Watts Water Technologies (NYSE:WTS) Reaches New 1-Year High - What's Next?

Key Points

• Watts Water Technologies (NYSE:WTS) reached a new 52-week high of $287.89 in mid-day trading, closing at $285.05 with a trading volume of 45,347 shares.
• The company reported a quarterly EPS of $3.09, surpassing estimates, along with revenues of $643.70 million, reflecting a year-over-year increase of 7.8%.
• Watts Water Technologies announced a quarterly dividend of $0.52, translating to an annualized yield of 0.7%, with a payout ratio of 22.37%.

Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) hit a new 52-week high during trading on Wednesday . The stock traded as high as $287.89 and last traded at $285.05, with a volume of 45347 shares trading hands. The stock had previously closed at $281.27.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WTS shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Stifel Nicolaus increased their price objective on Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Wall Street Zen downgraded Watts Water Technologies from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Barclays started coverage on Watts Water Technologies in a research note on Friday. They issued an "equal weight" rating and a $287.00 price objective for the company. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $253.80.

Watts Water Technologies Trading Down 1.7%

The company has a fifty day simple moving average of $269.20 and a two-hundred day simple moving average of $240.00. The company has a quick ratio of 1.63, a current ratio of 2.59 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $9.37 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 3.37 and a beta of 1.11.

Watts Water Technologies (NYSE:WTS - Get Free Report) last issued 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 company had revenue of $643.70 million for the quarter, compared to analyst estimates of $612.15 million. Watts Water Technologies had a return on equity of 18.11% and a net margin of 13.63%.The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.46 earnings per share. On average, sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. Watts Water Technologies's payout ratio is 22.37%.

Insider Activity at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total value of $195,682.85. Following the completion of the sale, the director directly owned 1,194 shares in the company, valued at approximately $327,693.30. The trade was a 37.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Watts Water Technologies

Several institutional investors have recently made changes to their positions in WTS. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Watts Water Technologies by 18.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,463,375 shares of the technology company's stock worth $500,804,000 after purchasing an additional 386,333 shares during the last quarter. Norges Bank bought a new stake in Watts Water Technologies during the second quarter worth $80,386,000. Boston Partners lifted its stake in Watts Water Technologies by 43.3% during the first quarter. Boston Partners now owns 905,783 shares of the technology company's stock worth $184,708,000 after purchasing an additional 273,628 shares during the last quarter. Nuveen LLC bought a new stake in Watts Water Technologies during the first quarter worth $49,199,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Watts Water Technologies in the 2nd quarter valued at $50,400,000. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Company Profile

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.