Brokerages Set Watts Water Technologies, Inc. (NYSE:WTS) PT at $329.44

Watts Water Technologies, Inc. (NYSE:WTSGet Free Report) has earned a consensus rating of “Hold” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $329.4444.

A number of research analysts have recently commented on WTS shares. Zacks Research downgraded Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $358.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. KeyCorp increased their target price on Watts Water Technologies from $340.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Wall Street Zen downgraded Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings lowered Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th.

Read Our Latest Research Report on Watts Water Technologies

Insider Buying and Selling at Watts Water Technologies

In related news, Director Michael J. Dubose sold 398 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $309.63, for a total transaction of $123,232.74. Following the sale, the director owned 1,814 shares in the company, valued at approximately $561,668.82. This represents a 17.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Elie Melhem sold 2,257 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $301.00, for a total value of $679,357.00. Following the sale, the insider owned 8,963 shares in the company, valued at $2,697,863. The trade was a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,738 shares of company stock worth $1,125,138 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Watts Water Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Wexford Capital LP bought a new stake in shares of Watts Water Technologies during the third quarter worth $26,000. Acumen Wealth Advisors LLC bought a new stake in shares of Watts Water Technologies during the fourth quarter worth $28,000. Advisory Services Network LLC bought a new stake in shares of Watts Water Technologies during the third quarter worth $29,000. Clearstead Advisors LLC lifted its position in shares of Watts Water Technologies by 69.4% during the fourth quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after purchasing an additional 43 shares during the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Watts Water Technologies during the fourth quarter worth $29,000. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Stock Up 0.9%

NYSE WTS opened at $309.79 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.72. The company has a market capitalization of $10.34 billion, a P/E ratio of 28.34, a P/E/G ratio of 2.73 and a beta of 1.19. Watts Water Technologies has a one year low of $237.72 and a one year high of $345.17. The stock has a 50 day moving average price of $298.71 and a 200-day moving average price of $295.93.

Watts Water Technologies (NYSE:WTSGet Free Report) last posted its earnings results on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32. The firm had revenue of $677.30 million during the quarter, compared to the consensus estimate of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.37 EPS. As a group, equities analysts predict that Watts Water Technologies will post 11.9 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 1st. Watts Water Technologies’s dividend payout ratio is presently 23.06%.

About Watts Water Technologies

(Get Free Report)

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.

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Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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