Watts Water Technologies Inc. (NYSE:WTS) was downgraded by analysts at TheStreet from a “b” rating to a “c” rating in a research note issued on Tuesday.
Separately, Zacks Investment Research downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Watts Water Technologies has an average rating of “Hold” and an average target price of $61.40.
Watts Water Technologies (NYSE:WTS) traded down 0.39% during mid-day trading on Tuesday, reaching $63.80. The company’s stock had a trading volume of 38,868 shares. Watts Water Technologies has a 12-month low of $46.15 and a 12-month high of $71.05. The company has a 50-day moving average price of $66.82 and a 200-day moving average price of $64.23. The firm’s market cap is $2.18 billion.
Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, November 2nd. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Watts Water Technologies had a positive return on equity of 12.41% and a negative net margin of 3.64%. The firm had revenue of $341 million for the quarter, compared to the consensus estimate of $352.64 million. During the same quarter in the prior year, the business earned $0.67 EPS. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, equities research analysts expect that Watts Water Technologies will post $2.67 earnings per share for the current year.
In related news, Director Richard J. Cathcart sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $68.47, for a total value of $68,470.00. Following the transaction, the director now directly owns 18,032 shares of the company’s stock, valued at approximately $1,234,651.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elie Melhem sold 6,143 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $67.78, for a total value of $416,372.54. Following the completion of the transaction, the insider now directly owns 32,464 shares in the company, valued at $2,200,409.92. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Watts Water Technologies by 22.9% in the second quarter. BlackRock Inc. now owns 15,086 shares of the company’s stock valued at $879,000 after buying an additional 2,814 shares during the period. BlackRock Advisors LLC boosted its position in Watts Water Technologies by 46.3% in the second quarter. BlackRock Advisors LLC now owns 18,699 shares of the company’s stock valued at $1,089,000 after buying an additional 5,918 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Watts Water Technologies by 1,543.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,808 shares of the company’s stock valued at $105,000 after buying an additional 1,698 shares during the last quarter. PineBridge Investments L.P. boosted its position in Watts Water Technologies by 3.1% in the second quarter. PineBridge Investments L.P. now owns 3,533 shares of the company’s stock valued at $206,000 after buying an additional 106 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Watts Water Technologies by 4.2% in the second quarter. Vanguard Group Inc. now owns 2,223,809 shares of the company’s stock valued at $129,559,000 after buying an additional 89,676 shares during the last quarter. 81.39% of the stock is currently owned by institutional investors and hedge funds.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc (Watts) is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.