Watts Water Technologies (NYSE:WTS) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Watts Water Technologies, Inc. (NYSE:WTS)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $330.58 and traded as high as $352.92. Watts Water Technologies shares last traded at $351.29, with a volume of 148,552 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WTS. Weiss Ratings upgraded shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, September 14th. Barclays boosted their price objective on Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. TD Cowen upped their price objective on Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research report on Thursday, July 2nd. Royal Bank Of Canada lifted their target price on Watts Water Technologies from $350.00 to $417.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Finally, Stifel Nicolaus increased their price target on Watts Water Technologies from $379.00 to $403.00 and gave the company a “buy” rating in a report on Monday, July 20th. One 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $367.70.

Watts Water Technologies Stock Performance

The business has a fifty day simple moving average of $360.50 and a two-hundred day simple moving average of $330.82. The company has a market cap of $11.94 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 3.44 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, beating the consensus estimate of $3.34 by $0.32. The firm had revenue of $763.10 million during the quarter, compared to analyst estimates of $725.99 million. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.09 EPS. Research analysts anticipate that Watts Water Technologies, Inc. will post 12.75 earnings per share for the current year.

Watts Water Technologies Announces Dividend

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

Insider Activity

In other news, insider Elie Melhem sold 1,096 shares of Watts Water Technologies stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the sale, the insider directly owned 7,867 shares of the company’s stock, valued at $2,828,579.85. The trade was a 12.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph T. Noonan sold 3,650 shares of the company’s 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. grew its position in Watts Water Technologies by 5.8% in the second quarter. QRG Capital Management Inc. now owns 2,831 shares of the technology company’s stock worth $1,108,000 after acquiring an additional 154 shares during the period. Sequoia Financial Advisors LLC raised its position in Watts Water Technologies by 9.7% in the second quarter. Sequoia Financial Advisors LLC now owns 2,138 shares of the technology company’s stock valued at $837,000 after purchasing an additional 189 shares during the period. Tidal Investments LLC lifted its stake in shares of Watts Water Technologies by 18.7% in the 2nd quarter. Tidal Investments LLC now owns 30,668 shares of the technology company’s stock valued at $12,005,000 after purchasing an additional 4,832 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Watts Water Technologies by 769.2% in the 2nd quarter. NewEdge Advisors LLC now owns 113 shares of the technology company’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of Watts Water Technologies by 8,421.5% during the 2nd quarter. Squarepoint Ops LLC now owns 104,815 shares of the technology company’s stock worth $41,030,000 after purchasing an additional 103,585 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc is a manufacturer of products and systems designed to manage the safety, efficiency, and quality of water within residential, commercial, and industrial plumbing and heating applications. Its offerings help regulate water pressure and temperature, prevent backflow and contamination, control flow, and improve water quality.

The company’s products include valves, backflow prevention devices, regulators, drainage and plumbing components, water filtration and treatment systems, electric and hydronic heating equipment, and related controls.