Watts Water Technologies (NYSE:WTS) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Watts Water Technologies (NYSE:WTS) from a buy rating to a hold rating in a research note published on Thursday morning.

Several other equities analysts have also commented on WTS. Stifel Nicolaus raised their price target on Watts Water Technologies from $209.00 to $217.00 and gave the company a hold rating in a research note on Thursday, July 18th. Robert W. Baird raised their target price on Watts Water Technologies from $212.00 to $225.00 and gave the stock a neutral rating in a research report on Friday, May 10th.

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $182.51 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.48 and a quick ratio of 1.44. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 2.82 and a beta of 0.90. The stock’s 50-day moving average is $190.24 and its two-hundred day moving average is $199.88. Watts Water Technologies has a 1-year low of $167.87 and a 1-year high of $219.52.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.13. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. The firm had revenue of $597.30 million for the quarter, compared to analysts’ expectations of $589.55 million. During the same quarter last year, the company earned $2.34 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Analysts forecast that Watts Water Technologies will post 8.7 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, August 30th. Watts Water Technologies’s payout ratio is 21.34%.

Insider Activity

In other news, major shareholder Timothy P. Horne sold 2,194 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $214.39, for a total transaction of $470,371.66. Following the transaction, the insider now directly owns 2,806 shares in the company, valued at $601,578.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Timothy P. Horne sold 2,194 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $214.39, for a total value of $470,371.66. Following the transaction, the insider now owns 2,806 shares in the company, valued at approximately $601,578.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Shashank Patel sold 1,508 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total value of $324,370.80. Following the sale, the chief financial officer now directly owns 20,204 shares of the company’s stock, valued at $4,345,880.40. The disclosure for this sale can be found here. In the last three months, insiders sold 5,753 shares of company stock valued at $1,236,753. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Large investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in Watts Water Technologies by 50.3% during the fourth quarter. Fifth Third Bancorp now owns 281 shares of the technology company’s stock worth $59,000 after purchasing an additional 94 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Watts Water Technologies by 47.5% in the 4th quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock valued at $36,000 after buying an additional 56 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Watts Water Technologies by 59.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 28,939 shares of the technology company’s stock valued at $5,978,000 after buying an additional 10,741 shares in the last quarter. Cerity Partners LLC acquired a new position in Watts Water Technologies during the fourth quarter worth $494,000. Finally, Birch Hill Investment Advisors LLC raised its position in Watts Water Technologies by 15.1% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 89,435 shares of the technology company’s stock worth $18,633,000 after acquiring an additional 11,715 shares in the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.