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

Key Points

• Watts Water Technologies has a consensus analyst rating of “Hold”, with 7 of 11 analysts recommending hold and 4 recommending buy. The average 12-month price target is about $329.44.
• The company recently beat earnings and revenue estimates, reporting EPS of $3.04 versus $2.72 expected and revenue of $677.3 million versus $638.13 million expected. Revenue rose 21.4% year over year.
• Insiders have been selling shares, including a director and an executive, while institutional investors remain heavily involved, owning 95.02% of the stock. Watts Water also recently paid a quarterly dividend of $0.63 per share.

Shares of Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) have been assigned a consensus rating of "Hold" from the eleven analysts that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $329.4444.

Several analysts recently commented on the stock. Barclays cut their target price on shares of Watts Water Technologies from $323.00 to $317.00 and set an "equal weight" rating for the company in a research note on Monday, May 11th. Weiss Ratings lowered shares of Watts Water Technologies from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 28th. Robert W. Baird set a $330.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $358.00 target price on shares of Watts Water Technologies in a research note on Friday, May 8th.

Insider Activity at Watts Water Technologies

In other news, insider Elie Melhem sold 2,257 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total transaction of $679,357.00. Following the sale, the insider owned 8,963 shares in the company, valued at $2,697,863. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The shares were 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 position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Watts Water Technologies

Large investors have recently made changes to their positions in the company. Clark Capital Management Group Inc. increased its stake in Watts Water Technologies by 17.4% in the 3rd quarter. Clark Capital Management Group Inc. now owns 27,985 shares of the technology company's stock valued at $7,816,000 after buying an additional 4,140 shares during the period. Cumberland Partners Ltd increased its stake in Watts Water Technologies by 100.0% in the 4th quarter. Cumberland Partners Ltd now owns 13,000 shares of the technology company's stock valued at $3,588,000 after buying an additional 6,500 shares during the period. Boothbay Fund Management LLC acquired a new position in shares of Watts Water Technologies during the 3rd quarter worth $6,308,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Watts Water Technologies by 80.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,978 shares of the technology company's stock worth $1,949,000 after purchasing an additional 3,101 shares during the last quarter. Finally, Mach 1 Financial Group LLC acquired a new position in shares of Watts Water Technologies during the 4th quarter worth $1,950,000. Institutional investors and hedge funds own 95.02% of the company's stock.

Watts Water Technologies Stock Performance

Shares of NYSE WTS opened at $344.78 on Friday. The stock has a fifty day moving average price of $308.19 and a two-hundred day moving average price of $301.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The firm has a market cap of $11.51 billion, a P/E ratio of 31.54, a PEG ratio of 3.05 and a beta of 1.19. Watts Water Technologies has a 1 year low of $238.58 and a 1 year high of $348.09.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.72 by $0.32. The firm had revenue of $677.30 million during the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The firm's quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the company posted $2.37 EPS. Research analysts forecast that Watts Water Technologies will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies's dividend payout ratio is currently 23.06%.

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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