2024-04-25 06:05:55 ET
Summary
- Watts Water Technologies has seen flattish sales between 2014 and 2020, but post-pandemic growth has returned.
- This looks uninspiring, yet the company has made a successful business transformation, resulting in higher margins and solid share price gains.
- While the positioning and balance sheet are strong, Watts is not really living up to its positioning in terms of sales growth, making me a bit cautious.
When Watts Water Technologies ( WTS ) announced the acquisition of Bradley last summer, I believed that the transaction was an interesting growth driver....
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Watts Water Technologies: A Soft Performance, Given Its Positioning