Watts Water Technologies (NYSE:WTS) Shares Gap Down – Time to Sell?

Watts Water Technologies, Inc. (NYSE:WTS) shares gapped down prior to trading on Thursday . The stock had previously closed at $213.12, but opened at $204.86. Watts Water Technologies shares last traded at $212.36, with a volume of 17,331 shares traded.

Wall Street Analyst Weigh In

Several brokerages have commented on WTS. Stifel Nicolaus increased their price target on Watts Water Technologies from $218.00 to $219.00 and gave the company a “hold” rating in a report on Wednesday, February 12th. The Goldman Sachs Group upped their price target on shares of Watts Water Technologies from $197.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Watts Water Technologies in a research report on Tuesday, December 17th. They set a “hold” rating and a $240.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $220.00.

Watts Water Technologies Stock Performance

The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 3.42 and a beta of 0.93. The firm has a fifty day simple moving average of $210.54 and a 200 day simple moving average of $207.16. The company has a current ratio of 2.59, a quick ratio of 1.65 and a debt-to-equity ratio of 0.12.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Monday, February 10th. 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 net margin of 12.93% and a return on equity of 18.08%. As a group, sell-side analysts expect that Watts Water Technologies, Inc. will post 9.08 earnings per share for the current year.

Watts Water Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.43 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.72 annualized dividend and a dividend yield of 0.81%. Watts Water Technologies’s dividend payout ratio is currently 19.79%.

Insider Transactions at Watts Water Technologies

In other news, insider Elie Melhem sold 4,397 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $210.53, for a total value of $925,700.41. Following the sale, the insider now owns 10,469 shares of the company’s stock, valued at approximately $2,204,038.57. This represents a 29.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Watts Water Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Watts Water Technologies by 0.7% during the fourth quarter. Arizona State Retirement System now owns 7,950 shares of the technology company’s stock worth $1,616,000 after buying an additional 56 shares in the last quarter. UMB Bank n.a. increased its holdings in Watts Water Technologies by 59.8% during the 4th 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. Andina Capital Management LLC raised its position in Watts Water Technologies by 3.5% in the 4th quarter. Andina Capital Management LLC now owns 1,708 shares of the technology company’s stock valued at $347,000 after purchasing an additional 58 shares during the last quarter. Cerity Partners LLC boosted its stake in Watts Water Technologies by 0.5% in the fourth quarter. Cerity Partners LLC now owns 12,410 shares of the technology company’s stock worth $2,541,000 after purchasing an additional 58 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Watts Water Technologies by 3.8% during the fourth quarter. Empowered Funds LLC now owns 1,652 shares of the technology company’s stock worth $336,000 after purchasing an additional 60 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors and hedge funds.

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.