Watts Water Technologies (NYSE:WTS) Earns Buy (B+) Rating from Weiss Ratings

Key Points

• Watts Water Technologies received a "buy (B+)" rating from Weiss Ratings, indicating strong investor confidence in the stock.
• The company's stock price increased by 1.1%, reaching $274.16 during midday trading, and it has a market cap of $9.15 billion.
• Watts Water Technologies reported an earnings per share (EPS) of $3.09, surpassing analyst expectations and reflecting a 7.8% year-over-year revenue growth.

Watts Water Technologies (NYSE:WTS - Get Free Report)'s stock had its "buy (b+)" rating restated by equities researchers at Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

WTS has been the subject of a number of other research reports. Stifel Nicolaus boosted their price target on shares of Watts Water Technologies from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wall Street Zen lowered shares of Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Finally, Barclays started coverage on shares of Watts Water Technologies in a report on Friday, September 19th. They set an "equal weight" rating and a $287.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $253.80.

Watts Water Technologies Stock Up 1.1%

WTS stock traded up $2.92 during midday trading on Tuesday, reaching $274.16. 24,561 shares of the company's stock traded hands, compared to its average volume of 193,467. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 3.21 and a beta of 1.13. The firm's fifty day moving average price is $276.89 and its 200-day moving average price is $247.45. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10. Watts Water Technologies has a 52 week low of $177.59 and a 52 week high of $287.89.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.41. The business had revenue of $643.70 million during the quarter, compared to analyst estimates of $612.15 million. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. Watts Water Technologies's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 EPS. As a group, sell-side analysts forecast that Watts Water Technologies will post 9.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the transaction, the director directly owned 1,194 shares of the company's stock, valued at approximately $327,693.30. The trade was a 37.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Watts Water Technologies

Institutional investors have recently added to or reduced their stakes in the business. MTM Investment Management LLC purchased a new stake in Watts Water Technologies during the second quarter valued at about $25,000. Cullen Frost Bankers Inc. lifted its holdings in Watts Water Technologies by 156.9% during the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company's stock valued at $32,000 after purchasing an additional 80 shares during the last quarter. Costello Asset Management INC purchased a new stake in Watts Water Technologies during the first quarter valued at about $33,000. GAMMA Investing LLC lifted its holdings in Watts Water Technologies by 31.6% during the third quarter. GAMMA Investing LLC now owns 258 shares of the technology company's stock valued at $72,000 after purchasing an additional 62 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Watts Water Technologies during the first quarter valued at about $64,000. 95.02% of the stock is owned by hedge funds and other institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.

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