Watts Water Technologies (NYSE:WTS) Sets New 1-Year High After Better-Than-Expected Earnings

Watts Water Technologies, Inc. (NYSE:WTS)’s stock price hit a new 52-week high during trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $227.89 and last traded at $226.75, with a volume of 30149 shares. The stock had previously closed at $208.75.

The technology company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%.

Watts Water Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, February 28th. Watts Water Technologies’s dividend payout ratio is presently 20.62%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a report on Monday, November 4th. Stifel Nicolaus lifted their price objective on Watts Water Technologies from $202.00 to $218.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Watts Water Technologies in a research note on Tuesday, December 17th. They set a “hold” rating and a $240.00 price target on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Watts Water Technologies presently has an average rating of “Hold” and a consensus target price of $220.50.

Institutional Investors Weigh In On Watts Water Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Andina Capital Management LLC grew its position in shares of Watts Water Technologies by 3.3% in the 3rd quarter. Andina Capital Management LLC now owns 1,650 shares of the technology company’s stock valued at $342,000 after buying an additional 52 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Watts Water Technologies by 0.7% during the fourth quarter. Arizona State Retirement System now owns 7,950 shares of the technology company’s stock worth $1,616,000 after purchasing an additional 56 shares during the last quarter. UMB Bank n.a. increased its position in shares of Watts Water Technologies by 59.8% during the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock worth $32,000 after purchasing an additional 58 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in shares of Watts Water Technologies by 2.5% in the 3rd quarter. Portside Wealth Group LLC now owns 2,496 shares of the technology company’s stock valued at $517,000 after purchasing an additional 60 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Watts Water Technologies by 3.8% in the 4th quarter. Empowered Funds LLC now owns 1,652 shares of the technology company’s stock valued at $336,000 after purchasing an additional 60 shares during the period. 95.02% of the stock is currently owned by institutional investors and hedge funds.

Watts Water Technologies Stock Up 8.4 %

The stock has a market cap of $7.54 billion, a PE ratio of 27.23, a P/E/G ratio of 3.39 and a beta of 0.93. The business has a 50 day moving average of $207.93 and a 200-day moving average of $203.16. The company has a current ratio of 2.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.13.

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.