Watts Water Technologies, Inc. (NYSE:WTS) Receives Average Recommendation of “Hold” from Analysts

Watts Water Technologies, Inc. (NYSE:WTS) has received a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $334.1111.

Several brokerages have issued reports on WTS. HSBC initiated coverage on Watts Water Technologies in a research note on Tuesday, January 27th. They issued a “buy” rating for the company. Barclays increased their target price on shares of Watts Water Technologies from $300.00 to $323.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. KeyCorp upped their price target on shares of Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Robert W. Baird set a $361.00 price objective on Watts Water Technologies in a report on Friday, February 13th. Finally, Wells Fargo & Company set a $275.00 target price on Watts Water Technologies in a report on Thursday, January 8th.

Insider Activity

In other Watts Water Technologies news, 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 transaction of $1,613,427.00. Following the completion of the sale, the general counsel owned 12,284 shares of the company’s stock, valued at $3,944,146.72. This represents a 29.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Timothy P. Horne sold 7,500 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was 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 in the company, valued at approximately $2,475,300. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 29,196 shares of company stock valued at $9,514,741. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Watts Water Technologies

Several hedge funds have recently made changes to their positions in the business. Advyzon Investment Management LLC boosted its holdings in Watts Water Technologies by 3.8% in the fourth quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company’s stock valued at $233,000 after acquiring an additional 31 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Watts Water Technologies by 0.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company’s stock worth $1,149,000 after purchasing an additional 32 shares during the period. C M Bidwell & Associates Ltd. lifted its position in shares of Watts Water Technologies by 5.5% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company’s stock worth $179,000 after purchasing an additional 34 shares during the period. World Investment Advisors boosted its stake in shares of Watts Water Technologies by 1.4% during the 3rd quarter. World Investment Advisors now owns 2,648 shares of the technology company’s stock valued at $740,000 after purchasing an additional 37 shares in the last quarter. Finally, Centennial Wealth Advisory LLC increased its position in shares of Watts Water Technologies by 3.8% during the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock valued at $279,000 after buying an additional 37 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Down 1.7%

WTS opened at $302.97 on Friday. The business’s fifty day simple moving average is $307.86 and its 200 day simple moving average is $287.76. Watts Water Technologies has a 52 week low of $177.59 and a 52 week high of $345.17. The company has a quick ratio of 1.49, a current ratio of 2.51 and a debt-to-equity ratio of 0.10. The stock has a market cap of $10.10 billion, a PE ratio of 29.79, a P/E/G ratio of 2.80 and a beta of 1.23.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.26. The firm had revenue of $625.10 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. As a group, research analysts expect that Watts Water Technologies will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.52 dividend. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, February 27th. Watts Water Technologies’s payout ratio is presently 20.45%.

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.