KeyCorp Weighs in on Watts Water Technologies Inc’s FY2018 Earnings (WTS)

Watts Water Technologies Inc (NYSE:WTS) – KeyCorp boosted their FY2018 EPS estimates for shares of Watts Water Technologies in a note issued to investors on Thursday. KeyCorp analyst J. Hammond now expects that the technology company will post earnings of $3.65 per share for the year, up from their prior forecast of $3.30. KeyCorp has a “Hold” rating on the stock.

Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The firm had revenue of $347.70 million during the quarter, compared to analyst estimates of $361.22 million. During the same period last year, the firm posted $0.71 earnings per share. Watts Water Technologies’s revenue for the quarter was up 1.9% compared to the same quarter last year.

A number of other research analysts have also weighed in on WTS. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 target price (up from $85.00) on shares of Watts Water Technologies in a report on Tuesday, January 16th. Northcoast Research set a $90.00 price target on Watts Water Technologies and gave the stock a “buy” rating in a research report on Friday. Cowen restated a “hold” rating and issued a $58.00 price target on shares of Watts Water Technologies in a research report on Thursday, September 28th. Seaport Global Securities restated a “neutral” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. Finally, Boenning Scattergood restated a “buy” rating on shares of Watts Water Technologies in a research report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $77.33.

Watts Water Technologies (NYSE:WTS) opened at $80.50 on Monday. Watts Water Technologies has a fifty-two week low of $59.15 and a fifty-two week high of $80.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.57 and a quick ratio of 1.70. The firm has a market cap of $2,748.91, a price-to-earnings ratio of 29.81, a P/E/G ratio of 2.00 and a beta of 1.16.

In other news, CEO Robert J. Pagano, Jr. sold 3,951 shares of Watts Water Technologies stock in a transaction on Monday, December 11th. The stock was sold at an average price of $73.09, for a total transaction of $288,778.59. Following the completion of the sale, the chief executive officer now directly owns 137,474 shares in the company, valued at $10,047,974.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Elie Melhem sold 2,545 shares of Watts Water Technologies stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $70.48, for a total value of $179,371.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,348 shares of company stock valued at $1,339,628. 1.10% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its position in shares of Watts Water Technologies by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after purchasing an additional 17 shares during the last quarter. Suntrust Banks Inc. lifted its position in shares of Watts Water Technologies by 1.0% during the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock worth $207,000 after purchasing an additional 31 shares during the last quarter. Amalgamated Bank lifted its position in shares of Watts Water Technologies by 3.5% during the second quarter. Amalgamated Bank now owns 3,813 shares of the technology company’s stock worth $241,000 after purchasing an additional 128 shares during the last quarter. Nationwide Fund Advisors lifted its position in shares of Watts Water Technologies by 0.8% during the second quarter. Nationwide Fund Advisors now owns 17,452 shares of the technology company’s stock worth $1,103,000 after purchasing an additional 131 shares during the last quarter. Finally, ETRADE Capital Management LLC lifted its position in shares of Watts Water Technologies by 4.1% during the second quarter. ETRADE Capital Management LLC now owns 4,102 shares of the technology company’s stock worth $259,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 77.68% of the company’s stock.

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Watts Water Technologies Company Profile

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.

Earnings History and Estimates for Watts Water Technologies (NYSE:WTS)

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