Watts Water Technologies Inc (WTS) Given Consensus Recommendation of “Hold” by Analysts

Shares of Watts Water Technologies Inc (NYSE:WTS) have received an average recommendation of “Hold” from the thirteen research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $81.40.

A number of research analysts have issued reports on the stock. Boenning Scattergood lowered shares of Watts Water Technologies from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 21st. Zacks Investment Research downgraded shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Monday, March 19th. ValuEngine raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, April 18th. Robert W. Baird upped their price objective on shares of Watts Water Technologies to $80.00 and gave the company a “neutral” rating in a report on Monday, May 7th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Thursday, May 3rd.

In other news, insider Elie Melhem sold 3,449 shares of the company’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $77.11, for a total value of $265,952.39. Following the sale, the insider now directly owns 27,519 shares of the company’s stock, valued at approximately $2,121,990.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.



A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Suntrust Banks Inc. purchased a new stake in Watts Water Technologies during the first quarter worth $609,000. Wesbanco Bank Inc. purchased a new stake in Watts Water Technologies during the first quarter worth $525,000. Xact Kapitalforvaltning AB boosted its holdings in Watts Water Technologies by 27.2% during the first quarter. Xact Kapitalforvaltning AB now owns 3,744 shares of the technology company’s stock worth $291,000 after buying an additional 800 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in Watts Water Technologies by 3.3% during the first quarter. Guggenheim Capital LLC now owns 89,720 shares of the technology company’s stock worth $6,971,000 after buying an additional 2,899 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Watts Water Technologies by 133.3% during the first quarter. Barclays PLC now owns 12,029 shares of the technology company’s stock worth $935,000 after buying an additional 6,873 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Watts Water Technologies stock opened at $79.30 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.47 and a debt-to-equity ratio of 0.50. Watts Water Technologies has a 12-month low of $59.15 and a 12-month high of $84.25. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 1.81 and a beta of 1.12.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Thursday, May 3rd. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.03. Watts Water Technologies had a net margin of 5.35% and a return on equity of 13.26%. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $365.01 million. During the same quarter in the prior year, the business posted $0.65 EPS. Watts Water Technologies’s revenue for the quarter was up 9.0% compared to the same quarter last year. research analysts forecast that Watts Water Technologies will post 3.69 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were issued a $0.21 dividend. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, May 31st. Watts Water Technologies’s dividend payout ratio is 27.81%.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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