Watts Water Technologies (NYSE:WTS) Shares Gap Down – Time to Sell?

Watts Water Technologies, Inc. (NYSE:WTS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $213.12, but opened at $204.86. Watts Water Technologies shares last traded at $212.36, with a volume of 17,331 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Watts Water Technologies in a research note on Tuesday, December 17th. They set a “hold” rating and a $240.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $218.00 to $219.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $220.00.

Watts Water Technologies Stock Performance

The firm’s fifty day simple moving average is $210.54 and its 200 day simple moving average is $207.16. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 3.42 and a beta of 0.93. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.59 and a quick ratio of 1.65.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Monday, February 10th. The technology company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.14. Watts Water Technologies had a net margin of 12.93% and a return on equity of 18.08%. On average, sell-side analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current year.

Watts Water Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.81%. Watts Water Technologies’s dividend payout ratio is 19.79%.

Insider Buying and Selling

In related news, insider Elie Melhem sold 4,397 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total transaction of $925,700.41. Following the transaction, the insider now directly owns 10,469 shares of the company’s stock, valued at approximately $2,204,038.57. The trade was a 29.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

A number of institutional investors have recently modified their holdings of WTS. UMB Bank n.a. raised its holdings in shares of Watts Water Technologies by 59.8% during the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock worth $32,000 after acquiring an additional 58 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Watts Water Technologies by 329.1% during the 4th quarter. Headlands Technologies LLC now owns 236 shares of the technology company’s stock worth $48,000 after purchasing an additional 181 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Watts Water Technologies by 60.5% during the 4th quarter. Huntington National Bank now owns 366 shares of the technology company’s stock valued at $74,000 after buying an additional 138 shares during the last quarter. Jones Financial Companies Lllp raised its position in Watts Water Technologies by 660.3% during the fourth quarter. Jones Financial Companies Lllp now owns 555 shares of the technology company’s stock valued at $113,000 after acquiring an additional 482 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Watts Water Technologies by 45.2% in the 4th quarter. Farther Finance Advisors LLC now owns 565 shares of the technology company’s stock valued at $115,000 after purchasing an additional 176 shares during the last quarter. Institutional investors and hedge funds own 95.02% of the company’s stock.

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.