Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded Watts Water Technologies from a buy rating to a hold rating in a research report on Thursday, October 5th. Robert W. Baird reissued a hold rating and set a $71.00 price target on shares of Watts Water Technologies in a research report on Wednesday, October 4th. Cowen and Company reissued a hold rating and set a $58.00 price target on shares of Watts Water Technologies in a research report on Thursday, September 28th. Stifel Nicolaus began coverage on Watts Water Technologies in a research report on Monday, September 18th. They set a buy rating and a $72.00 price target for the company. Finally, Northcoast Research raised Watts Water Technologies from a neutral rating to a buy rating and set a $79.00 price objective for the company in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Watts Water Technologies has a consensus rating of Hold and an average target price of $72.83.
Watts Water Technologies (NYSE WTS) traded down $0.85 during trading on Thursday, reaching $69.55. The company’s stock had a trading volume of 162,508 shares, compared to its average volume of 111,208. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.59. The company has a market cap of $2,377.78, a PE ratio of 23.82, a P/E/G ratio of 1.95 and a beta of 1.12.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $347.70 million during the quarter, compared to the consensus estimate of $361.22 million. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. Watts Water Technologies’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. equities research analysts forecast that Watts Water Technologies will post 3.01 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, November 30th. Watts Water Technologies’s dividend payout ratio is currently 28.15%.
In other news, insider Elie Melhem sold 3,306 shares of Watts Water Technologies stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total value of $205,335.66. Following the completion of the sale, the insider now owns 32,128 shares of the company’s stock, valued at $1,995,470.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after acquiring an additional 3,541,642 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Watts Water Technologies by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock valued at $161,541,000 after acquiring an additional 205,883 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Watts Water Technologies by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 953,898 shares of the technology company’s stock valued at $60,286,000 after acquiring an additional 30,001 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Watts Water Technologies by 29.0% in the third quarter. Victory Capital Management Inc. now owns 771,208 shares of the technology company’s stock valued at $53,367,000 after acquiring an additional 173,225 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Watts Water Technologies by 9.8% in the second quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock valued at $47,987,000 after acquiring an additional 67,767 shares during the last quarter. Hedge funds and other institutional investors own 77.62% of the company’s stock.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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