Watts Water Technologies, Inc. (NYSE:WTS – Get Free Report)’s share price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $356.88 and traded as high as $364.04. Watts Water Technologies shares last traded at $359.4210, with a volume of 384,715 shares.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on WTS shares. Wall Street Zen lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. Robert W. Baird set a $405.00 target price on Watts Water Technologies in a report on Friday, August 7th. The Goldman Sachs Group restated a “neutral” rating and set a $374.00 target price on shares of Watts Water Technologies in a research report on Friday, August 7th. Barclays upped their price target on Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, KeyCorp increased their price target on shares of Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $371.90.
Check Out Our Latest Report on WTS
Watts Water Technologies Stock Up 1.2%
The company has a market cap of $12.00 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 3.45 and a beta of 1.13. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average price is $356.88 and its 200-day moving average price is $331.73.
Watts Water Technologies (NYSE:WTS – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.32. Watts Water Technologies had a return on equity of 19.16% and a net margin of 14.34%. The company had revenue of $763.20 million during the quarter, compared to the consensus estimate of $725.99 million. During the same period in the prior year, the company earned $3.09 earnings per share. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. Sell-side analysts predict that Watts Water Technologies, Inc. will post 12.87 earnings per share for the current year.
Watts Water Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio is 22.01%.
Insider Activity
In other Watts Water Technologies news, Director Joseph T. Noonan sold 3,650 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Elie Melhem sold 1,096 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the completion of the sale, the insider owned 7,867 shares in the company, valued at $2,828,579.85. This represents a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Tidal Investments LLC boosted its stake in Watts Water Technologies by 18.7% in the 2nd quarter. Tidal Investments LLC now owns 30,668 shares of the technology company’s stock valued at $12,005,000 after purchasing an additional 4,832 shares during the period. Candriam S.C.A. grew its holdings in Watts Water Technologies by 26.6% in the 1st quarter. Candriam S.C.A. now owns 34,579 shares of the technology company’s stock valued at $10,038,000 after buying an additional 7,256 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Watts Water Technologies in the 3rd quarter valued at $1,576,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Watts Water Technologies during the 2nd quarter worth $3,496,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of Watts Water Technologies by 79.8% during the first quarter. Lazard Asset Management LLC now owns 218,832 shares of the technology company’s stock worth $63,525,000 after buying an additional 97,115 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.
The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.
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