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

Watts Water Technologies, Inc. (NYSE:WTS)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $325.71 and traded as high as $379.18. Watts Water Technologies shares last traded at $373.0410, with a volume of 143,325 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WTS. Robert W. Baird set a $405.00 target price on Watts Water Technologies in a research note on Friday, August 7th. The Goldman Sachs Group reissued a “neutral” rating and issued a $374.00 price objective on shares of Watts Water Technologies in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Watts Water Technologies in a research report on Friday, August 7th. Barclays increased their price objective on Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, TD Cowen increased their price objective on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $367.70.

Watts Water Technologies Stock Performance

The company’s 50 day moving average is $360.44 and its 200-day moving average is $326.17. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $12.54 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 3.09 and a beta of 1.15.

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

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies’s payout ratio is presently 22.01%.

Insider Transactions at Watts Water Technologies

In other Watts Water Technologies news, Director Michael J. Dubose sold 398 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the sale, the director owned 1,814 shares in the company, valued at $561,668.82. This represents a 17.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Watts Water Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Wexford Capital LP bought a new stake in shares of Watts Water Technologies in the 3rd quarter valued at about $26,000. Acumen Wealth Advisors LLC bought a new stake in Watts Water Technologies during the 4th quarter valued at approximately $28,000. Advisory Services Network LLC bought a new position in Watts Water Technologies in the third quarter worth $29,000. Clearstead Advisors LLC lifted its position in Watts Water Technologies by 69.4% during the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after acquiring an additional 43 shares during the period. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Watts Water Technologies in the 4th quarter worth approximately $29,000. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

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.