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

Watts Water Technologies (NYSE:WTS) posted its quarterly earnings data on Wednesday. The technology company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.26, FiscalAI reports. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The firm had revenue of $728.00 million for the quarter, compared to the consensus estimate of $692.57 million. During the same period in the previous year, the firm earned $2.50 EPS. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year.

Watts Water Technologies Price Performance

NYSE WTS traded down $6.10 during trading hours on Wednesday, hitting $354.23. The company had a trading volume of 357,421 shares, compared to its average volume of 274,874. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 3.50 and a beta of 1.13. Watts Water Technologies has a 52 week low of $260.00 and a 52 week high of $394.54. The firm has a 50 day simple moving average of $356.53 and a 200 day simple moving average of $332.02.

Watts Water Technologies Dividend Announcement

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

Insider Activity

In other news, Director Joseph T. Noonan sold 3,650 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Elie Melhem sold 1,096 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $359.55, for a total value of $394,066.80. Following the completion of the sale, the insider owned 7,867 shares in the company, valued at $2,828,579.85. This trade represents a 12.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.00% of the company’s stock.

Key Watts Water Technologies News

Here are the key news stories impacting Watts Water Technologies this week:

• Positive Sentiment: Watts Water reported Q3 earnings of $3.40 per share, topping estimates of about $3.14–$3.15 and rising from $2.50 a year earlier. Revenue reached $728 million, above the $692.6 million consensus and up 19% year over year. The company described the quarter as a record. Earnings release
• Neutral Sentiment: The company maintained its quarterly dividend at $0.63 per share, payable December 15 to shareholders of record December 1. This continues the existing payout rather than signaling a change in dividend policy. Dividend announcement

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 17th. Royal Bank Of Canada reissued a “sector perform” rating and set a $417.00 target price on shares of Watts Water Technologies in a research report on Wednesday, October 14th. Weiss Ratings raised shares of Watts Water Technologies from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. KeyCorp upped their price objective on Watts Water Technologies from $380.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $405.00 price objective on Watts Water Technologies in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $371.90.

Watts Water Technologies Company Profile

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.