Watts Water Technologies (NYSE:WTS) Given New $165.00 Price Target at TD Cowen

Watts Water Technologies (NYSE:WTS) had its price objective boosted by TD Cowen from $160.00 to $165.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a market perform rating on the technology company’s stock.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Watts Water Technologies from $171.00 to $189.00 and gave the stock a neutral rating in a research note on Friday, August 4th. StockNews.com assumed coverage on Watts Water Technologies in a research note on Thursday, August 17th. They issued a buy rating on the stock. Finally, Stifel Nicolaus raised their price objective on Watts Water Technologies from $177.00 to $182.00 and gave the company a hold rating in a research report on Wednesday, July 19th. Five analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $178.20.

Watts Water Technologies Stock Up 2.7 %

WTS stock opened at $181.45 on Monday. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 3.13 and a beta of 1.03. Watts Water Technologies has a twelve month low of $120.78 and a twelve month high of $192.93. The business has a 50 day moving average price of $184.89 and a two-hundred day moving average price of $173.80. The company has a quick ratio of 1.49, a current ratio of 2.53 and a debt-to-equity ratio of 0.07.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, August 2nd. The technology company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.29. The business had revenue of $532.80 million during the quarter, compared to analysts’ expectations of $529.93 million. Watts Water Technologies had a net margin of 13.43% and a return on equity of 19.48%. Analysts anticipate that Watts Water Technologies will post 7.72 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.44 annualized dividend and a yield of 0.79%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 18.02%.

Insider Transactions at Watts Water Technologies

In other news, CFO Shashank Patel sold 2,336 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $190.14, for a total transaction of $444,167.04. Following the transaction, the chief financial officer now owns 18,846 shares in the company, valued at $3,583,378.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Watts Water Technologies news, General Counsel Kenneth Robert Lepage sold 9,403 shares of Watts Water Technologies stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $188.36, for a total value of $1,771,149.08. Following the completion of the sale, the general counsel now owns 17,404 shares in the company, valued at approximately $3,278,217.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shashank Patel sold 2,336 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $190.14, for a total transaction of $444,167.04. Following the transaction, the chief financial officer now owns 18,846 shares in the company, valued at approximately $3,583,378.44. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Watts Water Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich increased its stake in Watts Water Technologies by 98,060.7% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,963,213 shares of the technology company’s stock worth $360,701,000 after acquiring an additional 1,961,213 shares during the period. Norges Bank acquired a new position in Watts Water Technologies in the fourth quarter valued at about $38,180,000. Robeco Schweiz AG bought a new stake in Watts Water Technologies during the first quarter worth about $30,906,000. Renaissance Technologies LLC lifted its position in Watts Water Technologies by 188.9% during the first quarter. Renaissance Technologies LLC now owns 230,000 shares of the technology company’s stock worth $32,106,000 after purchasing an additional 150,400 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Watts Water Technologies by 161.4% during the first quarter. Goldman Sachs Group Inc. now owns 228,077 shares of the technology company’s stock worth $31,837,000 after buying an additional 140,834 shares in the last quarter. 75.06% of the stock is currently owned by institutional investors and hedge funds.

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.