Watts Water Technologies (NYSE:WTS) Reaches New 1-Year High – Here’s Why

Watts Water Technologies, Inc. (NYSE:WTS)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $248.17 and last traded at $243.21, with a volume of 318648 shares. The stock had previously closed at $245.88.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WTS shares. The Goldman Sachs Group raised their price target on Watts Water Technologies from $197.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Stifel Nicolaus upgraded Watts Water Technologies from a “hold” rating to a “buy” rating and raised their price target for the company from $219.00 to $229.00 in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $222.00.

Watts Water Technologies Trading Down 1.1%

The stock has a market cap of $8.10 billion, a PE ratio of 27.99, a PEG ratio of 3.42 and a beta of 1.08. The business has a 50-day moving average of $206.75 and a 200 day moving average of $208.35. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, May 7th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.25. The firm had revenue of $558.00 million during the quarter, compared to analysts’ expectations of $547.58 million. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. Equities research analysts predict that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.86%. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, May 30th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 23.83%.

Insiders Place Their Bets

In other news, insider Elie Melhem sold 4,397 shares of Watts Water Technologies stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total value of $925,700.41. Following the transaction, the insider now directly owns 10,469 shares of the company’s stock, valued at $2,204,038.57. The trade was a 29.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Shashank Patel sold 8,000 shares of Watts Water Technologies stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $245.00, for a total value of $1,960,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,754 shares in the company, valued at $674,730. This represents a 74.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Watts Water Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System lifted its position in Watts Water Technologies by 0.7% during the 4th quarter. Arizona State Retirement System now owns 7,950 shares of the technology company’s stock worth $1,616,000 after acquiring an additional 56 shares in the last quarter. Andina Capital Management LLC lifted its position in Watts Water Technologies by 3.5% during the 4th quarter. Andina Capital Management LLC now owns 1,708 shares of the technology company’s stock worth $347,000 after acquiring an additional 58 shares in the last quarter. UMB Bank n.a. lifted its position in Watts Water Technologies by 59.8% during the 4th quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock worth $32,000 after acquiring an additional 58 shares in the last quarter. Cerity Partners LLC lifted its position in Watts Water Technologies by 0.5% during the 4th quarter. Cerity Partners LLC now owns 12,410 shares of the technology company’s stock worth $2,541,000 after acquiring an additional 58 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Watts Water Technologies by 3.8% during the 4th quarter. Empowered Funds LLC now owns 1,652 shares of the technology company’s stock worth $336,000 after acquiring an additional 60 shares in the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

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.