Watts Water Technologies (NYSE:WTS) Upgraded at 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.

A number of other equities analysts have also commented on the stock. Robert W. Baird reduced their target price on shares of Watts Water Technologies from $225.00 to $199.00 and set a neutral rating on the stock in a research report on Friday, August 9th. Stifel Nicolaus decreased their target price on Watts Water Technologies from $217.00 to $202.00 and set a hold rating for the company in a research report on Friday, August 9th.

Watts Water Technologies Price Performance

Shares of WTS stock opened at $185.67 on Friday. The stock has a 50 day moving average price of $189.51 and a 200 day moving average price of $199.25. Watts Water Technologies has a 52-week low of $167.87 and a 52-week high of $219.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.49 and a current ratio of 2.50. The firm has a market capitalization of $6.20 billion, a P/E ratio of 23.04, a P/E/G ratio of 2.61 and a beta of 0.90.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, August 7th. The technology company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.13. The business had revenue of $597.30 million during the quarter, compared to the consensus estimate of $589.55 million. Watts Water Technologies had a return on equity of 19.22% and a net margin of 12.44%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. As a group, sell-side analysts predict that Watts Water Technologies will post 8.71 earnings per share for the current year.

Watts Water Technologies Announces Dividend

The business 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. This represents a $1.72 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, August 30th. Watts Water Technologies’s payout ratio is 21.34%.

Insider Buying and Selling

In other Watts Water Technologies news, 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 transaction, the director now owns 2,755 shares in the company, valued at $512,237.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Timothy P. Horne sold 2,194 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $214.39, for a total transaction of $470,371.66. Following the completion of the sale, the insider now owns 2,806 shares in the company, valued at approximately $601,578.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael J. Dubose sold 315 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total value of $58,567.95. Following the transaction, the director now owns 2,755 shares in the company, valued at $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 three months. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Watts Water Technologies

Several institutional investors have recently added to or reduced their stakes in WTS. QRG Capital Management Inc. boosted its stake in Watts Water Technologies by 3.4% in the 4th quarter. QRG Capital Management Inc. now owns 2,013 shares of the technology company’s stock worth $419,000 after purchasing an additional 66 shares in the last quarter. Park Avenue Securities LLC raised its holdings in shares of Watts Water Technologies by 4.2% in the first quarter. Park Avenue Securities LLC now owns 1,645 shares of the technology company’s stock worth $350,000 after buying an additional 67 shares during the last quarter. Banco Santander S.A. lifted its stake in shares of Watts Water Technologies by 1.2% during the second quarter. Banco Santander S.A. now owns 6,424 shares of the technology company’s stock worth $1,178,000 after buying an additional 76 shares during the period. Fifth Third Bancorp grew its holdings in shares of Watts Water Technologies by 30.0% during the second quarter. Fifth Third Bancorp now owns 338 shares of the technology company’s stock valued at $62,000 after buying an additional 78 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Watts Water Technologies by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 34,277 shares of the technology company’s stock valued at $7,141,000 after acquiring an additional 87 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.