Watts Water Technologies, Inc. (NYSE:WTS) had its target price lifted by Robert W. Baird from $71.00 to $76.00 in a report issued on Friday. The brokerage currently has a neutral rating on the technology company’s stock.
Several other research firms have also issued reports on WTS. Cowen and Company reissued a hold rating and issued a $58.00 price objective on shares of Watts Water Technologies in a research report on Thursday, September 28th. BidaskClub lowered shares of Watts Water Technologies from a hold rating to a sell rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Watts Water Technologies from a buy rating to a hold rating in a research report on Thursday, October 5th. Boenning Scattergood reissued a buy rating on shares of Watts Water Technologies in a research report on Thursday. Finally, Stifel Nicolaus initiated coverage on shares of Watts Water Technologies in a research report on Monday, September 18th. They issued a buy rating and a $72.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Watts Water Technologies presently has an average rating of Hold and an average target price of $72.83.
Shares of Watts Water Technologies (NYSE WTS) opened at $69.55 on Friday. The stock has a market capitalization of $2,377.77, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 2.57.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The company had revenue of $347.70 million during the quarter, compared to analyst estimates of $361.22 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. research analysts anticipate that Watts Water Technologies will post 3.01 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, November 30th. Watts Water Technologies’s payout ratio is 28.15%.
In related news, insider Elie Melhem sold 3,306 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of the sale, the insider now directly owns 32,128 shares of the company’s stock, valued at approximately $1,995,470.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its holdings in Watts Water Technologies by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after purchasing an additional 17 shares in the last quarter. Suntrust Banks Inc. grew its holdings in Watts Water Technologies by 1.0% during the 2nd quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock valued at $207,000 after purchasing an additional 31 shares in the last quarter. Manchester Capital Management LLC grew its holdings in Watts Water Technologies by 0.5% during the 2nd quarter. Manchester Capital Management LLC now owns 11,040 shares of the technology company’s stock valued at $698,000 after purchasing an additional 50 shares in the last quarter. South State Corp grew its holdings in Watts Water Technologies by 1.5% during the 2nd quarter. South State Corp now owns 3,347 shares of the technology company’s stock valued at $212,000 after purchasing an additional 50 shares in the last quarter. Finally, Eqis Capital Management Inc. grew its holdings in Watts Water Technologies by 1.1% during the 2nd quarter. Eqis Capital Management Inc. now owns 5,932 shares of the technology company’s stock valued at $375,000 after purchasing an additional 64 shares in the last quarter. 78.13% of the stock is owned by institutional investors and hedge funds.
About Watts Water Technologies
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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