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

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

The technology company reported $2.05 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.43 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 0.77%. Watts Water Technologies’s payout ratio is 20.62%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Watts Water Technologies in a research report on Tuesday, December 17th. They set a “hold” rating and a $240.00 target price for the company. Stifel Nicolaus increased their target price on Watts Water Technologies from $202.00 to $218.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, Northcoast Research raised Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $220.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in Watts Water Technologies by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 316,407 shares of the technology company’s stock worth $65,556,000 after buying an additional 9,148 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Watts Water Technologies by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 17,382 shares of the technology company’s stock worth $3,484,000 after acquiring an additional 4,967 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Watts Water Technologies by 4.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 267,439 shares of the technology company’s stock valued at $55,411,000 after purchasing an additional 12,159 shares during the period. State Street Corp grew its stake in Watts Water Technologies by 0.9% in the third quarter. State Street Corp now owns 977,000 shares of the technology company’s stock worth $202,425,000 after purchasing an additional 8,314 shares during the period. Finally, SG Americas Securities LLC grew its stake in Watts Water Technologies by 264.1% in the fourth quarter. SG Americas Securities LLC now owns 6,080 shares of the technology company’s stock worth $1,236,000 after purchasing an additional 4,410 shares during the period. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Price Performance

The firm has a market cap of $7.49 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 3.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 1.55. The firm has a 50-day simple moving average of $207.93 and a 200 day simple moving average of $203.16.

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.