Watts Water Technologies (NYSE:WTS) Sets New 12-Month High After Better-Than-Expected Earnings

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

The technology company reported $2.05 earnings per share (EPS) for the quarter, beating 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a yield of 0.77%. Watts Water Technologies’s dividend payout ratio is currently 20.62%.

Analysts Set New Price Targets

A number of research firms have recently commented on WTS. Deutsche Bank Aktiengesellschaft assumed 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. Northcoast Research raised 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, Stifel Nicolaus increased their price objective on Watts Water Technologies from $202.00 to $218.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Watts Water Technologies presently has a consensus rating of “Hold” and a consensus target price of $220.50.

Institutional Trading of Watts Water Technologies

Large investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in shares of Watts Water Technologies during the 3rd quarter valued at $30,000. UMB Bank n.a. boosted its stake in shares of Watts Water Technologies by 59.8% in the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock worth $32,000 after acquiring an additional 58 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Watts Water Technologies during the third quarter worth about $68,000. CWM LLC raised its stake in Watts Water Technologies by 24.4% during the 3rd quarter. CWM LLC now owns 392 shares of the technology company’s stock valued at $81,000 after purchasing an additional 77 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Watts Water Technologies by 99.3% in the 3rd quarter. Blue Trust Inc. now owns 544 shares of the technology company’s stock worth $113,000 after purchasing an additional 271 shares in the last quarter. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Stock Up 7.7 %

The company has a current ratio of 2.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $207.93 and a two-hundred day simple moving average of $203.16. The firm has a market capitalization of $7.49 billion, a P/E ratio of 26.95, a P/E/G ratio of 3.39 and a beta of 0.93.

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.