Brokerages Set Watts Water Technologies, Inc. (NYSE:WTS) Price Target at $367.70

Shares of Watts Water Technologies, Inc. (NYSE:WTS) have been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $367.70.

A number of analysts have weighed in on WTS shares. The Goldman Sachs Group restated a “neutral” rating and set a $374.00 target price on shares of Watts Water Technologies in a report on Friday, August 7th. Weiss Ratings raised Watts Water Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, September 1st. Royal Bank Of Canada upped their price objective on Watts Water Technologies from $350.00 to $417.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Barclays raised their price objective on Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Robert W. Baird set a $405.00 target price on Watts Water Technologies in a research note on Friday, August 7th.

Watts Water Technologies Trading Down 1.6%

NYSE:WTS opened at $350.54 on Friday. The firm has a 50-day simple moving average of $361.03 and a 200-day simple moving average of $329.37. Watts Water Technologies has a one year low of $260.00 and a one year high of $394.54. The firm has a market cap of $11.70 billion, a P/E ratio of 30.62, a P/E/G ratio of 3.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.34 by $0.32. The firm had revenue of $763.10 million for the quarter, compared to the consensus estimate of $725.99 million. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The company’s quarterly revenue was up 18.6% on a year-over-year basis. During the same period last year, the firm earned $3.09 earnings per share. Equities analysts anticipate that Watts Water Technologies will post 12.75 EPS for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Watts Water Technologies’s payout ratio is currently 22.01%.

Insider Buying and Selling at Watts Water Technologies

In related news, Director Joseph T. Noonan sold 3,650 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Elie Melhem sold 1,096 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the transaction, the insider directly owned 7,867 shares in the company, valued at $2,828,579.85. This represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

Several institutional investors have recently added to or reduced their stakes in WTS. Wexford Capital LP acquired a new position in shares of Watts Water Technologies during the third quarter valued at about $26,000. Acumen Wealth Advisors LLC acquired a new stake in Watts Water Technologies in the 4th quarter worth approximately $28,000. Clearstead Advisors LLC boosted its stake in Watts Water Technologies by 69.4% in the 4th quarter. Clearstead Advisors LLC now owns 105 shares of the technology company’s stock worth $29,000 after purchasing an additional 43 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Watts Water Technologies during the 3rd quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Watts Water Technologies during the fourth quarter valued at $29,000. Institutional investors and hedge funds own 95.02% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc is a manufacturer of products and systems designed to manage the safety, efficiency, and quality of water within residential, commercial, and industrial plumbing and heating applications. Its offerings help regulate water pressure and temperature, prevent backflow and contamination, control flow, and improve water quality.

The company’s products include valves, backflow prevention devices, regulators, drainage and plumbing components, water filtration and treatment systems, electric and hydronic heating equipment, and related controls.