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

Watts Water Technologies, Inc. (NYSE:WTS - Get Free Report) 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 trading hands.

Analyst Ratings Changes

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

Watts Water Technologies Stock Up 2.0 %

The firm has a market capitalization of $7.03 billion, a PE ratio of 24.28, a PEG ratio of 3.42 and a beta of 0.93. The company's 50 day simple moving average is $210.96 and its 200-day simple moving average is $207.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.65 and a current ratio of 2.59.

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Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The technology company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.91 by $0.14. Watts Water Technologies had a return on equity of 18.08% and a net margin of 12.93%. On average, analysts forecast that Watts Water Technologies, Inc. will post 9.08 EPS for the current fiscal year.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.82%. Watts Water Technologies's payout ratio is 19.79%.

Insider Activity

In other news, insider Elie Melhem sold 4,397 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $210.53, for a total value of $925,700.41. Following the completion of the sale, the insider now owns 10,469 shares of the company's stock, valued at approximately $2,204,038.57. The trade was a 29.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Watts Water Technologies

Large investors have recently bought and sold shares of the stock. UMB Bank n.a. grew its holdings in shares of Watts Water Technologies by 59.8% in the fourth quarter. UMB Bank n.a. now owns 155 shares of the technology company's stock worth $32,000 after purchasing an additional 58 shares during the last quarter. Headlands Technologies LLC boosted its position in Watts Water Technologies by 329.1% during the 4th quarter. Headlands Technologies LLC now owns 236 shares of the technology company's stock valued at $48,000 after buying an additional 181 shares during the period. Huntington National Bank boosted its position in Watts Water Technologies by 60.5% during the 4th quarter. Huntington National Bank now owns 366 shares of the technology company's stock valued at $74,000 after buying an additional 138 shares during the period. Jones Financial Companies Lllp grew its holdings in Watts Water Technologies by 660.3% in the 4th quarter. Jones Financial Companies Lllp now owns 555 shares of the technology company's stock worth $113,000 after acquiring an additional 482 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Watts Water Technologies by 45.2% in the fourth quarter. Farther Finance Advisors LLC now owns 565 shares of the technology company's stock valued at $115,000 after acquiring an additional 176 shares during the period. 95.02% of the stock is owned by hedge funds and other institutional investors.

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.