Watts Water Technologies (NYSE:WTS) Sets New 1-Year High - Here's What Happened

Key Points

• Watts Water Technologies' stock reached a new 52-week high of $281.60 during trading, currently standing at $278.50 after a volume of 168,163 shares.
• The company reported $3.09 earnings per share for the quarter, exceeding analysts' expectations, with a revenue of $643.70 million, representing a 7.8% increase year-over-year.
• Watts Water Technologies announced a quarterly dividend of $0.52, indicating a 0.7% dividend yield for investors.

Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $281.60 and last traded at $278.50, with a volume of 168163 shares traded. The stock had previously closed at $271.20.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WTS. Northcoast Research downgraded shares of Watts Water Technologies from a "buy" rating to a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Watts Water Technologies from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Watts Water Technologies in a research report on Friday, August 8th. Finally, Stifel Nicolaus lifted their target price on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Watts Water Technologies presently has a consensus rating of "Hold" and an average target price of $245.50.

Watts Water Technologies Stock Down 0.1%

The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 3.39 and a beta of 1.13. The firm's fifty day moving average is $256.32 and its 200-day moving average is $230.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.59 and a quick ratio of 1.63.

Watts Water Technologies (NYSE:WTS - Get Free Report) last released its quarterly earnings data 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. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The business had revenue of $643.70 million for the quarter, compared to analysts' expectations of $612.15 million. During the same quarter last year, the company earned $2.46 EPS. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. Watts Water Technologies's payout ratio is currently 22.37%.

Insider Activity at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 7,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $241.85, for a total transaction of $1,692,950.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph T. Noonan sold 713 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the sale, the director owned 1,194 shares of the company's stock, valued at $327,693.30. The trade was a 37.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Watts Water Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Watts Water Technologies by 18.6% in the 4th 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 acquired a new stake in shares of Watts Water Technologies in the 2nd quarter valued at approximately $80,386,000. Boston Partners raised its position in shares of Watts Water Technologies by 43.3% in 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 during the period. Nuveen LLC acquired a new stake in shares of Watts Water Technologies in the 1st quarter valued at approximately $49,199,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in Watts Water Technologies during the 2nd quarter worth approximately $50,400,000. Institutional investors own 95.02% of the company's stock.

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.

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