Other equities analysts have also issued reports about the company. Zacks Investment Research raised Watts Water Technologies from a hold rating to a buy rating and set a $79.00 price objective on the stock in a research note on Tuesday, October 3rd. BidaskClub lowered Watts Water Technologies from a hold rating to a sell rating in a research note on Monday, July 31st. Stifel Nicolaus initiated coverage on Watts Water Technologies in a research note on Monday, September 18th. They issued a buy rating and a $72.00 price target on the stock. KeyCorp restated a hold rating on shares of Watts Water Technologies in a report on Friday, November 3rd. Finally, Robert W. Baird boosted their price objective on Watts Water Technologies from $71.00 to $76.00 and gave the company a neutral rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Watts Water Technologies currently has a consensus rating of Hold and an average target price of $72.83.
Shares of Watts Water Technologies (WTS) opened at $72.50 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. Watts Water Technologies has a twelve month low of $59.15 and a twelve month high of $73.40. The firm has a market capitalization of $2,467.19, a price-to-earnings ratio of 24.74, a PEG ratio of 2.00 and a beta of 1.12.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.05%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 28.15%.
In related news, insider Elie Melhem sold 2,545 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $70.48, for a total transaction of $179,371.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC lifted its holdings in Watts Water Technologies by 44.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock worth $109,000 after buying an additional 532 shares during the period. Acrospire Investment Management LLC lifted its holdings in Watts Water Technologies by 157.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock worth $114,000 after buying an additional 1,100 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Watts Water Technologies by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after buying an additional 17 shares during the period. Bruderman Asset Management LLC purchased a new stake in Watts Water Technologies in the 2nd quarter worth approximately $130,000. Finally, Quantbot Technologies LP lifted its holdings in Watts Water Technologies by 823.9% in the 2nd quarter. Quantbot Technologies LP now owns 2,282 shares of the technology company’s stock worth $144,000 after buying an additional 2,035 shares during the period. Institutional investors and hedge funds own 79.00% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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