Northcoast Research Comments on Watts Water Technologies Inc’s Q3 2019 Earnings (WTS)

Watts Water Technologies Inc (NYSE:WTS) – Research analysts at Northcoast Research upped their Q3 2019 earnings per share estimates for shares of Watts Water Technologies in a research note issued on Monday, September 24th. Northcoast Research analyst A. Cohen now forecasts that the technology company will earn $1.09 per share for the quarter, up from their previous estimate of $1.01. Northcoast Research currently has a “Buy” rating and a $105.00 target price on the stock. Northcoast Research also issued estimates for Watts Water Technologies’ Q4 2019 earnings at $1.08 EPS.

Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Boenning Scattergood reiterated a “neutral” rating on shares of Watts Water Technologies in a research report on Thursday, August 2nd. Seaport Global Securities reiterated a “hold” rating and set a $83.00 target price on shares of Watts Water Technologies in a research report on Thursday, August 2nd. Stifel Nicolaus boosted their price objective on Watts Water Technologies from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Finally, Robert W. Baird restated a “hold” rating and issued a $82.00 price objective on shares of Watts Water Technologies in a research report on Friday, July 20th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.33.

NYSE WTS opened at $82.70 on Thursday. The firm has a market cap of $2.86 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.88 and a beta of 1.04. The company has a current ratio of 2.29, a quick ratio of 1.38 and a debt-to-equity ratio of 0.45. Watts Water Technologies has a fifty-two week low of $66.40 and a fifty-two week high of $93.35.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, August 1st. The technology company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The company had revenue of $407.90 million for the quarter, compared to the consensus estimate of $403.60 million. Watts Water Technologies had a return on equity of 13.88% and a net margin of 5.83%. Watts Water Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Watts Water Technologies by 9.3% in the second quarter. BlackRock Inc. now owns 4,546,758 shares of the technology company’s stock worth $356,466,000 after purchasing an additional 385,696 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Watts Water Technologies by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,014,445 shares of the technology company’s stock worth $78,822,000 after purchasing an additional 9,713 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Watts Water Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 952,176 shares of the technology company’s stock worth $73,984,000 after purchasing an additional 3,219 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Watts Water Technologies by 0.4% in the second quarter. Victory Capital Management Inc. now owns 866,469 shares of the technology company’s stock worth $67,931,000 after purchasing an additional 3,253 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Watts Water Technologies by 6.3% in the second quarter. Voya Investment Management LLC now owns 795,050 shares of the technology company’s stock worth $62,332,000 after purchasing an additional 46,961 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

In other news, insider Robert J. Pagano, Jr. sold 11,040 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $85.36, for a total value of $942,374.40. Following the transaction, the insider now directly owns 116,545 shares in the company, valued at $9,948,281.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 10,115 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $86.07, for a total value of $870,598.05. Following the completion of the transaction, the general counsel now owns 39,966 shares in the company, valued at $3,439,873.62. The disclosure for this sale can be found here. Insiders sold 31,266 shares of company stock worth $2,661,929 over the last 90 days. Company insiders own 1.10% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.84 annualized dividend and a dividend yield of 1.02%. Watts Water Technologies’s payout ratio is 27.81%.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. It offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.

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

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