$380.13 Million in Sales Expected for Watts Water Technologies Inc (WTS) This Quarter
Equities analysts forecast that Watts Water Technologies Inc (NYSE:WTS) will post sales of $380.13 million for the current quarter, according to Zacks. Eight analysts have provided estimates for Watts Water Technologies’ earnings, with the lowest sales estimate coming in at $374.20 million and the highest estimate coming in at $388.40 million. Watts Water Technologies reported sales of $364.70 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.2%. The company is expected to issue its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Watts Water Technologies will report full year sales of $1.55 billion for the current fiscal year, with estimates ranging from $1.54 billion to $1.56 billion. For the next year, analysts forecast that the firm will report sales of $1.60 billion per share, with estimates ranging from $1.58 billion to $1.62 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 1st. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. The business had revenue of $407.90 million for the quarter, compared to analysts’ expectations of $403.60 million. Watts Water Technologies had a return on equity of 13.88% and a net margin of 5.83%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.83 earnings per share.
In related news, General Counsel Kenneth Robert Lepage sold 10,115 shares of Watts Water Technologies stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $86.07, for a total transaction of $870,598.05. Following the sale, the general counsel now owns 39,966 shares of the company’s stock, valued at approximately $3,439,873.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert J. Pagano, Jr. sold 11,040 shares of Watts Water Technologies stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $85.36, for a total value of $942,374.40. Following the sale, the insider now directly owns 116,545 shares in the company, valued at approximately $9,948,281.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,266 shares of company stock worth $2,661,929. Insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in Watts Water Technologies by 9.3% in the 2nd quarter. BlackRock Inc. now owns 4,546,758 shares of the technology company’s stock worth $356,466,000 after acquiring an additional 385,696 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Watts Water Technologies by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,014,445 shares of the technology company’s stock worth $78,822,000 after acquiring an additional 9,713 shares during the last quarter. Northern Trust Corp increased its stake in Watts Water Technologies by 0.3% in the 1st quarter. Northern Trust Corp now owns 952,176 shares of the technology company’s stock worth $73,984,000 after acquiring an additional 3,219 shares during the last quarter. Victory Capital Management Inc. increased its stake in Watts Water Technologies by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 866,469 shares of the technology company’s stock worth $67,931,000 after acquiring an additional 3,253 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Watts Water Technologies by 6.3% in the 2nd quarter. Voya Investment Management LLC now owns 795,050 shares of the technology company’s stock worth $62,332,000 after acquiring an additional 46,961 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.
NYSE:WTS traded down $0.70 on Thursday, hitting $81.45. The stock had a trading volume of 269,893 shares, compared to its average volume of 109,318. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 2.29. Watts Water Technologies has a 52-week low of $66.40 and a 52-week high of $93.35.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.03%. Watts Water Technologies’s payout ratio is currently 27.81%.
About Watts Water Technologies
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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