Watts Water Technologies Inc (NYSE:WTS) – Equities researchers at Boenning Scattergood boosted their FY2018 earnings per share (EPS) estimates for shares of Watts Water Technologies in a report issued on Monday, November 5th. Boenning Scattergood analyst R. Connors now expects that the technology company will post earnings per share of $3.71 for the year, up from their previous forecast of $3.65. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Watts Water Technologies’ Q4 2018 earnings at $0.85 EPS, Q3 2019 earnings at $1.06 EPS and Q4 2019 earnings at $0.94 EPS.
WTS has been the subject of a number of other research reports. Northcoast Research reiterated a “buy” rating and set a $105.00 target price on shares of Watts Water Technologies in a research note on Friday, August 3rd. Stifel Nicolaus boosted their target price on shares of Watts Water Technologies from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, August 3rd. Robert W. Baird reiterated a “hold” rating and set a $82.00 target price on shares of Watts Water Technologies in a research note on Friday, July 20th. Oppenheimer reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Tuesday, October 2nd. Finally, Seaport Global Securities reiterated a “hold” rating and set a $83.00 target price on shares of Watts Water Technologies in a research note on Thursday, August 2nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $90.80.
Shares of WTS stock opened at $74.96 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.24 and a quick ratio of 1.38. The firm has a market cap of $2.56 billion, a P/E ratio of 24.82, a PEG ratio of 1.84 and a beta of 1.16. Watts Water Technologies has a 12 month low of $67.29 and a 12 month high of $93.35.
Watts Water Technologies (NYSE:WTS) last issued its earnings results on Friday, November 2nd. The technology company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $390.90 million during the quarter, compared to the consensus estimate of $380.00 million. Watts Water Technologies had a net margin of 6.05% and a return on equity of 14.43%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.12%. Watts Water Technologies’s payout ratio is currently 27.81%.
In other Watts Water Technologies news, insider Elie Melhem sold 3,910 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $82.32, for a total value of $321,871.20. Following the completion of the transaction, the insider now owns 22,991 shares in the company, valued at $1,892,619.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph T. Noonan sold 2,653 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $76.00, for a total transaction of $201,628.00. Following the completion of the transaction, the director now owns 2,109 shares of the company’s stock, valued at approximately $160,284. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTS. Itau Unibanco Holding S.A. acquired a new position in Watts Water Technologies in the second quarter valued at $102,000. Fort L.P. acquired a new position in Watts Water Technologies in the second quarter valued at $108,000. Compton Capital Management Inc. RI acquired a new position in Watts Water Technologies in the third quarter valued at $203,000. Robeco Institutional Asset Management B.V. acquired a new position in Watts Water Technologies in the second quarter valued at $212,000. Finally, Hartford Investment Management Co. acquired a new position in Watts Water Technologies in the second quarter valued at $222,000. Institutional investors own 77.03% of the company’s stock.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It 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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