Watts Water Technologies (NYSE:WTS – Get Rating) is scheduled to be releasing its earnings data after the market closes on Wednesday, August 3rd. Analysts expect Watts Water Technologies to post earnings of $1.63 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.
Watts Water Technologies (NYSE:WTS – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.24. The company had revenue of $463.20 million during the quarter, compared to the consensus estimate of $442.80 million. Watts Water Technologies had a net margin of 9.60% and a return on equity of 17.41%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. On average, analysts expect Watts Water Technologies to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Watts Water Technologies Stock Performance
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NYSE WTS opened at $131.75 on Wednesday. The firm has a 50-day moving average of $126.19 and a 200-day moving average of $139.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.28 and a current ratio of 2.27. The stock has a market cap of $4.41 billion, a PE ratio of 25.00, a P/E/G ratio of 2.65 and a beta of 0.97. Watts Water Technologies has a 52-week low of $116.31 and a 52-week high of $212.00.
Watts Water Technologies Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were paid a $0.30 dividend. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, May 31st. This represents a $1.20 annualized dividend and a yield of 0.91%. Watts Water Technologies’s payout ratio is 22.77%.
Insider Activity
In other news, insider Elie Melhem sold 3,800 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $129.54, for a total value of $492,252.00. Following the completion of the transaction, the insider now directly owns 12,303 shares in the company, valued at approximately $1,593,730.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On Watts Water Technologies
Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd boosted its position in Watts Water Technologies by 80.4% in the first quarter. Covestor Ltd now owns 184 shares of the technology company’s stock valued at $26,000 after buying an additional 82 shares in the last quarter. US Bancorp DE lifted its stake in shares of Watts Water Technologies by 41.6% in the 1st quarter. US Bancorp DE now owns 881 shares of the technology company’s stock valued at $123,000 after acquiring an additional 259 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Watts Water Technologies by 1.9% in the 1st quarter. Advisors Asset Management Inc. now owns 20,549 shares of the technology company’s stock valued at $2,868,000 after acquiring an additional 378 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Watts Water Technologies by 12.9% in the 1st quarter. American Century Companies Inc. now owns 4,237 shares of the technology company’s stock valued at $591,000 after acquiring an additional 483 shares during the last quarter. Finally, KB Financial Partners LLC lifted its stake in shares of Watts Water Technologies by 25.1% in the 1st quarter. KB Financial Partners LLC now owns 2,547 shares of the technology company’s stock valued at $356,000 after acquiring an additional 511 shares during the last quarter. 75.11% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have weighed in on WTS. Cowen dropped their price objective on shares of Watts Water Technologies from $130.00 to $120.00 in a research note on Tuesday, June 28th. Northcoast Research began coverage on shares of Watts Water Technologies in a research note on Friday, July 15th. They issued a “neutral” rating for the company. Boenning Scattergood reiterated a “neutral” rating on shares of Watts Water Technologies in a research note on Wednesday, May 4th. Cowen dropped their price objective on shares of Watts Water Technologies from $130.00 to $120.00 in a research note on Tuesday, June 28th. Finally, The Goldman Sachs Group dropped their price objective on shares of Watts Water Technologies from $165.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday, April 13th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $129.25.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products, solution, and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the commercial and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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