Watts Water Technologies Inc (NYSE:WTS) Given Consensus Recommendation of “Hold” by Analysts

Watts Water Technologies Inc (NYSE:WTS) has earned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $97.57.

WTS has been the subject of a number of recent analyst reports. ValuEngine lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus boosted their target price on Watts Water Technologies from $102.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research lowered Watts Water Technologies from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Friday, May 31st. Finally, Janney Montgomery Scott lowered Watts Water Technologies from a “buy” rating to a “neutral” rating and set a $93.26 target price for the company. in a research report on Tuesday, July 2nd.

NYSE:WTS traded up $1.81 during mid-day trading on Friday, reaching $94.00. The company’s stock had a trading volume of 188,749 shares, compared to its average volume of 133,488. Watts Water Technologies has a 12-month low of $61.17 and a 12-month high of $94.93. The firm’s fifty day simple moving average is $91.63. The company has a current ratio of 2.27, a quick ratio of 1.35 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $3.15 billion, a PE ratio of 25.13, a P/E/G ratio of 2.87 and a beta of 1.21.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.01). Watts Water Technologies had a return on equity of 14.93% and a net margin of 8.08%. The business had revenue of $416.80 million during the quarter, compared to analysts’ expectations of $416.26 million. During the same period last year, the firm posted $1.05 EPS. Watts Water Technologies’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Watts Water Technologies will post 4.05 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.98%. Watts Water Technologies’s dividend payout ratio is currently 24.60%.

Several institutional investors have recently added to or reduced their stakes in WTS. Victory Capital Management Inc. grew its stake in shares of Watts Water Technologies by 6.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,034,666 shares of the technology company’s stock valued at $83,622,000 after acquiring an additional 64,797 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Watts Water Technologies by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,009,786 shares of the technology company’s stock valued at $65,162,000 after acquiring an additional 11,985 shares during the period. Norges Bank bought a new position in shares of Watts Water Technologies during the 4th quarter valued at approximately $30,091,000. Geode Capital Management LLC grew its stake in shares of Watts Water Technologies by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 293,010 shares of the technology company’s stock valued at $18,907,000 after acquiring an additional 20,834 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Watts Water Technologies by 4.3% during the 4th quarter. Principal Financial Group Inc. now owns 270,393 shares of the technology company’s stock valued at $17,449,000 after acquiring an additional 11,154 shares during the period. Institutional investors and hedge funds own 75.60% of the company’s stock.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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Analyst Recommendations for Watts Water Technologies (NYSE:WTS)

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