Barclays Issues Positive Forecast for Watts Water Technologies (NYSE:WTS) Stock Price

Watts Water Technologies (NYSE:WTS) had its target price lifted by Barclays from $287.00 to $300.00 in a research note published on Friday,Benzinga reports. Barclays currently has an equal weight rating on the technology company’s stock.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Watts Water Technologies in a report on Friday, August 8th. Wall Street Zen downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “buy” rating in a report on Sunday, October 26th. Weiss Ratings reissued a “buy (b+)” rating on shares of Watts Water Technologies in a research report on Tuesday, October 14th. Zacks Research downgraded shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Stifel Nicolaus raised their target price on shares of Watts Water Technologies from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Watts Water Technologies currently has an average rating of “Hold” and an average price target of $264.25.

Watts Water Technologies Stock Performance

Watts Water Technologies stock traded up $9.73 during mid-day trading on Friday, reaching $273.28. 251,615 shares of the company traded hands, compared to its average volume of 191,307. The firm’s fifty day moving average is $277.66 and its two-hundred day moving average is $257.85. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 3.27 and a beta of 1.17. Watts Water Technologies has a fifty-two week low of $177.59 and a fifty-two week high of $287.89. 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) last posted its quarterly earnings data on Wednesday, November 5th. The technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.29 by $0.21. Watts Water Technologies had a net margin of 13.63% and a return on equity of 18.11%. The business had revenue of $611.70 million during the quarter, compared to the consensus estimate of $576.20 million. During the same period in the previous year, the firm posted $2.03 earnings per share. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Watts Water Technologies has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Watts Water Technologies will post 9.08 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, December 1st. Watts Water Technologies’s payout ratio is presently 21.47%.

Insider Transactions at Watts Water Technologies

In other news, Director Joseph T. Noonan sold 713 shares of Watts Water Technologies stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $274.45, for a total value of $195,682.85. Following the sale, the director owned 1,194 shares in the company, valued at $327,693.30. This trade represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Watts Water Technologies

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Watts Water Technologies by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 78,159 shares of the technology company’s stock valued at $15,938,000 after acquiring an additional 795 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of Watts Water Technologies during the 1st quarter worth $259,000. GSA Capital Partners LLP acquired a new stake in shares of Watts Water Technologies during the first quarter valued at about $802,000. AEGON ASSET MANAGEMENT UK Plc increased its holdings in Watts Water Technologies by 18.5% in the 2nd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 77,892 shares of the technology company’s stock valued at $19,164,000 after purchasing an additional 12,148 shares during the last quarter. Finally, Alps Advisors Inc. raised its holdings in shares of Watts Water Technologies by 6.9% in the 1st quarter. Alps Advisors Inc. now owns 37,872 shares of the technology company’s stock valued at $7,723,000 after buying an additional 2,448 shares during the period. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

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.