Watts Water Technologies (NYSE:WTS) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Watts Water Technologies (NYSE:WTS) from a buy rating to a hold rating in a research report report published on Thursday.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus lifted their price target on shares of Watts Water Technologies from $209.00 to $217.00 and gave the company a hold rating in a report on Thursday, July 18th. Robert W. Baird boosted their target price on Watts Water Technologies from $212.00 to $225.00 and gave the stock a neutral rating in a report on Friday, May 10th.

Watts Water Technologies Stock Down 1.5 %

NYSE WTS opened at $182.51 on Thursday. Watts Water Technologies has a 1-year low of $167.87 and a 1-year high of $219.52. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 2.82 and a beta of 0.90. The stock’s 50 day moving average is $190.24 and its two-hundred day moving average is $199.88. The company has a current ratio of 2.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.18.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.33 by $0.13. Watts Water Technologies had a return on equity of 19.61% and a net margin of 12.53%. The business had revenue of $597.30 million for the quarter, compared to analyst estimates of $589.55 million. During the same quarter in the previous year, the firm earned $2.34 EPS. Watts Water Technologies’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that Watts Water Technologies will post 8.7 earnings per share for the current fiscal year.

Watts Water Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.43 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a yield of 0.94%. Watts Water Technologies’s payout ratio is 21.34%.

Insider Transactions at Watts Water Technologies

In related news, major shareholder Timothy P. Horne sold 2,194 shares of Watts Water Technologies stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $214.39, for a total value of $470,371.66. Following the completion of the sale, the insider now directly owns 2,806 shares in the company, valued at $601,578.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Elie Melhem sold 2,051 shares of Watts Water Technologies stock in a transaction on Monday, May 20th. The shares were sold at an average price of $215.51, for a total transaction of $442,011.01. Following the transaction, the insider now directly owns 13,226 shares of the company’s stock, valued at $2,850,335.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Timothy P. Horne sold 2,194 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $214.39, for a total transaction of $470,371.66. Following the completion of the transaction, the insider now directly owns 2,806 shares of the company’s stock, valued at approximately $601,578.34. The disclosure for this sale can be found here. Insiders sold a total of 5,753 shares of company stock worth $1,236,753 over the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in shares of Watts Water Technologies during the first quarter worth about $26,000. Gradient Investments LLC acquired a new stake in Watts Water Technologies during the 2nd quarter worth approximately $31,000. Allworth Financial LP lifted its stake in Watts Water Technologies by 47.5% in the fourth quarter. Allworth Financial LP now owns 174 shares of the technology company’s stock valued at $36,000 after buying an additional 56 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Watts Water Technologies by 502.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the technology company’s stock valued at $47,000 after buying an additional 186 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Watts Water Technologies by 520.5% during the second quarter. Blue Trust Inc. now owns 273 shares of the technology company’s stock worth $50,000 after acquiring an additional 229 shares during the period. 95.02% of the stock is currently 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.