Watts Water Technologies (NYSE:WTS) Price Target Raised to $218.00

Watts Water Technologies (NYSE:WTS) had its price target hoisted by Stifel Nicolaus from $202.00 to $218.00 in a report released on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the technology company’s stock.

WTS has been the topic of several other research reports. StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Monday, November 4th.

Watts Water Technologies Trading Down 1.1 %

NYSE WTS opened at $217.94 on Wednesday. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.55 and a current ratio of 2.55. Watts Water Technologies has a one year low of $175.37 and a one year high of $222.70. The company’s 50 day moving average price is $208.16 and its 200 day moving average price is $198.13.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. The business had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.83 million. During the same quarter in the previous year, the business posted $2.04 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Watts Water Technologies will post 8.75 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.43 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 0.79%. Watts Water Technologies’s dividend payout ratio is presently 20.62%.

Insider Buying and Selling

In other Watts Water Technologies news, General Counsel Kenneth Robert Lepage sold 2,607 shares of Watts Water Technologies stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $212.72, for a total value of $554,561.04. Following the completion of the transaction, the general counsel now directly owns 11,457 shares in the company, valued at $2,437,133.04. The trade was a 18.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Shashank Patel sold 4,569 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $209.10, for a total value of $955,377.90. Following the transaction, the chief financial officer now directly owns 15,635 shares of the company’s stock, valued at $3,269,278.50. This trade represents a 22.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,974 shares of company stock worth $6,924,594. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HWG Holdings LP bought a new stake in Watts Water Technologies in the second quarter valued at $28,000. V Square Quantitative Management LLC acquired a new position in Watts Water Technologies during the 3rd quarter valued at about $30,000. Gradient Investments LLC bought a new position in Watts Water Technologies in the 2nd quarter worth about $31,000. Blue Trust Inc. increased its stake in shares of Watts Water Technologies by 520.5% in the second quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock valued at $50,000 after purchasing an additional 229 shares during the period. Finally, Fifth Third Bancorp raised 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. 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.