Watts Water Technologies, Inc. (NYSE:WTS – Get Free Report)’s share price gapped up prior to trading on Friday . The stock had previously closed at $176.62, but opened at $181.12. Watts Water Technologies shares last traded at $180.21, with a volume of 34,898 shares changing hands.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of Watts Water Technologies from $171.00 to $189.00 and gave the company a “neutral” rating in a research note on Friday, August 4th. TD Cowen raised their price objective on shares of Watts Water Technologies from $160.00 to $165.00 and gave the company a “market perform” rating in a research note on Monday, September 11th. StockNews.com raised shares of Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. Finally, Stifel Nicolaus raised their price objective on shares of Watts Water Technologies from $177.00 to $182.00 and gave the company a “hold” rating in a research note on Wednesday, July 19th. Five investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $178.20.
Get Our Latest Analysis on WTS
Watts Water Technologies Price Performance
Watts Water Technologies (NYSE:WTS – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.29. The company had revenue of $532.80 million for the quarter, compared to analyst estimates of $529.93 million. Watts Water Technologies had a net margin of 13.43% and a return on equity of 19.48%. As a group, analysts predict that Watts Water Technologies, Inc. will post 7.78 earnings per share for the current year.
Watts Water Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Thursday, August 31st. Watts Water Technologies’s dividend payout ratio is 18.02%.
Insiders Place Their Bets
In other Watts Water Technologies news, CFO Shashank Patel sold 2,336 shares of Watts Water Technologies stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $190.14, for a total value of $444,167.04. Following the sale, the chief financial officer now owns 18,846 shares of the company’s stock, valued at $3,583,378.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Shashank Patel sold 2,336 shares of Watts Water Technologies stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $190.14, for a total value of $444,167.04. Following the completion of the transaction, the chief financial officer now owns 18,846 shares in the company, valued at $3,583,378.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kenneth Robert Lepage sold 9,403 shares of Watts Water Technologies stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $188.36, for a total transaction of $1,771,149.08. Following the completion of the transaction, the general counsel now owns 17,404 shares of the company’s stock, valued at approximately $3,278,217.44. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On Watts Water Technologies
Large investors have recently modified their holdings of the business. Barclays PLC grew its stake in Watts Water Technologies by 9.5% during the first quarter. Barclays PLC now owns 25,267 shares of the technology company’s stock valued at $4,253,000 after acquiring an additional 2,184 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Watts Water Technologies by 2.9% during the first quarter. Russell Investments Group Ltd. now owns 17,618 shares of the technology company’s stock valued at $2,965,000 after acquiring an additional 503 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Watts Water Technologies by 1.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,336 shares of the technology company’s stock valued at $1,950,000 after acquiring an additional 160 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Watts Water Technologies during the first quarter valued at approximately $46,000. Finally, CWM LLC grew its stake in Watts Water Technologies by 458.3% during the first quarter. CWM LLC now owns 268 shares of the technology company’s stock valued at $45,000 after acquiring an additional 220 shares in the last quarter. Hedge funds and other institutional investors own 75.06% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc 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. The company offers residential and commercial flow control and protection products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, thermostatic mixing valves, and leak detection and protection products for plumbing and hot water applications.
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