’s stock valued at $60,425,000 after purchasing an additional 23,447 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.