Watts Water Technologies (NYSE:WTS) Given New $217.00 Price Target at The Goldman Sachs Group

Watts Water Technologies (NYSE:WTS) had its target price raised by The Goldman Sachs Group from $197.00 to $217.00 in a report released on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the technology company’s stock.

Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Watts Water Technologies from $218.00 to $219.00 and gave the stock a “hold” rating in a report on Wednesday. Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price target on the stock in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Watts Water Technologies in a report on Tuesday, December 17th. They set a “hold” rating and a $240.00 price target on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $220.00.

Watts Water Technologies Stock Down 1.7 %

Shares of NYSE WTS opened at $220.91 on Wednesday. Watts Water Technologies has a 1 year low of $175.37 and a 1 year high of $232.60. The stock has a market capitalization of $7.36 billion, a P/E ratio of 26.49, a P/E/G ratio of 3.39 and a beta of 0.93. The company has a 50-day moving average price of $208.15 and a 200-day moving average price of $203.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. On average, equities research analysts forecast that Watts Water Technologies will post 8.73 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, February 28th. Watts Water Technologies’s dividend payout ratio is 20.62%.

Institutional Trading of Watts Water Technologies

Several hedge funds have recently added to or reduced their stakes in WTS. Charles Schwab Investment Management Inc. raised its position in shares of Watts Water Technologies by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 316,407 shares of the technology company’s stock valued at $65,556,000 after purchasing an additional 9,148 shares during the period. Van ECK Associates Corp raised its position in shares of Watts Water Technologies by 40.0% in the third quarter. Van ECK Associates Corp now owns 17,382 shares of the technology company’s stock valued at $3,484,000 after purchasing an additional 4,967 shares during the period. JPMorgan Chase & Co. raised its position in shares of Watts Water Technologies by 4.8% in the third quarter. JPMorgan Chase & Co. now owns 267,439 shares of the technology company’s stock valued at $55,411,000 after purchasing an additional 12,159 shares during the period. State Street Corp raised its position in shares of Watts Water Technologies by 0.9% in the third quarter. State Street Corp now owns 977,000 shares of the technology company’s stock valued at $202,425,000 after purchasing an additional 8,314 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Watts Water Technologies by 264.1% in the fourth quarter. SG Americas Securities LLC now owns 6,080 shares of the technology company’s stock valued at $1,236,000 after purchasing an additional 4,410 shares during the period. Institutional investors own 95.02% of the company’s stock.

About Watts Water Technologies

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.