Watts Water Technologies (NYSE:WTS) Hits New 52-Week High - Here's Why

Key Points

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Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $278.66 and last traded at $279.20, with a volume of 10652 shares. The stock had previously closed at $274.41.

Wall Street Analysts Forecast Growth

WTS has been the topic of several recent research reports. Northcoast Research downgraded shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Watts Water Technologies in a report on Friday, August 8th. Wall Street Zen upgraded shares of Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus boosted their price target on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Watts Water Technologies presently has an average rating of "Hold" and a consensus price target of $245.50.

Watts Water Technologies Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.63 and a current ratio of 2.59. The stock's 50-day moving average is $253.60 and its 200 day moving average is $228.74. The stock has a market capitalization of $9.23 billion, a PE ratio of 29.84, a P/E/G ratio of 3.27 and a beta of 1.13.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.41. The firm had revenue of $643.70 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.46 EPS. As a group, equities analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, August 29th. Watts Water Technologies's dividend payout ratio (DPR) is 22.37%.

Insider Buying and Selling at Watts Water Technologies

In other news, Director Joseph T. Noonan sold 713 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the sale, the director owned 1,194 shares in the company, valued at approximately $327,693.30. This trade represents a 37.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Timothy P. Horne sold 7,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $241.85, for a total transaction of $1,692,950.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Watts Water Technologies

A number of large investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Watts Water Technologies by 0.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,470,140 shares of the technology company's stock valued at $503,711,000 after acquiring an additional 6,765 shares in the last quarter. Boston Partners increased its holdings in Watts Water Technologies by 43.3% during the 1st quarter. Boston Partners now owns 905,783 shares of the technology company's stock valued at $184,708,000 after acquiring an additional 273,628 shares in the last quarter. Geode Capital Management LLC increased its holdings in Watts Water Technologies by 20.7% during the 2nd quarter. Geode Capital Management LLC now owns 804,050 shares of the technology company's stock valued at $197,728,000 after acquiring an additional 138,034 shares in the last quarter. Mirova US LLC increased its holdings in Watts Water Technologies by 2.7% during the 2nd quarter. Mirova US LLC now owns 748,328 shares of the technology company's stock valued at $184,006,000 after acquiring an additional 19,344 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Watts Water Technologies by 0.9% during the 2nd quarter. First Trust Advisors LP now owns 545,724 shares of the technology company's stock valued at $134,188,000 after acquiring an additional 4,689 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company's stock.

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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