Watts Water Technologies Inc (NYSE:WTS) – Analysts at Boenning Scattergood raised their Q4 2018 earnings estimates for shares of Watts Water Technologies in a research report issued to clients and investors on Tuesday. Boenning Scattergood analyst R. Connors now forecasts that the technology company will post earnings of $0.87 per share for the quarter, up from their previous estimate of $0.85. Boenning Scattergood currently has a “Buy” rating on the stock.
WTS has been the topic of several other research reports. Robert W. Baird upped their price target on shares of Watts Water Technologies from $71.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $79.00 price target on shares of Watts Water Technologies in a research report on Friday, November 3rd. KeyCorp reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. Seaport Global Securities reiterated a “neutral” rating on shares of Watts Water Technologies in a research report on Friday, November 3rd. Finally, Northcoast Research set a $90.00 price target on shares of Watts Water Technologies and gave the stock a “buy” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $77.33.
Watts Water Technologies (NYSE:WTS) last issued its earnings results on Monday, February 12th. The technology company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Watts Water Technologies had a net margin of 5.02% and a return on equity of 13.07%. The company had revenue of $366.30 million for the quarter, compared to the consensus estimate of $365.35 million. During the same quarter in the previous year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.76 annualized dividend and a yield of 1.00%. Watts Water Technologies’s dividend payout ratio (DPR) is 35.85%.
In other Watts Water Technologies news, CEO Robert J. Pagano, Jr. sold 11,852 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $73.53, for a total transaction of $871,477.56. Following the transaction, the chief executive officer now directly owns 137,474 shares in the company, valued at approximately $10,108,463.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Elie Melhem sold 2,545 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $70.48, for a total transaction of $179,371.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,348 shares of company stock worth $1,339,628. 1.10% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC acquired a new position in Watts Water Technologies during the 4th quarter valued at about $112,000. Public Employees Retirement System of Ohio lifted its position in Watts Water Technologies by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after purchasing an additional 17 shares during the period. Ballentine Partners LLC acquired a new position in Watts Water Technologies during the 3rd quarter valued at about $200,000. Suntrust Banks Inc. lifted its position in Watts Water Technologies by 1.0% during the 2nd quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock valued at $207,000 after purchasing an additional 31 shares during the period. Finally, Balyasny Asset Management LLC acquired a new position in Watts Water Technologies during the 2nd quarter valued at about $215,000. Institutional investors own 78.21% of the company’s stock.
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.
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