Watts Water Technologies, Inc. (NYSE:WTS – Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $375.89 and last traded at $357.4580, with a volume of 3897700 shares trading hands. The stock had previously closed at $359.26.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on WTS shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $358.00 price objective on shares of Watts Water Technologies in a report on Friday, May 8th. Barclays reduced their target price on Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Stifel Nicolaus set a $379.00 price target on shares of Watts Water Technologies in a research note on Friday, May 8th. Weiss Ratings cut shares of Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $330.00 price objective on shares of Watts Water Technologies in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Watts Water Technologies currently has a consensus rating of “Hold” and an average target price of $329.44.
Get Our Latest Stock Analysis on WTS
Watts Water Technologies Trading Up 0.7%
Watts Water Technologies (NYSE:WTS – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The technology company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.32. The business had revenue of $677.30 million for the quarter, compared to analyst estimates of $638.13 million. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The business’s revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.37 EPS. As a group, sell-side analysts forecast that Watts Water Technologies, Inc. will post 11.9 EPS for the current year.
Watts Water Technologies Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.63 dividend. The ex-dividend date was Monday, June 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies’s dividend payout ratio is 23.06%.
Insider Buying and Selling
In related news, insider Elie Melhem sold 2,257 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the sale, the insider directly owned 8,963 shares in the company, valued at $2,697,863. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Dubose sold 398 shares of Watts Water Technologies stock in a transaction dated Thursday, May 28th. The shares were 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.
Institutional Trading of Watts Water Technologies
Several institutional investors have recently modified their holdings of WTS. Wexford Capital LP acquired a new position in Watts Water Technologies during the third quarter worth about $26,000. Acumen Wealth Advisors LLC bought a new position in shares of Watts Water Technologies during the 4th quarter valued at about $28,000. Clearstead Advisors LLC boosted its position in shares of Watts Water Technologies by 69.4% during the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock valued at $29,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Watts Water Technologies in the 3rd quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Watts Water Technologies in the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 95.02% of the company’s stock.
Watts Water Technologies Company Profile
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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