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

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

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

Watts Water Technologies Price Performance

Shares of NYSE WTS opened at $217.94 on Wednesday. Watts Water Technologies has a twelve month low of $175.37 and a twelve month high of $222.70. 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 firm has a 50-day moving average of $208.16 and a two-hundred day moving average of $198.13. The company 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.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. The firm had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.83 million. Watts Water Technologies had a net margin of 12.37% and a return on equity of 18.49%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $2.04 earnings per share. As a group, analysts expect that Watts Water Technologies will post 8.75 earnings per share for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 0.79%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 20.62%.

Insider Activity

In other news, General Counsel Kenneth Robert Lepage sold 3,429 shares of the company’s 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. This represents a 19.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert J. Pagano, Jr. sold 20,810 shares of Watts Water Technologies stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $212.20, for a total value of $4,415,882.00. Following the sale, the chief executive officer now directly owns 176,045 shares of the company’s stock, valued at approximately $37,356,749. The trade was a 10.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,974 shares of company stock worth $6,924,594 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Watts Water Technologies

Hedge funds have recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new stake in Watts Water Technologies in the second quarter valued at approximately $28,000. V Square Quantitative Management LLC acquired a new position in shares of Watts Water Technologies during the 3rd quarter worth $30,000. Gradient Investments LLC bought a new position in shares of Watts Water Technologies during the 2nd quarter valued at $31,000. Blue Trust Inc. lifted its stake in shares of Watts Water Technologies by 520.5% in the 2nd 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 last quarter. Finally, Fifth Third Bancorp boosted its holdings in Watts Water Technologies by 30.0% in the second quarter. Fifth Third Bancorp now owns 338 shares of the technology company’s stock worth $62,000 after purchasing an additional 78 shares in 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.