Watts Water Technologies (NYSE:WTS) Hits New 52-Week High at $101.48

Watts Water Technologies Inc (NYSE:WTS) shares hit a new 52-week high on Thursday . The company traded as high as $101.48 and last traded at $101.43, with a volume of 1489 shares trading hands. The stock had previously closed at $99.79.

Separately, Zacks Investment Research lowered shares of Watts Water Technologies from a “hold” rating to a “sell” rating and set a $105.00 target price for the company. in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $101.75.

The firm has a market capitalization of $3.38 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 2.90 and a beta of 1.17. The company has a current ratio of 1.80, a quick ratio of 1.10 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $98.77 and its two-hundred day simple moving average is $94.38.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. Watts Water Technologies had a net margin of 8.11% and a return on equity of 14.70%. The firm had revenue of $394.70 million during the quarter, compared to the consensus estimate of $397.44 million. During the same quarter in the previous year, the firm posted $0.99 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Watts Water Technologies Inc will post 4.05 earnings per share for the current year.

In other news, insider Elie Melhem sold 2,139 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $95.82, for a total transaction of $204,958.98. Insiders own 0.75% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Watts Water Technologies by 6.4% during the 2nd quarter. BlackRock Inc. now owns 4,721,235 shares of the technology company’s stock valued at $439,926,000 after acquiring an additional 283,685 shares during the period. Victory Capital Management Inc. boosted its holdings in Watts Water Technologies by 14.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,186,349 shares of the technology company’s stock worth $110,544,000 after buying an additional 151,683 shares during the period. Invesco Ltd. boosted its holdings in Watts Water Technologies by 1.2% in the 2nd quarter. Invesco Ltd. now owns 499,008 shares of the technology company’s stock worth $46,497,000 after buying an additional 5,708 shares during the period. Morgan Stanley boosted its holdings in Watts Water Technologies by 598.2% in the 2nd quarter. Morgan Stanley now owns 258,022 shares of the technology company’s stock worth $24,042,000 after buying an additional 221,066 shares during the period. Finally, Nuveen Asset Management LLC bought a new position in Watts Water Technologies in the 2nd quarter worth $21,810,000. 73.64% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Company Profile (NYSE:WTS)

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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