Watts Water Technologies (NYSE:WTS) Coverage Initiated by Analysts at Northcoast Research – MarketBeat

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Research analysts at Northcoast Research assumed coverage on shares of Watts Water Technologies (NYSE:WTS – Get Rating) in a research note issued to investors on Friday, Briefing.com reports. The firm set a “neutral” rating on the technology company’s stock.
Other research analysts also recently issued reports about the stock. Stifel Nicolaus lowered their price target on shares of Watts Water Technologies from $148.00 to $141.00 in a report on Thursday, May 5th. StockNews.com assumed coverage on shares of Watts Water Technologies in a report on Thursday, March 31st. They set a “buy” rating for the company. The Goldman Sachs Group decreased their price objective on Watts Water Technologies from $165.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, April 13th. Boenning Scattergood restated a “neutral” rating on shares of Watts Water Technologies in a report on Wednesday, May 4th. Finally, Cowen decreased their price objective on Watts Water Technologies from $130.00 to $120.00 in a report on Tuesday, June 28th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $132.00.

Watts Water Technologies Price Performance

Shares of NYSE:WTS traded up $3.28 during trading on Friday, hitting $125.10. 2,711 shares of the company were exchanged, compared to its average volume of 162,563. The business’s 50 day moving average is $126.61 and its 200-day moving average is $143.45. The company has a market capitalization of $4.18 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 2.49 and a beta of 0.97. The company has a quick ratio of 1.28, a current ratio of 2.27 and a debt-to-equity ratio of 0.17. Watts Water Technologies has a 1-year low of $116.31 and a 1-year high of $212.00.
Watts Water Technologies (NYSE:WTS – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.24. The company had revenue of $463.20 million during the quarter, compared to the consensus estimate of $442.80 million. Watts Water Technologies had a net margin of 9.60% and a return on equity of 17.41%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. Equities analysts forecast that Watts Water Technologies will post 6.15 earnings per share for the current year.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, insider Elie Melhem sold 3,800 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $129.54, for a total transaction of $492,252.00. Following the sale, the insider now owns 12,303 shares of the company’s stock, valued at $1,593,730.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Trading of Watts Water Technologies

A number of institutional investors have recently bought and sold shares of WTS. Ellevest Inc. boosted its position in shares of Watts Water Technologies by 114.7% during the 1st quarter. Ellevest Inc. now owns 380 shares of the technology company’s stock worth $53,000 after purchasing an additional 203 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Watts Water Technologies by 128.3% during the 4th quarter. SG Americas Securities LLC now owns 7,807 shares of the technology company’s stock worth $1,516,000 after purchasing an additional 4,388 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Watts Water Technologies by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 504,556 shares of the technology company’s stock worth $97,969,000 after purchasing an additional 16,504 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Watts Water Technologies by 0.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,938 shares of the technology company’s stock worth $10,279,000 after purchasing an additional 340 shares in the last quarter. Finally, Pictet Asset Management SA boosted its position in shares of Watts Water Technologies by 8.9% during the 4th quarter. Pictet Asset Management SA now owns 1,799 shares of the technology company’s stock worth $349,000 after purchasing an additional 147 shares in the last quarter. Institutional investors own 75.11% of the company’s stock.

About Watts Water Technologies

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

See Also

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