Analysts Set Watts Water Technologies, Inc. (NYSE:WTS) Target Price at $253.80

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have earned an average rating of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $253.80.

Several analysts have recently commented on WTS shares. Weiss Ratings reissued a “buy (b+)” rating on shares of Watts Water Technologies in a research note on Tuesday, October 14th. Barclays began coverage on 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Watts Water Technologies in a research note on Friday, August 8th. Stifel Nicolaus boosted their target price on Watts Water Technologies from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday.

Watts Water Technologies Price Performance

Shares of WTS stock opened at $281.47 on Tuesday. Watts Water Technologies has a 52 week low of $177.59 and a 52 week high of $287.89. The stock has a market capitalization of $9.39 billion, a PE ratio of 30.27, a PEG ratio of 3.30 and a beta of 1.13. 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 fifty day moving average is $278.23 and its 200-day moving average is $250.14.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 6th. The technology company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $612.15 million. During the same quarter in the prior year, the company earned $2.46 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts expect that Watts Water Technologies will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. Watts Water Technologies’s dividend payout ratio (DPR) is 22.37%.

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 that occurred on Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total transaction of $195,682.85. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Watts Water Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. MTM Investment Management LLC bought a new position in shares of Watts Water Technologies in the 2nd quarter worth $25,000. Cullen Frost Bankers Inc. lifted its stake in Watts Water Technologies by 156.9% in the second quarter. Cullen Frost Bankers Inc. now owns 131 shares of the technology company’s stock valued at $32,000 after buying an additional 80 shares during the period. Costello Asset Management INC acquired a new position in Watts Water Technologies in the first quarter valued at about $33,000. GAMMA Investing LLC boosted 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 worth $72,000 after buying an additional 62 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of Watts Water Technologies during the 1st quarter worth about $64,000. 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.