Watts Water Technologies, Inc. (NYSE:WTS – Get Free Report)’s share price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $359.97 and traded as high as $368.34. Watts Water Technologies shares last traded at $367.1710, with a volume of 210,164 shares traded.
Analyst Ratings Changes
WTS has been the subject of a number of recent analyst reports. Robert W. Baird set a $405.00 target price on Watts Water Technologies in a report on Friday, August 7th. Stifel Nicolaus set a $445.00 price target on Watts Water Technologies in a research note on Monday, October 19th. TD Cowen raised their price objective on shares of Watts Water Technologies from $275.00 to $320.00 and gave the company a “hold” rating in a research note on Thursday, July 2nd. Barclays lifted their target price on Watts Water Technologies from $414.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Wall Street Zen cut shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $371.90.
View Our Latest Stock Analysis on WTS
Watts Water Technologies Stock Down 5.1%
The company has a market capitalization of $11.44 billion, a PE ratio of 29.94, a P/E/G ratio of 3.49 and a beta of 1.15. The business has a 50-day moving average of $358.48 and a 200 day moving average of $330.45. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.66 and a quick ratio of 1.60.
Watts Water Technologies (NYSE:WTS – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The business had revenue of $763.20 million during the quarter, compared to analysts’ expectations of $725.99 million. During the same period last year, the company posted $3.09 EPS. The business’s revenue was up 18.6% on a year-over-year basis. Equities research analysts predict that Watts Water Technologies, Inc. will post 12.87 earnings per share for the current year.
Watts Water Technologies Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Watts Water Technologies’s dividend payout ratio (DPR) is presently 22.01%.
Insider Buying and Selling at Watts Water Technologies
In other Watts Water Technologies news, Director Joseph T. Noonan sold 3,650 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 1,096 shares of the firm’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 transaction of $394,066.80. Following the completion of the sale, the insider owned 7,867 shares of the company’s stock, valued at approximately $2,828,579.85. This trade represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. North Dakota State Investment Board lifted its stake in Watts Water Technologies by 3.9% during the 3rd quarter. North Dakota State Investment Board now owns 834 shares of the technology company’s stock valued at $295,000 after acquiring an additional 31 shares during the period. Apollon Wealth Management LLC raised its holdings in shares of Watts Water Technologies by 1.5% during the first quarter. Apollon Wealth Management LLC now owns 2,702 shares of the technology company’s stock worth $784,000 after purchasing an additional 40 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in shares of Watts Water Technologies by 6.6% during the third quarter. Robertson Stephens Wealth Management LLC now owns 729 shares of the technology company’s stock worth $258,000 after purchasing an additional 45 shares during the last quarter. GAMMA Investing LLC lifted its position in Watts Water Technologies by 11.4% during the second quarter. GAMMA Investing LLC now owns 478 shares of the technology company’s stock valued at $187,000 after purchasing an additional 49 shares during the period. Finally, Cetera Investment Advisers lifted its position in Watts Water Technologies by 2.9% during the first quarter. Cetera Investment Advisers now owns 1,818 shares of the technology company’s stock valued at $528,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.
Watts Water Technologies Company Profile
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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