Shares of Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) have received a consensus rating of "Hold" from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $367.70.
A number of analysts have weighed in on the stock. TD Cowen increased their target price on shares of Watts Water Technologies from $275.00 to $320.00 and gave the stock a "hold" rating in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $358.00 price target on shares of Watts Water Technologies in a research report on Friday, May 8th. Robert W. Baird set a $405.00 target price on shares of Watts Water Technologies in a research note on Friday. Weiss Ratings downgraded shares of Watts Water Technologies from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 11th. Finally, Royal Bank Of Canada upped their price target on shares of Watts Water Technologies from $350.00 to $417.00 and gave the stock a "sector perform" rating in a research note on Friday.
Get Our Latest Stock Analysis on WTS
Watts Water Technologies Stock Performance
Watts Water Technologies stock opened at $392.90 on Monday. Watts Water Technologies has a 12-month low of $260.00 and a 12-month high of $394.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 3.35 and a beta of 1.15. The firm's fifty day moving average price is $346.18 and its 200 day moving average price is $319.46.
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 company had revenue of $763.10 million for the quarter, compared to analyst estimates of $725.99 million. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%.Watts Water Technologies's quarterly revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.09 EPS. On average, research analysts forecast that Watts Water Technologies will post 12.37 EPS for the current fiscal year.
Watts Water Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.52 annualized dividend and a yield of 0.6%. Watts Water Technologies's payout ratio is presently 22.01%.
Insider Buying and Selling
In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total transaction of $679,357.00. Following the completion of the transaction, the insider directly owned 8,963 shares of the company's stock, valued at approximately $2,697,863. This trade represents a 20.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total value of $123,232.74. Following the transaction, the director owned 1,814 shares in the company, valued at approximately $561,668.82. This trade represents a 17.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Watts Water Technologies during the 4th quarter worth $100,627,000. AQR Capital Management LLC raised its position in shares of Watts Water Technologies by 148.3% during the second quarter. AQR Capital Management LLC now owns 277,669 shares of the technology company's stock worth $68,276,000 after purchasing an additional 165,837 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Watts Water Technologies by 20,071.4% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 141,200 shares of the technology company's stock worth $40,989,000 after purchasing an additional 140,500 shares during the period. UBS Group AG lifted its holdings in shares of Watts Water Technologies by 223.0% during the third quarter. UBS Group AG now owns 202,250 shares of the technology company's stock valued at $56,484,000 after purchasing an additional 139,637 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Watts Water Technologies by 79.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 282,830 shares of the technology company's stock valued at $78,067,000 after purchasing an additional 125,218 shares during the period. 95.02% of the stock is owned by institutional investors and hedge funds.
About Watts Water Technologies
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Watts Water Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Watts Water Technologies wasn't on the list.
While Watts Water Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
