Watts Water Technologies (NYSE:WTS) Issues Quarterly Earnings Results
by Teresa Graham · The Cerbat GemWatts Water Technologies (NYSE:WTS – Get Free Report) issued its earnings results on Wednesday. The technology company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.32, FiscalAI reports. The business had revenue of $677.30 million during the quarter, compared to analysts’ expectations of $638.13 million. Watts Water Technologies had a net margin of 14.32% and a return on equity of 18.92%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.37 earnings per share.
Watts Water Technologies Trading Up 1.0%
NYSE:WTS traded up $2.84 during trading hours on Friday, reaching $296.98. 328,238 shares of the stock were exchanged, compared to its average volume of 305,560. Watts Water Technologies has a twelve month low of $230.47 and a twelve month high of $345.17. The company has a quick ratio of 1.49, a current ratio of 2.72 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average of $301.64 and a two-hundred day moving average of $292.71. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 2.66 and a beta of 1.20.
Watts Water Technologies Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, June 1st. Watts Water Technologies’s dividend payout ratio (DPR) is 20.45%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on WTS shares. TD Cowen reissued a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, January 8th. The Goldman Sachs Group lifted their price target on Watts Water Technologies from $267.00 to $323.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Zacks Research lowered shares of Watts Water Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, February 27th. Royal Bank Of Canada raised their price objective on shares of Watts Water Technologies from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Stifel Nicolaus set a $379.00 target price on shares of Watts Water Technologies in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $330.11.
Read Our Latest Report on Watts Water Technologies
Insider Buying and Selling
In other news, Director Michael J. Dubose sold 332 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $301.70, for a total transaction of $100,164.40. Following the sale, the director owned 2,212 shares of the company’s stock, valued at approximately $667,360.40. This represents a 13.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Timothy P. Horne sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $330.04, for a total transaction of $2,475,300.00. Following the sale, the insider directly owned 7,500 shares in the company, valued at approximately $2,475,300. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,674 shares of company stock worth $9,669,838 over the last 90 days. 1.00% of the stock is owned by insiders.
Institutional Investors Weigh In On Watts Water Technologies
Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its position in shares of Watts Water Technologies by 10.2% during the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after buying an additional 174 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Watts Water Technologies by 80.2% in the first quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after acquiring an additional 445 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after acquiring an additional 7,537 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Watts Water Technologies during the 2nd quarter worth approximately $219,000. Finally, Cetera Investment Advisers increased its position in shares of Watts Water Technologies by 43.2% in the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock valued at $426,000 after purchasing an additional 523 shares during the last quarter. Hedge funds and other institutional investors own 95.02% of the company’s stock.
About Watts Water Technologies
Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.
The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.