Watts Water Technologies, Inc. (NYSE:WTS) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Six of 11 brokerages rate Watts Water Technologies a hold, while five recommend buying it. The average 12-month price target is $367.70, near the stock’s reported $355.45 price.
• Quarterly results exceeded expectations: The company reported earnings of $3.66 per share versus the $3.34 consensus estimate, while revenue rose 18.6% year over year to $763.1 million.
• Institutional ownership remains high: Hedge funds and other institutions own 95.02% of the stock, while a company director recently sold 3,650 shares. Watts also declared a quarterly dividend of $0.63 per share, representing a 0.7% yield.

Shares of Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) have been assigned an average recommendation of "Hold" from the eleven ratings firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $367.70.

A number of equities analysts have issued reports on WTS shares. TD Cowen raised their price target on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $358.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Robert W. Baird set a $405.00 price objective on shares of Watts Water Technologies in a research note on Friday, August 7th. Weiss Ratings raised shares of Watts Water Technologies from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday. Finally, KeyCorp boosted their target price on shares of Watts Water Technologies from $380.00 to $400.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th.

Insiders Place Their Bets

In other Watts Water Technologies news, Director Joseph Noonan sold 3,650 shares of the business'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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Hedge Funds Weigh In On Watts Water Technologies

Institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its holdings in Watts Water Technologies by 10.2% during the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company's stock worth $385,000 after buying an additional 174 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Watts Water Technologies by 80.2% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company's stock valued at $222,000 after buying an additional 445 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Watts Water Technologies by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company's stock worth $20,163,000 after acquiring an additional 7,537 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Watts Water Technologies in the second quarter worth about $219,000. Finally, Cetera Investment Advisers boosted its stake in shares of Watts Water Technologies by 43.2% during the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company's stock worth $426,000 after acquiring an additional 523 shares in the last quarter. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Stock Performance

Shares of WTS stock opened at $355.45 on Friday. Watts Water Technologies has a 12-month low of $260.00 and a 12-month high of $394.54. The business's fifty day simple moving average is $362.37 and its 200-day simple moving average is $328.30. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The company has a market cap of $11.86 billion, a PE ratio of 31.04, a PEG ratio of 3.45 and a beta of 1.13.

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 for the quarter, topping the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.The firm had revenue of $763.10 million for the quarter, compared to the consensus estimate of $725.99 million. During the same period in the previous year, the business earned $3.09 EPS. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. Analysts expect that Watts Water Technologies will post 12.75 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, September 1st. Watts Water Technologies's dividend payout ratio (DPR) is currently 22.01%.

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.

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