Shares of Watts Water Technologies Inc (NYSE:WTS) have earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $94.00.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut Watts Water Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Stifel Nicolaus boosted their target price on Watts Water Technologies from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer reissued a “hold” rating on shares of Watts Water Technologies in a report on Monday, February 11th. Finally, Janney Montgomery Scott raised Watts Water Technologies from a “neutral” rating to a “buy” rating in a report on Monday, May 6th.
Shares of WTS traded up $0.07 during mid-day trading on Monday, reaching $83.57. 3,064 shares of the company’s stock traded hands, compared to its average volume of 134,498. The stock has a market cap of $2.81 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 2.05 and a beta of 1.22. The company has a current ratio of 2.27, a quick ratio of 1.35 and a debt-to-equity ratio of 0.38. Watts Water Technologies has a 12 month low of $61.17 and a 12 month high of $93.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.21. Watts Water Technologies’s payout ratio is presently 22.46%.
In other news, General Counsel Kenneth Robert Lepage sold 9,673 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $81.58, for a total transaction of $789,123.34. Following the transaction, the general counsel now owns 35,365 shares in the company, valued at approximately $2,885,076.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Timothy P. Horne sold 976 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $81.00, for a total transaction of $79,056.00. Following the completion of the sale, the insider now directly owns 49,024 shares in the company, valued at approximately $3,970,944. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,996 shares of company stock valued at $4,830,215. Company insiders own 0.75% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Thrivent Financial for Lutherans lifted its holdings in Watts Water Technologies by 35.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 26,295 shares of the technology company’s stock valued at $1,697,000 after buying an additional 6,826 shares during the period. NJ State Employees Deferred Compensation Plan grew its position in Watts Water Technologies by 20.0% in the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 6,000 shares of the technology company’s stock valued at $387,000 after purchasing an additional 1,000 shares in the last quarter. Vanguard Group Inc. grew its position in Watts Water Technologies by 1.7% in the third quarter. Vanguard Group Inc. now owns 2,767,832 shares of the technology company’s stock valued at $229,730,000 after purchasing an additional 45,313 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in Watts Water Technologies in the fourth quarter valued at $681,000. Finally, Xact Kapitalforvaltning AB lifted its stake in Watts Water Technologies by 18.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 8,444 shares of the technology company’s stock valued at $545,000 after acquiring an additional 1,300 shares during the last quarter. 77.47% of the stock is currently owned by hedge funds and other institutional investors.
About Watts Water Technologies
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. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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