Watts Water Technologies’ (WTS) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

Watts Water Technologies (NYSE:WTS)‘s stock had its “sector perform” rating restated by stock analysts at Royal Bank Of Canada in a report issued on Wednesday, Benzinga reports. They currently have a $417.00 price target on the technology company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 18.84% from the stock’s previous close.

WTS has been the topic of a number of other research reports. Weiss Ratings raised Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 8th. TD Cowen raised their price target on Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. KeyCorp raised their price target on Watts Water Technologies from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Stifel Nicolaus raised their price target on Watts Water Technologies from $379.00 to $403.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, Robert W. Baird set a $405.00 price target on Watts Water Technologies in a research report on Friday, August 7th. One investment 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $367.70.

Watts Water Technologies Stock Performance

Shares of NYSE WTS traded down $0.20 during trading hours on Wednesday, reaching $350.89. 82,158 shares of the stock were exchanged, compared to its average volume of 259,351. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 3.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66. Watts Water Technologies has a 52 week low of $260.00 and a 52 week high of $394.54. The stock’s fifty day simple moving average is $363.53 and its 200 day simple moving average is $336.63.

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

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. bought a new stake in Watts Water Technologies during the 3rd quarter worth approximately $1,056,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Watts Water Technologies in the third quarter valued at approximately $208,000. GAMMA Investing LLC grew its holdings in Watts Water Technologies by 21.1% during the third quarter. GAMMA Investing LLC now owns 579 shares of the technology company’s stock valued at $205,000 after purchasing an additional 101 shares during the period. HWG Holdings LP grew its holdings in Watts Water Technologies by 18.9% during the third quarter. HWG Holdings LP now owns 13,217 shares of the technology company’s stock valued at $4,681,000 after purchasing an additional 2,099 shares during the period. Finally, Cim Investment Management Inc. grew its holdings in Watts Water Technologies by 7.3% during the second quarter. Cim Investment Management Inc. now owns 2,063 shares of the technology company’s stock valued at $808,000 after purchasing an additional 140 shares during the period. 95.02% of the stock is owned by institutional investors and hedge funds.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs and manufactures products that help manage the safety, efficiency, and quality of water in residential, commercial, institutional, and industrial systems. Its offerings are used in plumbing, heating, water distribution, and drainage applications.

The company’s product portfolio includes backflow prevention devices, pressure regulators, safety and relief valves, water quality and conditioning equipment, leak detection products, drainage systems, and hydronic and HVAC components.