Brokerages expect that Watts Water Technologies, Inc. (NYSE:WTS) will post $0.98 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Watts Water Technologies’ earnings, with the highest EPS estimate coming in at $1.02 and the lowest estimate coming in at $0.88. Watts Water Technologies posted earnings of $0.95 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.2%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, May 4th.
According to Zacks, analysts expect that Watts Water Technologies will report full year earnings of $3.81 per share for the current financial year, with EPS estimates ranging from $3.72 to $3.87. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.22 per share, with EPS estimates ranging from $4.11 to $4.32. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, February 10th. The technology company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. Watts Water Technologies had a net margin of 7.67% and a return on equity of 13.15%. The firm had revenue of $403.40 million during the quarter, compared to analyst estimates of $385.88 million. During the same quarter in the previous year, the business earned $1.00 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year.
Separately, Seaport Global Securities reissued a “neutral” rating on shares of Watts Water Technologies in a report on Thursday, February 11th.
In other news, major shareholder Timothy P. Horne sold 20,000 shares of the company’s stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $114.74, for a total value of $2,294,800.00. Also, insider Elie Melhem sold 3,109 shares of the company’s stock in a transaction dated Tuesday, March 2nd. The shares were sold at an average price of $115.51, for a total transaction of $359,120.59. Following the completion of the sale, the insider now directly owns 17,427 shares in the company, valued at $2,012,992.77. The disclosure for this sale can be found here. Insiders have sold a total of 24,337 shares of company stock worth $2,800,937 over the last three months. Insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in WTS. BlackRock Inc. grew its stake in Watts Water Technologies by 9.3% in the 4th quarter. BlackRock Inc. now owns 4,544,633 shares of the technology company’s stock valued at $553,082,000 after buying an additional 385,222 shares during the last quarter. Norges Bank acquired a new position in shares of Watts Water Technologies during the 4th quarter worth approximately $44,344,000. Wells Fargo & Company MN grew its position in shares of Watts Water Technologies by 339.5% during the 4th quarter. Wells Fargo & Company MN now owns 385,377 shares of the technology company’s stock worth $46,900,000 after purchasing an additional 297,695 shares in the last quarter. Morgan Stanley grew its position in shares of Watts Water Technologies by 193.9% during the 4th quarter. Morgan Stanley now owns 242,526 shares of the technology company’s stock worth $29,515,000 after purchasing an additional 159,993 shares in the last quarter. Finally, DNB Asset Management AS acquired a new position in shares of Watts Water Technologies during the 4th quarter worth approximately $15,447,000. Institutional investors and hedge funds own 75.03% of the company’s stock.
WTS traded up $0.71 during trading on Friday, reaching $120.54. 122,977 shares of the company’s stock were exchanged, compared to its average volume of 154,625. The company’s fifty day moving average price is $118.80 and its 200-day moving average price is $118.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.38 and a current ratio of 2.39. Watts Water Technologies has a fifty-two week low of $71.01 and a fifty-two week high of $131.51. The firm has a market capitalization of $4.05 billion, a PE ratio of 35.45, a P/E/G ratio of 4.03 and a beta of 0.93.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 26th. This represents a $0.92 annualized dividend and a yield of 0.76%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 22.60%.
About Watts Water Technologies
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 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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