Watts Water Technologies (NYSE:WTS) Earns "Sector Perform" Rating from Royal Bank Of Canada

Watts Water Technologies (NYSE:WTS - Get Free Report)'s stock had its "sector perform" rating reaffirmed by investment analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $417.00 price target on the technology company's stock. Royal Bank Of Canada's target price indicates a potential upside of 19.19% from the stock's previous close.

Several other analysts also recently commented on the company. KeyCorp upped their price objective on Watts Water Technologies from $380.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Robert W. Baird set a $405.00 target price on Watts Water Technologies in a research note on Friday, August 7th. Weiss Ratings raised Watts Water Technologies from a "buy (a-)" rating to a "buy (a)" rating in a research note on Thursday, October 8th. Stifel Nicolaus increased their target price on Watts Water Technologies from $379.00 to $403.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, Barclays increased their target price 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. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have assigned a Hold rating to the company. 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 Down 0.3%

Shares of NYSE:WTS traded down $1.22 on Wednesday, hitting $349.87. 38,574 shares of the company's stock were exchanged, compared to its average volume of 259,056. The firm's 50-day moving average is $363.53 and its 200 day moving average is $336.63. The company has a market capitalization of $11.68 billion, a PE ratio of 30.56, a P/E/G ratio of 3.41 and a beta of 1.15. Watts Water Technologies has a 1-year low of $260.00 and a 1-year high of $394.54. 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 (NYSE:WTS - Get Free Report) last announced its earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.32. The firm had revenue of $763.20 million during the quarter, compared to analysts' expectations 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 was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.09 EPS. Sell-side analysts predict that Watts Water Technologies will post 12.87 EPS for the current year.

Insider Buying and Selling

In related news, insider Elie Melhem sold 1,096 shares of the company's 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 owned 7,867 shares in the company, valued at $2,828,579.85. This represents a 12.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph T. Noonan sold 3,650 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total value of $1,291,078.00. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently modified their holdings of WTS. First Trust Advisors LP grew its holdings in Watts Water Technologies by 6.7% during the 1st quarter. First Trust Advisors LP now owns 545,404 shares of the technology company's stock valued at $158,325,000 after buying an additional 34,381 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Watts Water Technologies by 79.8% during the 1st quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company's stock valued at $63,525,000 after buying an additional 97,115 shares during the last quarter. Squarepoint Ops LLC grew its holdings in 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 valued at $41,030,000 after buying an additional 103,585 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Watts Water Technologies by 20,071.4% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company's stock valued at $40,989,000 after buying an additional 140,500 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Watts Water Technologies by 58.7% during the 1st quarter. Renaissance Technologies LLC now owns 135,140 shares of the technology company's stock valued at $39,230,000 after buying an additional 49,960 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company's stock.

About Watts Water Technologies

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.