Watts Water Technologies (NYSE:WTS) Announces Earnings Results

Watts Water Technologies (NYSE:WTSGet Rating) announced its earnings results on Tuesday. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.26, MarketWatch Earnings reports. Watts Water Technologies had a return on equity of 16.55% and a net margin of 9.16%. The company had revenue of $463.20 million for the quarter, compared to analyst estimates of $442.80 million. During the same period in the prior year, the company posted $1.24 EPS. Watts Water Technologies’s quarterly revenue was up 12.1% on a year-over-year basis.

NYSE:WTS opened at $129.26 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 1.20 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $139.24 and a 200-day moving average of $167.33. The firm has a market capitalization of $4.34 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 2.65 and a beta of 0.98. Watts Water Technologies has a 52 week low of $123.33 and a 52 week high of $212.00.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Tuesday, March 1st were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, February 28th. This represents a $1.04 dividend on an annualized basis and a yield of 0.80%. Watts Water Technologies’s dividend payout ratio is currently 21.27%.

Several analysts recently issued reports on the stock. Seaport Res Ptn reiterated a “neutral” rating on shares of Watts Water Technologies in a research note on Thursday, February 17th. The Goldman Sachs Group reduced their price target on shares of 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. StockNews.com assumed coverage on Watts Water Technologies in a report on Thursday, March 31st. They issued a “buy” rating for the company. Finally, Stifel Nicolaus reduced their target price on Watts Water Technologies from $159.00 to $148.00 and set a “hold” rating on the stock in a report on Monday, April 18th.

In related news, insider Elie Melhem sold 5,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $145.04, for a total transaction of $812,224.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Watts Water Technologies by 7.0% during the fourth quarter. BlackRock Inc. now owns 4,897,734 shares of the technology company’s stock valued at $950,992,000 after purchasing an additional 318,578 shares during the period. Legal & General Group Plc increased its stake in Watts Water Technologies by 6.8% during the 4th quarter. Legal & General Group Plc now owns 120,573 shares of the technology company’s stock valued at $23,412,000 after buying an additional 7,712 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Watts Water Technologies by 50.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 87,243 shares of the technology company’s stock worth $16,940,000 after buying an additional 29,196 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Watts Water Technologies by 2.6% in the 4th quarter. Parametric Portfolio Associates LLC now owns 78,304 shares of the technology company’s stock worth $15,204,000 after acquiring an additional 1,996 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Watts Water Technologies by 51.2% in the fourth quarter. Barclays PLC now owns 47,673 shares of the technology company’s stock valued at $9,256,000 after acquiring an additional 16,151 shares in the last quarter. 75.11% of the stock is owned by hedge funds and other institutional investors.

Watts Water Technologies Company Profile (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.

Further Reading

Earnings History for Watts Water Technologies (NYSE:WTS)

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