Watts Water Technologies (NYSE:WTS) Announces Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Watts Water Technologies (NYSE:WTS) released its earnings results on Wednesday. The technology company reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.26, Zacks reports. Watts Water Technologies had a net margin of 13.79% and a return on equity of 18.31%.

Watts Water Technologies Trading Down 0.2%

Shares of Watts Water Technologies stock traded down $0.52 on Wednesday, reaching $314.50. The company had a trading volume of 182,153 shares, compared to its average volume of 181,318. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.84 and a current ratio of 2.83. The firm’s 50 day moving average price is $288.85 and its two-hundred day moving average price is $279.63. Watts Water Technologies has a 52-week low of $177.59 and a 52-week high of $321.87. The firm has a market cap of $10.49 billion, a PE ratio of 32.46, a PEG ratio of 2.97 and a beta of 1.24.

Watts Water Technologies Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.52 per share. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, February 27th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 21.47%.

Analysts Set New Price Targets

WTS has been the subject of a number of analyst reports. TD Cowen reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Thursday, January 8th. Wells Fargo & Company set a $275.00 target price on Watts Water Technologies in a research report on Thursday, January 8th. Jefferies Financial Group started coverage on shares of Watts Water Technologies in a research note on Friday, December 12th. They set a “hold” rating and a $300.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Watts Water Technologies in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Watts Water Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Watts Water Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $288.57.

Insider Transactions at Watts Water Technologies

In other news, major shareholder Timothy P. Horne sold 6,814 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $272.32, for a total value of $1,855,588.48. Following the completion of the transaction, the insider owned 15,000 shares in the company, valued at approximately $4,084,800. This represents a 31.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Virginia A. Halloran sold 605 shares of Watts Water Technologies stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $276.78, for a total transaction of $167,451.90. Following the completion of the transaction, the chief accounting officer owned 13,412 shares in the company, valued at approximately $3,712,173.36. This trade represents a 4.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 8,611 shares of company stock valued at $2,347,509. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Watts Water Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC increased its position in shares of Watts Water Technologies by 10.2% in the first quarter. Integrated Wealth Concepts LLC now owns 1,887 shares of the technology company’s stock worth $385,000 after acquiring an additional 174 shares in the last quarter. Jones Financial Companies Lllp increased its position in Watts Water Technologies by 80.2% in the 1st quarter. Jones Financial Companies Lllp now owns 1,000 shares of the technology company’s stock worth $222,000 after purchasing an additional 445 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Watts Water Technologies by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,878 shares of the technology company’s stock worth $20,163,000 after purchasing an additional 7,537 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Watts Water Technologies during the 2nd quarter worth about $219,000. Finally, Cetera Investment Advisers lifted its holdings in shares of Watts Water Technologies by 43.2% during the 2nd quarter. Cetera Investment Advisers now owns 1,734 shares of the technology company’s stock valued at $426,000 after buying an additional 523 shares during the last quarter. Institutional investors own 95.02% of the company’s stock.

Watts Water Technologies Company Profile

Watts Water Technologies, Inc is a global manufacturer and distributor of flow control products and solutions designed to ensure the safe, efficient delivery and use of water. Founded in 1874 and headquartered in North Andover, Massachusetts, the company has built a reputation for engineering innovation in residential, commercial and industrial plumbing, heating, cooling and water treatment systems. Watts operates through a comprehensive portfolio of brands and product lines that address application-specific requirements in water safety, pressure regulation, flow control and filtration.

The company’s product offerings span backflow preventers, pressure reducing valves, relief valves and steam traps, as well as hydronic balancing and temperature control devices for heating systems.