Watts Water Technologies (NYSE:WTS) Sets New 1-Year High – Should You Buy?

Watts Water Technologies, Inc. (NYSE:WTS) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $375.89 and last traded at $357.4580, with a volume of 3897700 shares. The stock had previously closed at $359.26.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WTS shares. Royal Bank Of Canada lifted their price target on shares of Watts Water Technologies from $318.00 to $323.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Barclays dropped their price target on Watts Water Technologies from $323.00 to $317.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Robert W. Baird set a $330.00 price objective on Watts Water Technologies in a report on Friday, May 8th. Weiss Ratings cut Watts Water Technologies from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Stifel Nicolaus set a $379.00 target price on shares of Watts Water Technologies in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Watts Water Technologies has a consensus rating of “Hold” and a consensus price target of $329.44.

Watts Water Technologies Trading Up 0.7%

The stock has a market capitalization of $12.08 billion, a PE ratio of 33.11, a PEG ratio of 3.19 and a beta of 1.19. The company has a current ratio of 2.72, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The business’s 50-day moving average is $313.19 and its two-hundred day moving average is $304.14.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, May 6th. The technology company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.32. Watts Water Technologies had a return on equity of 18.92% and a net margin of 14.32%.The company had revenue of $677.30 million for the quarter, compared to analysts’ expectations of $638.13 million. During the same quarter in the previous year, the firm posted $2.37 earnings per share. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. On average, analysts predict that Watts Water Technologies, Inc. will post 11.9 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.52 annualized dividend and a yield of 0.7%. Watts Water Technologies’s payout ratio is 23.06%.

Insider Buying and Selling

In other Watts Water Technologies news, insider Elie Melhem sold 2,257 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $301.00, for a total value of $679,357.00. Following the completion of the transaction, the insider owned 8,963 shares in the company, valued at $2,697,863. This represents a 20.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Dubose sold 398 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $309.63, for a total transaction of $123,232.74. Following the completion of the sale, the director directly owned 1,814 shares of the company’s stock, valued at $561,668.82. This trade represents a 17.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Watts Water Technologies

A number of large investors have recently added to or reduced their stakes in WTS. Advyzon Investment Management LLC lifted its holdings in Watts Water Technologies by 3.8% in the 4th quarter. Advyzon Investment Management LLC now owns 843 shares of the technology company’s stock worth $233,000 after buying an additional 31 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Watts Water Technologies by 0.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,163 shares of the technology company’s stock valued at $1,149,000 after acquiring an additional 32 shares in the last quarter. C M Bidwell & Associates Ltd. grew its stake in shares of Watts Water Technologies by 5.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 648 shares of the technology company’s stock valued at $179,000 after acquiring an additional 34 shares in the last quarter. Centennial Wealth Advisory LLC increased its position in shares of Watts Water Technologies by 3.8% during the fourth quarter. Centennial Wealth Advisory LLC now owns 1,012 shares of the technology company’s stock worth $279,000 after acquiring an additional 37 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Watts Water Technologies by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,510 shares of the technology company’s stock worth $1,521,000 after acquiring an additional 38 shares during the last quarter. 95.02% of the stock is owned by institutional investors and hedge funds.

About Watts Water Technologies

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.