Watts Water Technologies (NYSE:WTS) Reaches New 52-Week High After Better-Than-Expected Earnings

Shares of Watts Water Technologies, Inc. (NYSE:WTS) reached a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $208.75.

The technology company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, February 28th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 20.62%.

Analysts Set New Price Targets

Several research analysts have commented on WTS shares. Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a report on Monday, November 4th. Stifel Nicolaus lifted their price objective on Watts Water Technologies from $202.00 to $218.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Watts Water Technologies in a research report on Tuesday, December 17th. They issued a “hold” rating and a $240.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $220.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors 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 approximately $30,000. UMB Bank n.a. boosted its position in Watts Water Technologies by 59.8% in the 4th quarter. UMB Bank n.a. now owns 155 shares of the technology company’s stock valued at $32,000 after buying an additional 58 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Watts Water Technologies in the third quarter valued at approximately $68,000. CWM LLC grew its position in shares of Watts Water Technologies by 24.4% during the 3rd quarter. CWM LLC now owns 392 shares of the technology company’s stock worth $81,000 after buying an additional 77 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Watts Water Technologies by 99.3% during the third quarter. Blue Trust Inc. now owns 544 shares of the technology company’s stock valued at $113,000 after buying an additional 271 shares during the period. 95.02% of the stock is currently owned by institutional investors.

Watts Water Technologies Stock Up 8.4 %

The stock has a market capitalization of $7.54 billion, a PE ratio of 27.23, a PEG ratio of 3.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.55 and a current ratio of 2.55. The business has a 50 day moving average of $207.93 and a two-hundred day moving average of $203.16.

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.