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

StockNews.com upgraded shares of Watts Water Technologies (NYSE:WTS) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus reduced their target price on Watts Water Technologies from $217.00 to $202.00 and set a hold rating for the company in a report on Friday, August 9th. Robert W. Baird reduced their price target on shares of Watts Water Technologies from $225.00 to $199.00 and set a neutral rating for the company in a research report on Friday, August 9th.

Watts Water Technologies Trading Up 0.1 %

NYSE:WTS opened at $185.67 on Friday. Watts Water Technologies has a 12-month low of $167.87 and a 12-month high of $219.52. The company has a current ratio of 2.50, a quick ratio of 1.49 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $189.51 and its 200-day simple moving average is $199.25. The firm has a market cap of $6.20 billion, a P/E ratio of 23.04, a PEG ratio of 2.61 and a beta of 0.90.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.13. The business had revenue of $597.30 million for the quarter, compared to analyst estimates of $589.55 million. Watts Water Technologies had a net margin of 12.44% and a return on equity of 19.22%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.34 earnings per share. Equities analysts anticipate that Watts Water Technologies will post 8.71 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 0.93%. Watts Water Technologies’s dividend payout ratio is presently 21.34%.

Insider Buying and Selling

In other Watts Water Technologies news, CFO Shashank Patel sold 1,508 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total transaction of $324,370.80. Following the completion of the transaction, the chief financial officer now owns 20,204 shares of the company’s stock, valued at $4,345,880.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Shashank Patel sold 1,508 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $215.10, for a total transaction of $324,370.80. Following the sale, the chief financial officer now owns 20,204 shares of the company’s stock, valued at $4,345,880.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the sale, the director now owns 2,755 shares of the company’s stock, valued at approximately $512,237.15. The disclosure for this sale can be found here. Insiders sold 4,017 shares of company stock worth $853,310 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Trading of Watts Water Technologies

A number of hedge funds have recently bought and sold shares of WTS. Perpetual Ltd lifted its stake in shares of Watts Water Technologies by 9.5% during the 1st quarter. Perpetual Ltd now owns 46,721 shares of the technology company’s stock worth $9,931,000 after purchasing an additional 4,068 shares during the period. Seven Eight Capital LP purchased a new position in Watts Water Technologies during the first quarter worth about $1,366,000. Norden Group LLC lifted its position in Watts Water Technologies by 1,826.3% during the first quarter. Norden Group LLC now owns 59,310 shares of the technology company’s stock worth $12,606,000 after buying an additional 56,231 shares during the period. Congress Asset Management Co. MA acquired a new stake in Watts Water Technologies in the 4th quarter worth about $125,904,000. Finally, Banque Cantonale Vaudoise grew its holdings in Watts Water Technologies by 1,968.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 4,509 shares of the technology company’s stock valued at $958,000 after buying an additional 4,291 shares during the period. Institutional investors and hedge funds 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.