StockNews.com Upgrades Watts Water Technologies (NYSE:WTS) to Buy

StockNews.com upgraded shares of Watts Water Technologies (NYSE:WTS) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other analysts also recently issued reports about the stock. Stifel Nicolaus reduced their target price on shares of Watts Water Technologies from $217.00 to $202.00 and set a hold rating on the stock in a research report on Friday, August 9th. Robert W. Baird dropped their price objective on shares of Watts Water Technologies from $225.00 to $199.00 and set a neutral rating on the stock in a research note on Friday, August 9th.

Watts Water Technologies Stock Performance

Shares of WTS opened at $186.90 on Friday. The company has a 50-day simple moving average of $189.52 and a two-hundred day simple moving average of $199.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.50 and a quick ratio of 1.49. The firm has a market capitalization of $6.24 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90. Watts Water Technologies has a one year low of $167.87 and a one year high of $219.52.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, August 7th. The technology company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.13. The company had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $589.55 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 EPS. On average, analysts anticipate that Watts Water Technologies will post 8.71 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.43 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.92%. Watts Water Technologies’s dividend payout ratio is currently 21.34%.

Insider Transactions at Watts Water Technologies

In related news, Director Michael J. Dubose sold 315 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $185.93, for a total value of $58,567.95. Following the transaction, the director now owns 2,755 shares in the company, valued at approximately $512,237.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Watts Water Technologies news, CFO Shashank Patel sold 1,508 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total transaction of $324,370.80. Following the sale, the chief financial officer now directly owns 20,204 shares in the company, valued at approximately $4,345,880.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 315 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the completion of the transaction, the director now owns 2,755 shares of the company’s stock, valued at approximately $512,237.15. The disclosure for this sale can be found here. Insiders sold a total of 4,017 shares of company stock valued at $853,310 in the last quarter. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Watts Water Technologies

Several institutional investors have recently modified their holdings of WTS. Congress Asset Management Co. MA bought a new position in Watts Water Technologies during the fourth quarter valued at approximately $125,904,000. Norges Bank bought a new position in shares of Watts Water Technologies during the 4th quarter valued at $61,513,000. Millennium Management LLC lifted its holdings in shares of Watts Water Technologies by 1,070.6% during the 2nd quarter. Millennium Management LLC now owns 209,000 shares of the technology company’s stock valued at $38,324,000 after buying an additional 191,146 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Watts Water Technologies by 171.7% in the 2nd quarter. Renaissance Technologies LLC now owns 139,100 shares of the technology company’s stock worth $25,507,000 after buying an additional 87,900 shares during the last quarter. Finally, Congress Wealth Management LLC DE bought a new stake in shares of Watts Water Technologies in the fourth quarter worth $13,284,000. 95.02% of the stock is owned by hedge funds and other 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.