Watts Water Technologies (NYSE:WTS) Reaches New 52-Week High on Strong Earnings

Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock 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 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 Announces Dividend

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 issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.80%. Watts Water Technologies's dividend payout ratio is 20.62%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Watts Water Technologies from $218.00 to $219.00 and gave the company a "hold" rating in a report on Wednesday. Northcoast Research raised Watts Water Technologies from a "neutral" rating to a "buy" rating and set a $225.00 price objective on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Watts Water Technologies in a report on Tuesday, December 17th. They set a "hold" rating and a $240.00 price objective on the stock. Finally, The Goldman Sachs Group raised their price objective on Watts Water Technologies from $197.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $220.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Andina Capital Management LLC lifted its stake in shares of Watts Water Technologies by 3.3% in the 3rd quarter. Andina Capital Management LLC now owns 1,650 shares of the technology company's stock valued at $342,000 after purchasing an additional 52 shares during the period. Arizona State Retirement System lifted its stake in shares of Watts Water Technologies by 0.7% in the 4th quarter. Arizona State Retirement System now owns 7,950 shares of the technology company's stock valued at $1,616,000 after purchasing an additional 56 shares during the period. UMB Bank n.a. lifted its stake in shares of 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 purchasing an additional 58 shares during the period. Cerity Partners LLC lifted its stake in shares of Watts Water Technologies by 0.5% in the 4th quarter. Cerity Partners LLC now owns 12,410 shares of the technology company's stock valued at $2,541,000 after purchasing an additional 58 shares during the period. Finally, Portside Wealth Group LLC raised its stake in Watts Water Technologies by 2.5% during the third quarter. Portside Wealth Group LLC now owns 2,496 shares of the technology company's stock valued at $517,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company's stock.

Watts Water Technologies Stock Down 2.8 %

The stock has a 50 day simple moving average of $208.33 and a 200-day simple moving average of $203.53. The firm has a market cap of $7.13 billion, a PE ratio of 25.64, a PEG 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.

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.