Watts Water Technologies (NYSE:WTS – Free Report) The price target was lowered by Stifel Nicolaus from $217.00 to $202.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage house currently assigns a hold rating to the technology company’s stock.
WTS has been the subject of a number of other research reports. StockNews.com downgraded Watts Water Technologies from a buy rating to a hold rating in a report on Thursday. Robert W. Baird cut his price target on Watts Water Technologies stock from $225.00 to $199.00 and set a neutral rating on the stock in a research report on Friday.
Read our latest analysis on Watts Water Technologies
Watts Water Technologies share price development
Shares of NYSE WTS opened at $182.51 on Friday. The company has a 50-day moving average of $190.24 and a 200-day moving average of $199.88. Watts Water Technologies has a one year low of $167.87 and a one year high of $219.52. The company has a market cap of $6.09 billion, a P/E ratio of 22.64, a PEG ratio of 2.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 2.50.
Watts Water Technologies (NYSE:WTS – Get Free Report) last released its quarterly earnings results on Wednesday, August 7. The technology company reported earnings per share (EPS) of $2.46 for the quarter, beating the consensus estimate of $2.33 by $0.13. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The company had revenue of $597.30 million for the quarter, compared to analyst expectations of $589.55 million. During the same period last year, the company had reported earnings per share of $2.34. Watts Water Technologies’ revenue grew 12.1% compared to the same quarter last year. As a group, research analysts forecast that Watts Water Technologies will report earnings per share of $8.73 for the current fiscal year.
Watts Water Technologies announces dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will receive a dividend of $0.43 per share. This represents an annualized dividend of $1.72 and a yield of 0.94%. The ex-dividend date is Friday, August 30th. Watts Water Technologies’ payout ratio is currently 21.34%.
Insider buying and selling at Watts Water Technologies
In other Watts Water Technologies news, insider Elie Melhem sold 2,051 shares of the company’s stock in a transaction that occurred on Monday, May 20. The shares were sold at an average price of $215.51, for a total value of $442,011.01. After the sale, the insider now owns 13,226 shares of the company’s stock, valued at $2,850,335.26. The sale was disclosed in a filing with the SEC, which is available through the SEC’s website. In other news, major shareholder Timothy P. Horne sold 2,194 shares of the company’s stock in a transaction that occurred on Wednesday, May 22. 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 $601,578.34. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, insider Elie Melhem sold 2,051 shares of the company’s stock in a transaction that occurred on Monday, May 20. The shares were sold at an average price of $215.51, for a total transaction of $442,011.01. Following the sale, the insider now directly owns 13,226 shares of the company’s stock, valued at $2,850,335.26. The disclosure regarding this sale can be found here. Insiders sold a total of 5,753 shares of the company’s stock, valued at $1,236,753, in the last three months. Insiders own 1.10% of the company’s stock.
Hedge funds comment on Watts Water Technologies
Several hedge funds and other institutional investors have recently added to or reduced their holdings in WTS. Perpetual Ltd increased its holdings in shares of Watts Water Technologies by 9.5% in the first quarter. Perpetual Ltd now owns 46,721 shares of the technology company’s stock worth $9,931,000 after buying an additional 4,068 shares during the same period. Seven Eight Capital LP acquired a new position in Watts Water Technologies in the 1st quarter valued at about $1,366,000. Norden Group LLC increased its holdings in shares of Watts Water Technologies by 1,826.3% in the 1st quarter. Norden Group LLC now owns 59,310 shares of the technology company’s stock worth $12,606,000 after buying an additional 56,231 shares during the last quarter. Congress Asset Management Co. MA acquired a new stake in Watts Water Technologies in the 4th quarter valued at $125,904,000. Finally, Banque Cantonale Vaudoise increased its position in Watts Water Technologies by 1,968.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 4,509 shares of the technology company’s stock valued at $958,000 after acquiring an additional 4,291 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.
Watts Water Technologies Company Profile
(Get free report)
Watts Water Technologies, Inc., together with its subsidiaries, provides products and solutions that control and maintain the flow of fluids and energy into, through and out of buildings in the commercial, industrial and residential markets in the Americas, Europe, Asia Pacific, the Middle East and Africa.
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