Stifel Nicolaus Increases Watts Water Technologies (NYSE:WTS) Price Target to $209.00

Watts Water Technologies (NYSE:WTS) had its target price boosted by equities researchers at Stifel Nicolaus from $206.00 to $209.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the technology company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 4.69% from the company’s current price.

Separately, Robert W. Baird increased their price target on Watts Water Technologies from $191.00 to $208.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $191.20.

Watts Water Technologies Stock Performance

Shares of Watts Water Technologies stock opened at $199.63 on Wednesday. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94. The stock’s 50-day moving average is $204.09 and its 200-day moving average is $196.69. Watts Water Technologies has a one year low of $156.29 and a one year high of $219.52. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.61 and a quick ratio of 1.63.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Monday, February 12th. The technology company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.78 by $0.19. The company had revenue of $547.50 million for the quarter, compared to the consensus estimate of $532.58 million. Watts Water Technologies had a return on equity of 19.38% and a net margin of 12.75%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. Equities analysts predict that Watts Water Technologies will post 8.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Watts Water Technologies

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 1,520 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $202.11, for a total transaction of $307,207.20. Following the transaction, the chief accounting officer now owns 14,818 shares of the company’s stock, valued at approximately $2,994,865.98. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Virginia A. Halloran sold 1,520 shares of Watts Water Technologies stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $202.11, for a total value of $307,207.20. Following the sale, the chief accounting officer now owns 14,818 shares of the company’s stock, valued at approximately $2,994,865.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Timothy P. Horne sold 764 shares of Watts Water Technologies stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $199.00, for a total transaction of $152,036.00. Following the completion of the sale, the insider now directly owns 14,236 shares in the company, valued at approximately $2,832,964. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,113 shares of company stock worth $1,023,106. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new position in Watts Water Technologies in the fourth quarter worth $26,000. Rise Advisors LLC bought a new stake in Watts Water Technologies in the first quarter worth $26,000. Covestor Ltd lifted its stake in Watts Water Technologies by 80.4% in the first quarter. Covestor Ltd now owns 184 shares of the technology company’s stock worth $26,000 after purchasing an additional 82 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in Watts Water Technologies in the second quarter worth $32,000. Finally, 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 worth $36,000 after purchasing an additional 56 shares during the last quarter. 95.02% of the stock is currently owned by hedge funds and other institutional investors.

Watts Water Technologies Company Profile

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.