Watts Water Technologies (NYSE:WTS) Issues Quarterly Earnings Results, Beats Expectations By $0.26 EPS

Watts Water Technologies (NYSE:WTS – Get Free Report) released its quarterly earnings data on Wednesday. The technology company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.14 by $0.26, FiscalAI reports. The firm had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $692.57 million. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%.

Watts Water Technologies Trading Down 1.7%

Shares of Watts Water Technologies stock traded down $6.10 on Wednesday, hitting $354.23. 357,420 shares of the company traded hands, compared to its average volume of 262,849. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 0.05. The company has a market cap of $11.82 billion, a PE ratio of 30.94, a PEG ratio of 3.45 and a beta of 1.13. The stock’s 50 day moving average price is $356.88 and its 200-day moving average price is $331.73. Watts Water Technologies has a 52 week low of $260.00 and a 52 week high of $394.54.

Watts Water Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, December 1st. Watts Water Technologies’s payout ratio is currently 22.01%.

Insider Activity at Watts Water Technologies

In other Watts Water Technologies news, Director Joseph Noonan sold 3,650 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $353.72, for a total transaction of $1,291,078.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Elie Melhem sold 1,096 shares of Watts Water Technologies stock in a transaction on Friday, September 4th. The shares were sold at an average price of $359.55, for a total value of $394,066.80. Following the sale, the insider directly owned 7,867 shares of the company’s stock, valued at approximately $2,828,579.85. This trade represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WTS has been the subject of several research analyst reports. Barclays raised their price target on Watts Water Technologies from $414.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Wall Street Zen lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. KeyCorp boosted their price objective on shares of Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Stifel Nicolaus set a $445.00 target price on shares of Watts Water Technologies in a report on Monday, October 19th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $374.00 price objective on shares of Watts Water Technologies in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $371.90.

Check Out Our Latest Stock Analysis on Watts Water Technologies

About Watts Water Technologies

(Get Free Report)

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company’s offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.

See Also

Earnings History for Watts Water Technologies (NYSE:WTS)

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