Watts Water Technologies (NYSE:WTS) PT Raised to $217.00

Watts Water Technologies (NYSE:WTS) had its price target boosted by Stifel Nicolaus from $209.00 to $217.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

Separately, Robert W. Baird increased their price objective on shares of Watts Water Technologies from $212.00 to $225.00 and gave the stock a neutral rating in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $201.50.

Watts Water Technologies Stock Down 0.2 %

Shares of Watts Water Technologies stock opened at $196.36 on Thursday. Watts Water Technologies has a 52-week low of $167.87 and a 52-week high of $219.52. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.44 and a current ratio of 2.48. The business’s 50 day simple moving average is $193.70 and its 200 day simple moving average is $199.87. The firm has a market cap of $6.55 billion, a PE ratio of 24.36, a P/E/G ratio of 2.82 and a beta of 0.90.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Wednesday, May 8th. The technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.22. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. The company had revenue of $570.90 million for the quarter, compared to the consensus estimate of $547.20 million. During the same period last year, the company earned $1.92 earnings per share. The firm’s revenue was up 21.0% compared to the same quarter last year. On average, analysts predict that Watts Water Technologies will post 8.71 earnings per share for the current fiscal year.

Watts Water Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.43 dividend. The ex-dividend date was Friday, May 31st. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.36. This represents a $1.72 annualized dividend and a dividend yield of 0.88%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 21.34%.

Insiders Place Their Bets

In other news, major shareholder Timothy P. Horne sold 2,194 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $214.39, for a total value of $470,371.66. Following the completion of the transaction, the insider now owns 2,806 shares of the company’s stock, valued at approximately $601,578.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Elie Melhem sold 2,051 shares of Watts Water Technologies stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $215.51, for a total transaction of $442,011.01. Following the completion of the transaction, the insider now directly owns 13,226 shares in the company, valued at approximately $2,850,335.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Timothy P. Horne sold 2,194 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $214.39, for a total value of $470,371.66. Following the completion of the sale, the insider now owns 2,806 shares in the company, valued at approximately $601,578.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,753 shares of company stock valued at $1,236,753. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Watts Water Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTS. Vanguard Group Inc. lifted its stake in shares of Watts Water Technologies by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,188,071 shares of the technology company’s stock worth $550,962,000 after buying an additional 29,113 shares during the last quarter. Congress Asset Management Co. MA acquired a new stake in Watts Water Technologies during the fourth quarter worth approximately $125,904,000. Allianz Asset Management GmbH boosted its holdings in shares of Watts Water Technologies by 7.0% during the fourth quarter. Allianz Asset Management GmbH now owns 447,955 shares of the technology company’s stock worth $93,327,000 after acquiring an additional 29,468 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Watts Water Technologies by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 338,378 shares of the technology company’s stock valued at $71,924,000 after purchasing an additional 1,049 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Watts Water Technologies by 14.8% during the fourth quarter. KBC Group NV now owns 295,748 shares of the technology company’s stock worth $61,616,000 after purchasing an additional 38,110 shares during the period. 95.02% of the stock is owned by institutional investors.

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.