Watts Water Technologies, Inc. (NYSE:WTS) – Equities research analysts at Seaport Res Ptn raised their Q4 2021 EPS estimates for shares of Watts Water Technologies in a research note issued to investors on Wednesday, May 12th. Seaport Res Ptn analyst W. Liptak now expects that the technology company will post earnings of $1.20 per share for the quarter, up from their previous estimate of $1.01. Seaport Res Ptn also issued estimates for Watts Water Technologies’ Q4 2022 earnings at $1.27 EPS.
Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings data on Tuesday, May 4th. The technology company reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.23. Watts Water Technologies had a net margin of 7.67% and a return on equity of 13.15%. The business had revenue of $413.30 million during the quarter, compared to analysts’ expectations of $383.58 million. During the same quarter in the prior year, the business posted $0.95 earnings per share. Watts Water Technologies’s revenue was up 8.0% compared to the same quarter last year.
WTS opened at $138.99 on Friday. Watts Water Technologies has a twelve month low of $73.12 and a twelve month high of $140.39. The company has a 50-day simple moving average of $123.56 and a 200 day simple moving average of $120.82. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 40.88, a P/E/G ratio of 4.03 and a beta of 0.93.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Johnson Investment Counsel Inc. raised its holdings in Watts Water Technologies by 1.0% in the 1st quarter. Johnson Investment Counsel Inc. now owns 10,270 shares of the technology company’s stock valued at $1,220,000 after buying an additional 100 shares during the last quarter. Profund Advisors LLC raised its holdings in Watts Water Technologies by 3.6% in the 1st quarter. Profund Advisors LLC now owns 3,130 shares of the technology company’s stock valued at $372,000 after buying an additional 109 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in Watts Water Technologies by 3.1% in the 1st quarter. Rockefeller Capital Management L.P. now owns 4,937 shares of the technology company’s stock valued at $586,000 after buying an additional 147 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Watts Water Technologies by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,276 shares of the technology company’s stock valued at $1,340,000 after buying an additional 200 shares during the last quarter. Finally, Fieldpoint Private Securities LLC bought a new position in Watts Water Technologies in the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds own 75.03% of the company’s stock.
In related news, insider Munish Nanda sold 7,883 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $135.85, for a total value of $1,070,905.55. Following the completion of the transaction, the insider now owns 19,072 shares in the company, valued at approximately $2,590,931.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Elie Melhem sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $138.50, for a total transaction of $303,315.00. Following the completion of the transaction, the insider now owns 16,067 shares of the company’s stock, valued at approximately $2,225,279.50. The disclosure for this sale can be found here. Insiders sold 48,711 shares of company stock valued at $6,116,232 in the last three months. Company insiders own 1.10% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be issued a $0.26 dividend. The ex-dividend date is Friday, May 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.23. Watts Water Technologies’s dividend payout ratio is 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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