Watts Water Technologies (NYSE:WTS) Posts Quarterly Earnings Results

Watts Water Technologies (NYSE:WTS) announced its quarterly earnings data on Wednesday. The technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.22, Briefing.com reports. Watts Water Technologies had a return on equity of 19.38% and a net margin of 12.75%. The company had revenue of $570.90 million for the quarter, compared to analysts’ expectations of $547.20 million. During the same quarter in the prior year, the business posted $1.92 EPS. The business’s revenue was up 21.0% compared to the same quarter last year. Watts Water Technologies updated its FY 2024 guidance to EPS.

Watts Water Technologies Stock Performance

WTS stock traded down $0.03 during trading hours on Friday, hitting $211.13. 16,173 shares of the stock were exchanged, compared to its average volume of 128,362. The company has a 50-day simple moving average of $205.16 and a two-hundred day simple moving average of $199.78. The firm has a market capitalization of $7.03 billion, a P/E ratio of 27.01, a P/E/G ratio of 3.00 and a beta of 0.95. Watts Water Technologies has a 12 month low of $156.85 and a 12 month high of $219.52. The company has a current ratio of 2.61, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20.

Watts Water Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.36. This represents a $1.72 annualized dividend and a yield of 0.81%. Watts Water Technologies’s payout ratio is 18.41%.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, CAO Virginia A. Halloran sold 1,520 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $202.11, for a total value of $307,207.20. Following the completion of the sale, the chief accounting officer now owns 14,818 shares of the company’s stock, valued at approximately $2,994,865.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Watts Water Technologies news, CAO Virginia A. Halloran sold 1,520 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $202.11, for a total value of $307,207.20. Following the transaction, the chief accounting officer now directly owns 14,818 shares of the company’s stock, valued at approximately $2,994,865.98. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Elie Melhem sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $199.50, for a total transaction of $498,750.00. Following the completion of the transaction, the insider now owns 13,564 shares of the company’s stock, valued at $2,706,018. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,113 shares of company stock worth $1,023,106. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

WTS has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on Watts Water Technologies from $212.00 to $225.00 and gave the stock a “neutral” rating in a research report on Friday. Stifel Nicolaus increased their price target on Watts Water Technologies from $206.00 to $209.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $199.50.

About Watts Water Technologies

Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.