Watts Water Technologies, Inc. (NYSE:WTS) to Post Q3 2017 Earnings of $0.78 Per Share, KeyCorp Forecasts
Watts Water Technologies, Inc. (NYSE:WTS) – Investment analysts at KeyCorp upped their Q3 2017 earnings estimates for Watts Water Technologies in a research report issued to clients and investors on Wednesday. KeyCorp analyst J. Hammond now forecasts that the technology company will earn $0.78 per share for the quarter, up from their previous forecast of $0.76. KeyCorp also issued estimates for Watts Water Technologies’ Q4 2017 earnings at $0.73 EPS.
Several other analysts also recently commented on the stock. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Watts Water Technologies in a report on Thursday, May 4th. BidaskClub downgraded shares of Watts Water Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Finally, Zacks Investment Research upgraded shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Watts Water Technologies presently has an average rating of “Hold” and an average target price of $64.50.
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Watts Water Technologies (NYSE WTS) opened at 66.20 on Monday. Watts Water Technologies has a 12 month low of $58.35 and a 12 month high of $71.05. The stock has a 50 day moving average of $63.18 and a 200-day moving average of $62.97. The company has a market cap of $2.28 billion, a P/E ratio of 25.86 and a beta of 1.07.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The company had revenue of $378.50 million during the quarter, compared to the consensus estimate of $379.51 million. During the same quarter last year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock worth $222,353,000 after buying an additional 3,541,642 shares during the period. Impax Asset Management LTD increased its stake in Watts Water Technologies by 28.2% in the first quarter. Impax Asset Management LTD now owns 2,018,429 shares of the technology company’s stock worth $125,846,000 after buying an additional 444,528 shares during the period. Vanguard Group Inc. increased its stake in Watts Water Technologies by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock worth $161,541,000 after buying an additional 205,883 shares during the period. Norges Bank bought a new stake in Watts Water Technologies during the fourth quarter worth about $12,800,000. Finally, Victory Capital Management Inc. increased its stake in Watts Water Technologies by 24.6% in the first quarter. Victory Capital Management Inc. now owns 540,089 shares of the technology company’s stock worth $33,674,000 after buying an additional 106,590 shares during the period. Institutional investors and hedge funds own 77.73% of the company’s stock.
In related news, insider Elie Melhem sold 1,281 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $64.42, for a total transaction of $82,522.02. Following the completion of the sale, the insider now owns 29,493 shares in the company, valued at $1,899,939.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 1.15%. Watts Water Technologies’s dividend payout ratio (DPR) is presently 29.69%.
About Watts Water Technologies
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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