Watts Water Technologies Inc (NYSE:WTS) – Equities research analysts at Boenning Scattergood upped their Q1 2018 earnings estimates for shares of Watts Water Technologies in a research note issued on Tuesday. Boenning Scattergood analyst R. Connors now expects that the technology company will earn $0.75 per share for the quarter, up from their prior estimate of $0.66. Boenning Scattergood has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Watts Water Technologies’ Q2 2018 earnings at $0.97 EPS, Q3 2018 earnings at $0.96 EPS and FY2018 earnings at $3.55 EPS.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Monday, January 22nd. 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. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Watts Water Technologies in a research report on Tuesday, January 16th. Janney Montgomery Scott raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research report on Wednesday. Finally, TheStreet cut shares of Watts Water Technologies from a “b+” rating to a “c+” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $78.00.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Watts Water Technologies had a negative net margin of 0.63% and a negative return on equity of 1.11%. The firm had revenue of $366.30 million during the quarter, compared to analysts’ expectations of $365.35 million. During the same quarter in the prior year, the company earned $0.64 EPS. The company’s revenue was up 7.1% compared to the same quarter last year.
The company also recently announced 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 is Thursday, March 1st. This represents a $0.76 dividend on an annualized basis and a yield of 1.00%. Watts Water Technologies’s payout ratio is 35.85%.
In related news, CEO Robert J. Pagano, Jr. sold 3,951 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were 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 owns 137,474 shares of the company’s stock, valued at $10,047,974.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert J. Pagano, Jr. sold 11,852 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $73.53, for a total transaction of $871,477.56. Following the sale, the chief executive officer now directly owns 137,474 shares of the company’s stock, valued at approximately $10,108,463.22. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Large investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC purchased a new stake in Watts Water Technologies during the fourth quarter valued at approximately $112,000. Public Employees Retirement System of Ohio lifted its position in 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 valued at $129,000 after acquiring an additional 17 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Watts Water Technologies during the third quarter valued at approximately $200,000. Suntrust Banks Inc. lifted its position in Watts Water Technologies by 1.0% during the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock valued at $207,000 after acquiring an additional 31 shares during the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in Watts Water Technologies during the second quarter valued at approximately $215,000. 78.21% of the stock is owned by institutional investors.
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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.
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