Watts Water Technologies (NYSE:WTS) Reaches New 12-Month High on Earnings Beat

Watts Water Technologies, Inc. (NYSE:WTS)’s stock price reached a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $227.89 and last traded at $226.75, with a volume of 30149 shares. The stock had previously closed at $208.75.

The technology company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.49% and a net margin of 12.37%.

Watts Water Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, February 28th. Watts Water Technologies’s dividend payout ratio (DPR) is 20.62%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WTS. Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Monday, November 4th. Stifel Nicolaus upped their price objective on Watts Water Technologies from $218.00 to $219.00 and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Watts Water Technologies from $197.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Watts Water Technologies in a report on Tuesday, December 17th. They issued a “hold” rating and a $240.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $220.00.

Institutional Trading of Watts Water Technologies

Hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new position in Watts Water Technologies during the 3rd quarter valued at about $30,000. UMB Bank n.a. boosted its stake in shares of Watts Water Technologies by 59.8% during the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock valued at $32,000 after purchasing an additional 58 shares in the last quarter. Headlands Technologies LLC increased its holdings in Watts Water Technologies by 329.1% during the fourth quarter. Headlands Technologies LLC now owns 236 shares of the technology company’s stock valued at $48,000 after buying an additional 181 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Watts Water Technologies in the third quarter worth approximately $68,000. Finally, Huntington National Bank lifted its holdings in Watts Water Technologies by 60.5% during the fourth quarter. Huntington National Bank now owns 366 shares of the technology company’s stock worth $74,000 after buying an additional 138 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Price Performance

The firm has a 50-day simple moving average of $208.15 and a 200-day simple moving average of $203.29. The firm has a market cap of $7.36 billion, a P/E ratio of 26.49, a PEG ratio of 3.39 and a beta of 0.93. The company has a current ratio of 2.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.13.

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.