Watts Water Technologies (NYSE:WTS) Stock Rating Upgraded by Northcoast Research

Northcoast Research upgraded shares of Watts Water Technologies (NYSE:WTS) from a neutral rating to a buy rating in a research report released on Monday morning, Marketbeat Ratings reports. They currently have $225.00 price target on the technology company’s stock.

A number of other research firms also recently weighed in on WTS. Stifel Nicolaus decreased their price target on shares of Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Robert W. Baird decreased their price objective on shares of Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, StockNews.com upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Watts Water Technologies presently has an average rating of “Hold” and a consensus price target of $200.25.

Watts Water Technologies Price Performance

Watts Water Technologies stock opened at $212.08 on Monday. Watts Water Technologies has a 52-week low of $175.37 and a 52-week high of $219.52. The firm has a market capitalization of $7.07 billion, a P/E ratio of 25.43, a PEG ratio of 2.81 and a beta of 0.90. The company has a quick ratio of 1.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $200.61 and a 200-day moving average of $197.22.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) 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 company had revenue of $543.60 million during the quarter, compared to the consensus estimate of $541.83 million. During the same quarter last year, the company earned $2.04 earnings per share. Watts Water Technologies’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts predict that Watts Water Technologies will post 8.71 EPS for the current year.

Watts Water Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.43 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 0.81%. Watts Water Technologies’s payout ratio is currently 20.62%.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 1,710 shares of Watts Water Technologies stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the sale, the insider now owns 11,516 shares of the company’s stock, valued at $2,132,302.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Elie Melhem sold 1,710 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $185.16, for a total transaction of $316,623.60. Following the sale, the insider now owns 11,516 shares of the company’s stock, valued at $2,132,302.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kenneth Robert Lepage sold 3,429 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $194.65, for a total value of $667,454.85. Following the transaction, the general counsel now directly owns 14,064 shares of the company’s stock, valued at approximately $2,737,557.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,454 shares of company stock worth $1,042,646 in the last 90 days. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Watts Water Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Watts Water Technologies by 1.5% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,050,215 shares of the technology company’s stock worth $375,948,000 after buying an additional 29,473 shares during the period. Mirova US LLC boosted its holdings in shares of Watts Water Technologies by 2.2% during the 2nd quarter. Mirova US LLC now owns 715,674 shares of the technology company’s stock worth $131,233,000 after buying an additional 15,462 shares during the period. Dimensional Fund Advisors LP raised its holdings in Watts Water Technologies by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 587,538 shares of the technology company’s stock worth $107,738,000 after acquiring an additional 6,742 shares during the period. Boston Trust Walden Corp lifted its position in Watts Water Technologies by 60.3% during the 3rd quarter. Boston Trust Walden Corp now owns 520,189 shares of the technology company’s stock worth $107,778,000 after acquiring an additional 195,778 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Watts Water Technologies by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 338,378 shares of the technology company’s stock worth $71,924,000 after purchasing an additional 1,049 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.

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.