Watts Water Technologies (NYSE:WTS) Rating Increased to Buy at Northcoast Research

Northcoast Research upgraded shares of Watts Water Technologies (NYSE:WTS) from a neutral rating to a buy rating in a research note released on Monday morning, MarketBeat reports. The firm currently has $225.00 target price on the technology company’s stock.

A number of other analysts have also commented on the stock. Stifel Nicolaus reduced 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 note on Friday, August 9th. StockNews.com raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Robert W. Baird lowered their price target on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $200.25.

Watts Water Technologies Stock Performance

WTS stock opened at $207.24 on Monday. The stock’s 50 day simple moving average is $200.61 and its 200 day simple moving average is $197.22. The company has a current ratio of 2.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.13. Watts Water Technologies has a 12-month low of $175.37 and a 12-month high of $219.52. The stock has a market capitalization of $6.91 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.81 and a beta of 0.90.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%. The firm had revenue of $543.60 million for the quarter, compared to the consensus estimate of $541.83 million. During the same period in the prior year, the company posted $2.04 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Watts Water Technologies will post 8.71 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, November 29th. Watts Water Technologies’s payout ratio is 20.62%.

Insider Buying and Selling at Watts Water Technologies

In other news, Director Michael J. Dubose sold 315 shares of Watts Water Technologies stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $185.93, for a total transaction of $58,567.95. Following the transaction, the director now owns 2,755 shares in the company, valued at $512,237.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, General Counsel Kenneth Robert Lepage sold 2,607 shares of Watts Water Technologies stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $212.72, for a total transaction of $554,561.04. Following the transaction, the general counsel now owns 11,457 shares in the company, valued at approximately $2,437,133.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Dubose sold 315 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $185.93, for a total transaction of $58,567.95. Following the completion of the transaction, the director now directly owns 2,755 shares of the company’s stock, valued at $512,237.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,620 shares of company stock valued at $1,928,526. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. HWG Holdings LP purchased a new stake in shares of Watts Water Technologies during the second quarter worth about $28,000. V Square Quantitative Management LLC purchased a new position in shares of Watts Water Technologies in the third quarter worth $30,000. Gradient Investments LLC bought a new position in shares of Watts Water Technologies during the second quarter worth $31,000. Blue Trust Inc. grew its stake in Watts Water Technologies by 520.5% during the second quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock valued at $50,000 after acquiring an additional 229 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Watts Water Technologies in the 1st quarter valued at $53,000. 95.02% of the stock is owned by institutional investors.

About Watts Water Technologies

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.