Watts Water Technologies, Inc. (NYSE:WTS – Get Rating) – Research analysts at Seaport Res Ptn raised their Q2 2022 earnings per share (EPS) estimates for shares of Watts Water Technologies in a report issued on Monday, May 9th. Seaport Res Ptn analyst W. Liptak now expects that the technology company will earn $1.66 per share for the quarter, up from their previous forecast of $1.58. Seaport Res Ptn currently has a “Neutral” rating on the stock. Seaport Res Ptn also issued estimates for Watts Water Technologies’ Q4 2022 earnings at $1.30 EPS.
Several other research analysts have also commented on the company. StockNews.com started coverage on Watts Water Technologies in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. The Goldman Sachs Group cut their price objective on Watts Water Technologies from $165.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 13th. Boenning Scattergood reissued a “neutral” rating on shares of Watts Water Technologies in a research report on Wednesday, May 4th. Finally, Stifel Nicolaus lowered their target price on Watts Water Technologies from $148.00 to $141.00 in a research note on Thursday, May 5th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Watts Water Technologies has a consensus rating of “Hold” and a consensus price target of $144.00.
Watts Water Technologies (NYSE:WTS – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.37 by $0.26. Watts Water Technologies had a return on equity of 17.41% and a net margin of 9.60%. The company had revenue of $463.20 million for the quarter, compared to analyst estimates of $442.80 million. During the same period last year, the company posted $1.24 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of WTS. BlackRock Inc. grew its stake in Watts Water Technologies by 7.0% in the fourth quarter. BlackRock Inc. now owns 4,897,734 shares of the technology company’s stock worth $950,992,000 after purchasing an additional 318,578 shares in the last quarter. Norges Bank acquired a new position in Watts Water Technologies in the fourth quarter valued at approximately $49,807,000. Vaughan Nelson Investment Management L.P. acquired a new position in Watts Water Technologies in the first quarter valued at approximately $22,576,000. Renaissance Technologies LLC boosted its stake in Watts Water Technologies by 188.9% in the first quarter. Renaissance Technologies LLC now owns 230,000 shares of the technology company’s stock valued at $32,106,000 after acquiring an additional 150,400 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Watts Water Technologies by 72.1% in the first quarter. Victory Capital Management Inc. now owns 299,113 shares of the technology company’s stock valued at $41,650,000 after acquiring an additional 125,337 shares during the period. Institutional investors and hedge funds own 75.11% of the company’s stock.
In other news, insider Elie Melhem sold 5,600 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $145.04, for a total transaction of $812,224.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.26. This represents a $1.20 annualized dividend and a dividend yield of 0.91%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 19.73%.
About Watts Water Technologies (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Watts Water Technologies (WTS)
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