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

Key Points

• Watts Water Technologies has a consensus analyst rating of “Hold”, based on coverage from 11 brokerages. Seven analysts rate it Hold, while four recommend Buy, with an average 1-year price target of about $329.44.
• The company recently reported strong quarterly results, posting EPS of $3.04 versus expectations of $2.72 and revenue of $677.3 million, above estimates. Revenue rose 21.4% year over year, and the stock traded up 3.2% in the article.
• Watts Water Technologies also announced a quarterly dividend of $0.63 per share, payable June 15, which annualizes to $2.52 and yields about 0.8%. The payout ratio is relatively low at 19.03%, while insider selling and recent institutional buying were also noted.

Shares of Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) have received a consensus rating of "Hold" from the eleven brokerages that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $329.4444.

A number of research analysts recently commented on the stock. KeyCorp increased their price target on shares of Watts Water Technologies from $340.00 to $360.00 and gave the company an "overweight" rating in a report on Thursday, February 12th. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a report on Friday, May 8th. Weiss Ratings downgraded shares of Watts Water Technologies from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 11th. Robert W. Baird set a $330.00 price target on shares of Watts Water Technologies in a report on Friday, May 8th. Finally, The Goldman Sachs Group increased their price target on shares of Watts Water Technologies from $267.00 to $323.00 and gave the company a "neutral" rating in a report on Friday, February 13th.

Watts Water Technologies Trading Up 3.2%

Shares of Watts Water Technologies stock opened at $312.14 on Wednesday. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.69 and a beta of 1.20. The business has a 50-day moving average price of $297.75 and a 200-day moving average price of $294.85. The company has a quick ratio of 1.62, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. Watts Water Technologies has a twelve month low of $237.15 and a twelve month high of $345.17.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 earnings per share 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 business's quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.37 earnings per share. Equities research analysts anticipate that Watts Water Technologies will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.8%. Watts Water Technologies's dividend payout ratio (DPR) is presently 19.03%.

Insider Transactions at Watts Water Technologies

In related news, insider Elie Melhem sold 2,257 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the transaction, the insider 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Dubose sold 332 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $301.70, for a total transaction of $100,164.40. Following the completion of the transaction, the director directly owned 2,212 shares of the company's stock, valued at approximately $667,360.40. The trade was a 13.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,340 shares of company stock valued at $1,001,905. 1.00% of the stock is owned by insiders.

Institutional Trading of Watts Water Technologies

Several institutional investors have recently added to or reduced their stakes in WTS. Wexford Capital LP bought a new stake in Watts Water Technologies in the third quarter worth about $26,000. Acumen Wealth Advisors LLC bought a new stake in Watts Water Technologies in the fourth quarter worth about $28,000. Clearstead Advisors LLC lifted its stake in Watts Water Technologies by 69.4% in the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company's stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Advisory Services Network LLC bought a new stake in Watts Water Technologies in the third quarter worth about $29,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Watts Water Technologies in the fourth quarter worth about $29,000. Institutional investors own 95.02% of the company's stock.

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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